Deadweight loss from income taxation




r1378) Issued in February 198818/02/2017 · In his excellent post on taxes and the incidence of taxes, co-blogger Scott Sumner does not mention another important issue in taxation: deadweight loss. Simply put, it determines how much money people get to keep (and how much they have to pay the government) for every additional hour they spend at work. In this case, deadweight loss depends purely on08/12/1970 · The loss of welfare attributed to the shift from earlier to this less efficient market mechanism is called the deadweight loss of taxation. Loading Close. Stack Exchange network consists of 175 Q&A communities including Stack Overflow, the largest, most trusted online community for developers to learn, In his posthumous novel The Pale King, David Foster Wallace describes a fictional progressive sales tax in Illinois that imposes higher rates the larger the amount purchased. This elasticity is the key parameter necessary to evaluate the deadweight loss of the income tax. We also find that though the gains from a move to uniform taxation are not large in absolute magnitude these gains would be offset only by an overall rise in capital income tax rates of several percentage points. What kind of holidays do Quakers celebrate? 160 want this answered. welfare loss from the U. Deadweight loss in income tax models with exemptions, avoidance and evasion We outline below a general model of behavioural response to taxation in order to identify components of deadweight loss and to make precise the role of taxable income responses in determining its magnitude. Watch Queue Queue. General equilibrium models have shown that substantial shifting of organizational form in response to tax rates implies a large deadweight loss of taxation. In this particular situation the "dead weight loss" reduces the product or quantity exchanged. __count__/__total__Autore: Sorento Burns JrVisualizzazioni: 2Durata video: 3 minTax Avoidance and the Deadweight Loss of the …Traduci questa paginahttps://ideas. 15/05/2015 · Deadweight loss occurs when supply and demand are not in equilibrium, which leads to market inefficiency. I. This disagreement arises because eonomists …Surplus Loss with Excise Tax Herriges (ISU) Ch. With the tax, the supply curve shifts by the tax amount from Supply0 to Supply1. – The debate is also related to the optimal size of the government (leaner or larger). the tax per unit of the product multiplied by the number of units sold. ssrn. Deadweight loss is the loss of something good economically that occurs because of the tax imposed. Costs , Supply And If I have a linear demand function: x = a - bp How do the values of a and b affect the deadweight loss of a commodity tax? Stack Exchange Network. the labour income tax, but his model does not incorporate consumption taxes and taxes on saving. Downloadable (with restrictions)! Traditional analyses of the income tax greatly underestimate deadweight losses by ignoring its effect on forms of compensation and patterns of consumption. The Taxable Income Elasticity . This means that our Q1 is 4, and our Q2 is 5. Welfare loss of taxation is also called the excess burden of taxation or deadweight loss of taxation…Here is simple example. Feld-view that welfare costs due to income taxation were relatively low. It represents the difference between the losses in consumer and producer surpluses and the tax collected. Search. Auerbach. 03/07/2002 · Deadweight loss and taxation of earned income: evidence from tax records of the UK self-employed. and the Implications of Tax Evasion for Deadweight Loss . This results in a decrease in consumer and producer surplus. KAY The Institute r Fiscal Studies, 1 Castle Lane, London SWIE 6DR, England Received July 1977, revised version received July 1979 In a recent article Diamond and McFadden (1974) have sought to give precise formulation Definition: Deadweight Loss of Taxation. What Is Deadweight Loss? Deadweight loss refers to the losses society experiences due to taxes and price control. There is no integration of the corporate and personal income taxes so any dividends are taxed twice. The taxable income formula for deadweight loss does not hold when the marginal resource cost of sheltering differs from the tax rate. If we have a tax imposed on the economy, then we see equilibrium quantity go down to 4. Asked in Economics, Income Taxes, Business TaxesDeadweight Loss Varies with Elasticity. cQ North-Holland Publishing Company THE DEADWEIGHT LOSS FROM A TAX SYSTEM J. A tax on petrol is likely to a. The deadweight loss of an income tax is determined by the a amount of total tax from BUSINESS BAIU09 at American InterContinental University, AtlantaIN ECONOMICS HOW TO CALCULATE DEADWEIGHT LOSS? Unanswered Questions. The cost of taxation to society includes the direct cost of revenue paid to government and the cost of administering the tax. 27/04/2018 · Indirect taxes distortion in the market. Loading Watch Queue Queue. This leads to wastage or underutilization of resources due to inefficient market outcomes. This means that When the size of a tax doubles, the base and height of the triangle double. So our equation for deadweight loss will be ½(1*2) or 1. Consider a taxpayer receiving risk free lump sum untaxed income Such optimization errors also create a di¤erence between the true marginal social cost of sheltering and the tax rate. Tax Policy – Reviewing the Deadweight Loss Effects of High Tax Rates Throughout the 2020 presidential election cycle, many Democratic candidates have suggested raising tax rates on corporations and individuals to address income inequality in the United States. Aggregate Supply, Unemployment And Inflation: 25. as the size of the tax rises. ] -- Abstract: The traditional method of analyzing the distorting effects of the income tax greatly underestimates its total deadweight loss as well as the incremental deadweight loss of an increase in The deadweight loss (DWL) calculator allows you to make swift and simple estimations of deadweight loss. Fiscal And Monetary Policy: 24. Sometimes if conditions 1 or 2 don’t hold, then government intervention may be necessary in order to alleviate an economy of a deadweight loss. The largest chunk of revenue source for most of the governments in the world is taxation of various transactions, services, and income of individuals and companies among other things. The tax increases the "wealth" of the government and reduces the welfare of both buyer & seller. The varying deadweight loss from a tax also affect the government's total tax revenue 09/12/2019 · The Deadweight Loss from `Non-Neutral' Capital Income Taxation Alan J. The term "deadweight loss of taxation" refers to the negative manner that better defines the wedge a tax places between buyers & sellers. Get this from a library! Tax avoidance and the deadweight loss of the income tax. The framework allows a decomposition of the deadweight loss from each tax instrument into the losses stemming from the contraction of the different tax bases. tariff structure over a period that encompasses the high-tariff protectionism of the late nineteenth century through the trade liberalization that began in the mid-1930s. The amount of the deadweight loss varies with both demand elasticity and supply elasticity. North-Holland THE DEADWEIGHT LOSS FROM `NON-NEUTRAL' CAPITAL INCOME TAXATION Alan J. Sounds good and fair — tax those who make larger purchases. Tax on …the deadweight loss of a tax is large. As a first proxy, deadweight loss as a percentage of tax collected is given by the formula The deadweight loss from `non-neutral' capital income taxation. Many thanks to them for their generosity. C3 CONSEQUENTIAL TAX LOSSES DUE TO DEADWEIGHT LOSSES. If I have a linear demand function: x = a - bp How do the values of a and b affect the deadweight loss of a commodity tax? Stack Exchange Network. Please loIf a tax on a good is doubled the deadweight loss from the tax ? If a tax on a good is doubled the deadweight loss from the tax ? A. a more inclusive way to assess the deadweight costs of taxes on labour income is to examine the effect of changes in the marginal tax rate on taxable income rather than on labour supply. Across these proposals, however, is a lack of discussion about the economic costs of increasing income tax rates, such as deadweight loss effects. This is quite surprising since most income tax systems are nonlinear, generating nonlinear budget constraints. – Economists who argue that labor taxes are not very distorting Deadweight loss in income tax models with exemptions, avoidance and evasion We outline below a general model of behavioural response to taxation in order to identify components of deadweight loss and to make precise the role of taxable income responses in determining its magnitude. This is over and above the loss in tax revenue due to deadweight losses (section C3, below). A first approach to evaluate economic distortions generated by corporate income taxation is to compute the deadweight loss (or Harberger Triangle). This video is unavailable. Trades that were otherwise bene cial are lost because of the tax. 7: Taxes Fall 2010 17 / 25 The Bene ts and Costs of Taxation The Deadweight Loss The deadweight loss is a real cost of the excise tax caused by the reduced consumption under the tax. "The Deadweight Loss from `Non-Neutral' Capital Income Taxation," NBER Working Papers 2510, National Bureau of Economic Research, Inc. Abstract. ) generate a deadweight loss that is unaffected by the time period over which it is measured. The main result is that uniform capital income taxation is almost certainly suboptimal, theoretically, but that empirically, optimal deviations from uniform taxation are inconsequential. 2510 (Also Reprint No. For example, Harberger’s deadweight loss estimate was roughly 2. Hilary Hoynes Deadweight Loss UC Davis, Winter 2012 1 / 81the deadweight loss of a tax is large. 40, issue 1, 1-36 Date: 1989My article “Marginal Deadweight Loss when the Income Tax is Nonlinear” joint with Sören Blomquist has just been accepted for publication in the Journal of Econometrics. Downloadable! Almost all theoretical work on how to calculate the marginal deadweight loss has been done for linear taxes and for variations in linear budget constraints. But “deadweight loss” is not one of them. One tenet of sound tax policy is to balance distributional objectives with the distortive effects of high tax rates, which can have disproportionately high economic costs associated with them. So the base of our deadweight loss triangle will be 1. It measures the effect of deadweight loss caused by a change in taxes or the tax system. Auerbach National Bureau of Economic Research Cambridge, Mass 1988 Australian/Harvard Citation Auerbach, Alan J. The government's tax revenue is. The paper develops a simple general equilibrium framework for calculating the marginal deadweight loss from taxation in a small open economy. To figure out how to calculate deadweight loss from taxation, refer to the graph shown below: Notes: The equilibrium price and quantity before the imposition of tax is Q0 and P0. Intertemporal Tax Wedges and Marginal Deadweight Loss ∗ Jes Winther Hansen† Nicolaj Verdelin‡ March 28, 2007 Abstract This paper analyzes the efficiency loss of income taxation …Journal of Public Economics 13 (1980) 111-119. Repealing the 1993 increase in tax rates for high income taxpayers would reduce the deadweight loss of the tax system by $24 billion while actually increasing tax revenue. Autore: Khan AcademyVisualizzazioni: 401 KDurata video: 9 minTax Avoidance and the Deadweight Loss of the …Traduci questa paginahttps://papers. While perhaps the most obvious distortion is to hours worked, an income tax also influences work effort, and longer term labour supply decisions such as participation,The deadweight loss from a tax A is the tax revenue the government collects from ECON 101 at Canadian Public School - High SchoolThe deadweight loss of an income tax is determined by the a amount of total tax from BUSINESS BAIU09 at American InterContinental University, Atlantareview of the theory and practice of deadweight loss measurement, followed by characterizations of optimal commodity taxation and optimal linear and nonlinear income taxation. Traditionally, the microeconometric literature on how taxes affect behavior focused in isolation on particular decisions that might be influenced by tax rates, such as decisionsRemember: Economists hate deadweight loss, they prefer efficient outcomes. As a sole employee with payroll and income taxes, you’d keep $50 from my $100 payment. 13844 March 2008 JEL No. 5% of tax revenue raised from labour. Elasticity and the Deadweight Loss. Not surprisingly, it generates a substantial deadweight loss: People buy a few things, take them to their impact of the tax base, measured as a fraction of income subject to taxation, on the elasticity of income reported on personal tax returns. Consider a taxpayer receiving risk free lump sum untaxed income 12/02/2019 · Deadweight loss of Taxation. Remove all; Disconnect; The next video is starting stop. & National Bureau of Economic Research. Responses to changes in marginal income tax rates can be more complex than a simple adjustment in hours worked. Following an introduction to the deadweight loss of taxation, we examine the deadweight losses due to income taxes on labour and capital and the losses associated with consumption taxes. deadweight loss from taxation in a small open economy. Auerbach, 1988. While certain members of society may benefit …By changing the relative gain to incorporation, corporate taxation can play an important role in a firm's choice of organizational form. So, for example, a typical estimate of deadweight loss from taxes is 30 percent of revenue raised. Knowing how to calculate deadweight loss helps producers decide whether or not to abandon a product line or business model with zero profitability. repec. When supply is relatively inelastic. Most theoretical work on how to calculate the marginal deadweight loss has been done for …You are not authenticated to view the full text of this chapter or article. This is one of the arguments for a broad-base, low-rate tax …the other principles of tax reform, and, thereby, to improve social welfare. Finally, the intertemporal preference parameters are estimated using GMM. Let’s say I want to hire you to cut my grass. the deadweight loss grows larger and larger. The framework is then extended to a variety of settings, initially consisting of optimal taxation in the presence of externalities or public goods. Simply complete all the fields in the form provided and clicking on the "Calculate" button will give you your results. In other words, the deadweight loss of taxation is a measurement of how far taxes reduce the standard of living among the taxed population. Calculating Deadweight Loss. htmlDownloadable! The traditional method of analyzing the distorting effects of the income tax greatly underestimates its total deadweight loss as well as the incremental deadweight loss of an increase in income tax rates. Elgaronline requires a subscription or purchase to access the full text of books or journals. com/sol3/papers. They involve the net loss in aggregate welfare to the society as the amount of revenue collected through indirect taxes does not fully offset the combined loss in consumer and …Autore: E. Learn vocabulary, terms, and more with flashcards, games, and other study tools. The difference between supply and demand curve (with the tax imposed) at Q1 is 2. Senator Elizabeth Warren (D-MA) has proposed returning the corporate rate to 35 Deadweight loss of taxation The Deadweight loss of taxation;the tax increases the price paid by buyers to Pc and decreases price received by sellers to Pp and the quantity sold reduces from Qe to Qt. The full deadweight loss is easily calculated using the compensated elasticity of taxable income to changes in tax rates because leisure, excludable income Journal of Public Economics 13 (1980) 111-119. Economists disagree about whether this 50 percent labor tax has a small or a large deadweight loss. The rest of the paper proceeds as follows. The framework is then extended to a variety of settings, initially consisting of optimal taxation in …19/02/2008 · Lessons from the Russia’s 2001 Flat Tax Reform . Will Tomska make another asdf movie? 168 want this answered. When a tax is levied on buyers, the demand curve shifts downward in accordance with the size of the tax. S. The compensated change in taxable income induced by changes in tax rates therefore provides all of the information that is needed to evaluate the deadweight loss of the income tax. org/p/nbr/nberwo/5055. Deadweight loss of Taxation. doubles B. ) cause a greater deadweight loss …Start studying Microeconomics - Chapter 8 Tax & Deadweight Loss. The deadweight loss of a tax will be smaller if16/04/2011 · The deadweight loss from taxation of wife’s labor income from 1980-1987, for a median household is estimated to be 57% of tax revenue as opposed to 49% for a switch to a revenue-neutral proportional tax system. Taxes impact both the supply and demand curves. Taxes cause a buyer to pay more for something and suppliers to receive less. Deadweight losses are substantially greater than these conventional estimates because the traditional framework ignores the Application: The costs of taxation Learning objectives In this chapter you will: learn that taxes impose deadweight losses << learn that the size of a deadweight loss depends on the elasticities of supply and demand << consider the relationship between the size of a tax and the size of the deadweight loss that results from the tax. KAY The Institute r Fiscal Studies, 1 Castle Lane, London SWIE 6DR, England Received July 1977, revised version received July 1979 In a recent article Diamond and McFadden (1974) have sought to give precise formulation What is deadweight loss of taxation? We need you to answer this question! If you know the answer to this question, please register to join our limited beta program and start the conversation right now! Register to join beta. The deadweight loss from taxation of wife's labor income from 1980-1987, for a median household, is estimated to be 57% of tax revenue as opposed to 49% for a switch to a revenue-neutral proportional tax system. Given this, a more inclusive way to assess the deadweight costs of taxes on labour income is to examine the effect of changes in the marginal tax rate on taxable income rather than on labour supply. There is no integration of the corporate and personal income taxes so …This chapter describes how the main forms of taxation cause a deadweight loss and how this loss can be quantified. AUERBACH* University of Pennsylvania, Philadelphia, PA 19104-6297, USA and NBER Received February 1988, revised version received March 1989 This paper develops an overlapping generations general equilibrium model that Alan J. When either demand or supply is inelastic, then the deadweight loss of taxation is small, because the quantity bought or sold does not vary much with the price. The deadweight loss from a tax is the part of the loss to those who bear the tax that does not go to the government. Does Charlie Adam have false teeth? 178 want this answered. 08/09/2006 · More income tax means less national income. Jon Bakija, April 2011 . E) Some Measurements of Deadweight Losses 1) A one percentage point increase in a tax rate tends to cause a more than one percentage point increase in deadweight loss. Whether deadweight losses are small or large depends on many factors, particularly the size of the tax. In my favorite economics textbook, this proposition is explained in Chapter 8 using supply and demand curves and the standard deadweight loss calculation as the area of the triangle between the supply…Although the size of the labor tax is easy to determine the deadweight loss of this tax is less straightforward. Is the Taxable Income Elasticity Sufficient to Calculate Deadweight Loss? The Implications of Evasion and Avoidance Raj Chetty NBER Working Paper No. Whenever a policy results in a deadweight loss, economists try to find a way recapture the losses from the deadweight loss. The corporate income tax is a tax on the return to corporate capital. The full deadweight loss is easily calculated using the compensated elasticity of taxable income to changes in tax rates because leisure, excludable income 08/06/2018 · Welfare loss of taxation refers to the decreased economic well-being caused by the imposition of a tax. My results highlight though that it is not a structural parameter depending only on underlying. Indeed, if sheltering has no resource costs, it generates no efficiency loss at all because it simply leads to a real-location of resources across agents. 05/12/2019 · There are different types of taxes in the economy which includes the income tax, property tax and professional tax and so on. review of the theory and practice of deadweight loss measurement, followed by characterizations of optimal commodity taxation and optimal linear and nonlinear income taxation. Market inefficiency occurs when goods within the market are either overvalued or undervalued. Also See: Economic Efficiency, Equilibrium, Indifference Curve, Deadweight Loss of TaxationDeadweight loss arises when the cost to produce goods or services doesn't provide enough benefit to the buyer and the seller to make it worthwhile to complete a transaction. H21,J22,J33 ABSTRACT Since Feldstein (1999), the most widely used method of calculating the excess burden of income taxationJournal of Public Economics 40 (1989) 1-36. It may differ from the top rate of personal income tax, the marginal tax rate to which the return on unincorporated capital is subject. The taxable income formula for deadweight loss does not hold when the marginal resource cost of sheltering di¤ers from the tax rate. Section II describes the theoretical general equilibriumThe marginal deadweight loss of income taxation For actual policy reforms, the more relevant measure of the distortive costs of taxation is the marginal deadweight loss: What is the tax-revenue loss associated with raising an additional unit of income taxes, while compensating individuals through a reduction in the lump-sum tax?27/04/2015 · Taxes create deadweight loss because they prevent people from buying a product that costs more after taxing than it would before the tax was applied. Producers would want to supply less due to the imposition Econ 230A: Public Economics Lecture: Deadweight Loss & Optimal Commodity Taxation 1 Hilary Hoynes UC Davis, Winter 2012 1These lecture notes are partially based on lectures developed by Raj Chetty and Day Manoli. This loss of consumer and producer surplus from a tax is known as dead weight loss. 12/01/2012 · Microeconomics on Khan Academy: Topics covered in a traditional college level introductory microeconomics course About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. Yuriy Gorodnichenko, we find that the tax-evasion-adjusted deadweight loss from the personal income tax is at least 30% smaller than the loss implied by the standard method based on the response of reported income to tax changes. Journal of Public Economics, 1989, vol. In this case imposition of taxes reduces supply, resulting in the creation of deadweight loss (triangle bounded by the demand curve and the vertical line representing the after-tax quantity supplied), similar to …03/07/2002 · Deadweight loss and taxation of earned income: evidence from tax records of the UK self-employed. ” (Scott’s graph […]Report to the Expert Group on Public Economics 2010:4 Supplement Calculating the Deadweight Loss from Taxation in a Small Open Economy A general method with an application to Sweden18/08/2013 · Removing deadweight loss from economic discourse on income taxation and public spending Charles Manski 18 August 2013 This column argues that the anti-tax rhetoric evident in much lay discussion of public policy draws considerable support from the prevalent negative language of professional economic discourse. b. 08/12/2019 · Because the relative prices of leisure, excludable income, and deductible consumption are fixed, all of these can be treated as a single Hicksian composite good. [Martin S Feldstein; National Bureau of Economic Research. A. Therefore, we can say that the marginal tax rate determines the deadweight loss of an income tax. Thus, doubling the tax increases the deadweight loss by a factor of 4. Thus the term “deadweight. What are the controls in Super Smash Bros. Deadweight loss: It is the reduction in the units where the marginal benefit to the consumer is higher than the marginal cost of production of the unit. Instead of developing the proper procedure to calculate the MEASURING THE DEADWEIGHT LOSS FROM TAXATION IN A SMALL OPEN ECONOMY A general method with an application to Sweden By Peter Birch Sørensen Department of …Is the Taxable Income Elasticity Su¢ cient to Calculate Deadweight Loss? The Implications of Evasion and Avoidance Raj Chetty UC-Berkeley and NBER August 2008 Abstract Since Feldstein (1999), the most widely used method of calculating the excess burden of income taxation is to estimate the e⁄ect of tax rates on reported taxable income. A marginal increase in tax revenue achieved by a proportional rise in all personal income tax rates involves a deadweight loss of nearly two dollars per incremental dollar of revenue. So because of high taxes, I must earStart studying Microeconomics - Chapter 8 Tax & Deadweight Loss. crusade?An illustrated tutorial on the deadweight loss of taxation, how it varies with the elasticity of supply and demand, the relationship between deadweight loss and tax revenue, and how these concepts can be applied to the taxation of labor and estates. TaxationAcross these proposals, however, is a lack of discussion about the economic costs of increasing income tax rates, such as deadweight loss effects. Rather, it beautifully describes one of the big harms from taxation. £25 billion (see ¶ B1 above)The term "deadweight loss of taxation" refers to the negative manner that better defines the wedge a tax places between buyers & sellers. JEL-codes: C14 C23 J22 (search for similar items in EconPapers)17/10/2015 · It would be nice to report estimates of deadweight loss given user-specified assumptions for the elasticity of taxable income (following Feldstein 1999) or user-specified assumptions for taxable and total income elasticities and the margThe deadweight loss from "nonneutral" capital income taxation / Alan J. The deadweight loss from taxes is the loss imposed on some that is not a gain to anyone. the deadweight loss of a tax is small. You charge $100. com/what-is-the-deadweight-loss-of-a-tax-3885043The deadweight loss of taxation refers to the harm caused to economic efficiency and production by a tax. Summary: In his excellent post on taxes and the incidence of taxes, co-blogger Scott Sumner does not mention another important issue in taxation: deadweight loss. ClassesVisualizzazioni: 5,2 migliaiaWhat is the deadweight loss of a tax? | …Traduci questa paginahttps://answersdrive. The loss of value for both buyers and sellers is called the deadweight loss of taxation. Z. Senator Elizabeth Warren (D-MA) has proposed returning the corporate rate to 35 Taxation and Deadweight Loss: Taxation can be evaluated as a non-market cost. The deadweight lDEADWEIGHT LOSS AND TAX REVENUE AS TAXES VARY The Deadweight Loss Debate – There is considerable debate among economists concerning the size of the deadweight loss from this wage tax. The value generated by any transaction to the buyer and seller is reduced by tax imposed on it by the government. cfm?abstract_id=22583411/04/2010 · Because the relative prices of leisure, excludable income, and deductible consumption are fixed, all of these can be treated as a single Hicksian composite good. Therefore, a tax rate of 20% has a deadweight loss that is more than twice the loss from a 10% tax rate. I have to earn $150 to pay you $100. Alan Auerbach. Stack Exchange network consists of 175 Q&A communities including Stack Overflow, the largest, most trusted online community for developers to learn, Therefore, the marginal tax rate can be used to examine how the tax system distorts incentives. Deadweight Loss Varies with Elasticity. NBER Working Paper No. As a first proxy, deadweight loss as a percentage of tax collected is given by the formula 23/10/2016 · Most government revenue comes from the taxation of transactions and labor. The “Taxable Income Elasticity” Literature . A 10% loss (a conservative guesstimate) of the total of income tax, national insurance, corporation tax and the UBR (£330 billion) is £33 billion. increase by a factor of four. Where a tax increases linearly, the deadweight loss increases as the square of the tax increase. Higher rates of tax generate larger losses, and they increase exponentially as taxes rise. 05/03/2008 · It is a standard proposition in economics that the deadweight loss of a tax rises approximately with the square of the tax rate. Skip navigation Sign in. The deadweight losses are largest immediately after the Civil War, amounting to aboutA first approach to evaluate economic distortions generated by corporate income taxation is to compute the deadweight loss (or Harberger Triangle). Poverty, Malnutrition, And Income Inequality: 23. stays the same C


 
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