ASSESSMENT OF THE IMPACT OF FISCAL POLICY ON THE LEVEL OF SOCIAL PROTECTION AND SECURITY IN UKRAINE
DOI:
https://doi.org/10.32782/2786-8273/2024-6-2Keywords:
fiscal policy, tax revenues, social protection, social security, economic and mathematical modelingAbstract
Introduction. Fiscal policy through tax revenues plays an important role in determining the level of social protection and social security in a country, as it provides the necessary financial resources for the implementation of social programs and services. The country's tax system determines the amount of revenue to the budget from which social programs are financed, such as pensions, medical care, unemployment benefits, social benefits and other types of social protection. Purpose. The purpose of the article is to evaluate the impact of fiscal policy on social protection and social security in Ukraine using the tools of economic and mathematical modeling. Methods. The main method used in the research was economic and mathematical modeling. Results. One of the main tools of fiscal policy is the tax system, which determines how much money is accumulated in the state budget through taxation of various types of income, such as salary, business profits, consumer goods and services, real estate, and others. The collected funds are then used to finance various social programs and services that contribute to the social protection of the population. For example, a high level of tax rates on the profits of enterprises can provide significant revenues to the budget, which can be used to expand social programs and increase the level of social protection. On the other hand, low tax rates can reduce the amount of revenues to the budget, which can lead to a reduction in social spending or insufficient financing of social programs. Tax policy can also have a direct effect on the distribution of wealth in society, which affects the level of social protection. For example, the introduction of a progressive tax system, where higher incomes are taxed at higher rates, can provide additional resources for social protection of lower income earners. In addition, fiscal policy can affect the level of social protection by determining the size and form of social benefits. For example, the share of the budget allocated to health care, pensions or unemployment benefits depends on the funding allocated for these purposes, which is determined through fiscal policy. Conclusion. Fiscal policy, through the mechanism of tax revenues, has a decisive influence on the level of social protection and social security in the country. Tax collection is the main source of funding for social programs and services provided to the population. Tax revenues provide the necessary financial resources for the implementation of various social initiatives, such as pensions, health care, unemployment benefits, assistance to low-income families and other types of social protection. Thus, an effective fiscal policy that directs the necessary resources to the targeted support of citizens is an important tool for ensuring social justice and well-being.
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