ADMISSION OF AZEOTROPIC MIDDLE CLASS IN THE PERIPHERY OF POLITICAL ECONOMY THROUGH INCOME –TAX RELATION

Abstract

The present study embodies income and tax relation with reference to any country. The income of the number fractions of different group people of a country is highlighted although the tax is commenced after reaching the income at certain level or above this. For the ideal system, the lense shaped curve considers both the possibilities of regressive and progressive taxes where the former is associated with volatile mentality and the latter is concerned with liquid mentality of tax payer. The non-ideal systems are of two alternative possibilities where deviations from ideal behavior are highest at some composition corresponding to lowest or highest income levels. Both the possibilities consider a pair of lense shaped area (with a definite point of meeting) wherefrom a new concept is developed which is nothing but azeotropic middle class such that the components cannot be separated by fractional liquid mentality principle. The corresponding chemical aspect is also mentioned where temperature vs. Composition curves of both ideal and non-ideal systems of completely miscible liquid pair are taken into consideration. The concept of phase rule, Lever rule, azeotrope and theoretical plate are involved and the useful theoretical relations in this regard are also indicated.