# Four Maxims of Taxation ## Definition Smith's four principles for good taxation: equality (proportional to ability), certainty (clear and not arbitrary), convenience (paid at convenient times and in convenient ways), and economy (minimal collection costs and economic distortion). ## Source Chapter Book V, Chapter 2 ## Context Smith presents these four maxims as the fundamental criteria by which all taxes should be judged, using them throughout his analysis of different tax types to evaluate their relative merits and defects. ## Economic Domain General Theory ---