Haig–Simons
Definition
A principle that defines income as the sum of (1) the value of the taxpayer’s consumption during the taxable period and (2) any increase in value in the taxpayer’s property or wealth during that period.
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A principle that defines income as the sum of (1) the value of the taxpayer’s consumption during the taxable period and (2) any increase in value in the taxpayer’s property or wealth during that period.