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Capital Income Taxation And Resource Allocation
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Book Synopsis Capital Income Taxation and Resource Allocation by : Hans-Werner Sinn
Download or read book Capital Income Taxation and Resource Allocation written by Hans-Werner Sinn and published by North Holland. This book was released on 1987 with total page 436 pages. Available in PDF, EPUB and Kindle. Book excerpt: This monograph investigates the intersectoral, international, and intertemporal allocation effects of alternative systems of capital income taxation characterized by different degrees of integration between corporate and personal taxation, depreciation rules, provisions for interest deductibility, and the like. The systems studied include those of the OECD countries as well as proposed systems advocated by various authors and tax committees. In contrast to the ''Harberger literature'', the book provides a microfoundation for the analysis of tax distortions. It is not assumed that the various components of capital income taxation can be lumped together as an ''effective tax rate'' that captures all the information relevant for assessing the distortions. Instead, the allocative roles of these components are explicitly derived from the households' and firms' optimization problems. Much emphasis is placed on the tax-induced interaction between the firms' real and financial decisions, and it is argued that this interaction fundamentally changes the nature of many of the tax distortions traditionally claimed for the real economy, sometimes even reversing their direction. All allocative results are derived from market equilibrium models. The distortion in the process of capital accumulation, for example, is studied in a perfect foresight intertemporal general equilibrium model with infinitely lived firms and households which is a decentralized version of the neoclassical model of optimal economic growth. Although basically theoretical, the book has a strong policy orientation and comments on a number of issues that are of current political concern. Particular attention is paid to the 1981 and 1986 U.S. tax reforms. It is argued that the 1981 reform was a major cause of the disturbances in international capital markets which troubled the world economy at the beginning of the eighties and that the 1986 policy of 'tax cut cum base broadening' will stimulate economic growth, but induce capital flight from the United States into the rest of the world.
Book Synopsis The Economic Effects of Taxing Capital Income by : Jane Gravelle
Download or read book The Economic Effects of Taxing Capital Income written by Jane Gravelle and published by MIT Press. This book was released on 1994 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt: How should capital income be taxed to achieve efficiency and equity? In this detailed study, tax policy analyst Jane Gravelle, brings together comprehensive estimates of effective tax rates on a wide variety of capital by type, industry, legal form, method of financing, and across time. These estimates are combined with a history and survey of issues regarding capital income taxation that are aimed especially at bringing the findings of economic theory and recent empirical research to nonspecialists and policymakers. Many of the topics treated have been the subject of policy debate and legislation over the last ten or fifteen years.Should capital income be taxed at all? And, if capital income is to be taxed, what is the best way to do it? Gravelle devotes two chapters to the first question, and then, in answer to the second question, covers a broad range of topics - corporate taxation, tax neutrality, capital gains taxes, tax treatment of retirement savings, and capital income taxation and international competitiveness. Gravelle also includes a comprehensive history of tax institutions and data on constructing effective tax rates that are not available elsewhere.
Book Synopsis Reforming Capital Income Taxation by : Horst Siebert
Download or read book Reforming Capital Income Taxation written by Horst Siebert and published by Routledge. This book was released on 2019-07-11 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book surveys the theoretical issues that characterize the problem of reforming capital income taxes in an open economy. It explores the tax incentives and disincentives to investment in an open economy framework allowing cross-border portfolio and direct investment.
Book Synopsis Taxation and Welfare by : Arnold C. Harberger
Download or read book Taxation and Welfare written by Arnold C. Harberger and published by . This book was released on 1974 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: Collection of essays on public finance and welfare economics. Topics covered include: corporation income tax, resource allocation costs, VAT, taxation of mineral industries.
Book Synopsis Intergenerational Allocation of Government Expenditures by : Kazi Iqbal
Download or read book Intergenerational Allocation of Government Expenditures written by Kazi Iqbal and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Taxation of Capital Gains by : Krister Andersson
Download or read book Taxation of Capital Gains written by Krister Andersson and published by International Monetary Fund. This book was released on 1991-10-01 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the main issues that needs to be addressed in the taxation of capital gains. The main focus of the paper is on the tax treatment of capital gains in the United States. The impact of inflation on asset values and the taxation of gains have led to calls for an inflation-adjusted taxation of capital gains. Others have called for the exclusion of a part of the nominal gains from taxation. This paper argues that if the exclusion method is used, the exclusion rate should increase as the holding period gets longer.
Book Synopsis Implications of a Lower Capital Gains Tax Rate in the United States by : International Monetary Fund
Download or read book Implications of a Lower Capital Gains Tax Rate in the United States written by International Monetary Fund and published by International Monetary Fund. This book was released on 1989-12-13 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the literature on the revenue implications of a lower capital gains tax rate in the United States. The existing empirical research indicates that the timing of realizations is sensitive to tax changes but is inconclusive on the long-run revenue implications. No study claims that tax revenues would increase very much on a permanent basis. The paper concludes that other aspects of a lower capital gains tax rate deserves more attention, in particular its impact on resource allocation and tax arbitrage.
Book Synopsis Capital Income Taxation with Portfolio Choice by : Ivo Bakota
Download or read book Capital Income Taxation with Portfolio Choice written by Ivo Bakota and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis On Noncooperative Capital Income Taxation in Open Economies by : Kenneth Kletzer
Download or read book On Noncooperative Capital Income Taxation in Open Economies written by Kenneth Kletzer and published by International Monetary Fund. This book was released on 1990-08 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the strategic use of capital income taxation and lump-sum fiscal policies for gaining national advantage in an integrated world capital market. Each fiscal authority seeks to maximize a social welfare function defined over the utilities of home country residents incorporating national redistributing objectives. A national optimum policy is to impose a non-discriminatory source-based capital income tax or subsidy along with an optimal lump-sum tax and transfer plan. Residence-based capital income taxes do not augment the set of lump-sum fiscal instruments, although both policies can be used to influence the world interest rate to national advantage, redistributing welfare internationally. When unrestricted lump-sum fiscal policies are unavailable, source-based capital income taxes may be needed to achieve distributional objectives, so that departures from global production efficiency can arise in a cooperative equilibrium.
Book Synopsis Tax Reform and the Cost of Capital by : Dale Weldeau Jorgenson
Download or read book Tax Reform and the Cost of Capital written by Dale Weldeau Jorgenson and published by Oxford University Press. This book was released on 1991 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction -- Taxation of income from capital -- The U.S. tax system -- Effective tax rates -- Summary and conclusion.
Book Synopsis The Effects of Taxation on Capital Accumulation by : Martin Feldstein
Download or read book The Effects of Taxation on Capital Accumulation written by Martin Feldstein and published by University of Chicago Press. This book was released on 2009-05-15 with total page 501 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research on capital formation has long been a major focus of studies sponsored by the National Bureau of Economic Research because of the crucial role of capital accumulation in the process of economic growth. The papers in this volume examine the influence of taxes on capital formation, with specific focus on the determinants of saving and the process of investment in plant and equipment.
Book Synopsis Growth Effects of Income and Consumption Taxes by : Gian Maria Milesi-Ferretti
Download or read book Growth Effects of Income and Consumption Taxes written by Gian Maria Milesi-Ferretti and published by . This book was released on 1998 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Taxation of Capital Gains by : Gregg A. Esenwein
Download or read book Taxation of Capital Gains written by Gregg A. Esenwein and published by . This book was released on 1990 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Reforming Capital Income Taxation by : Horst Siebert
Download or read book Reforming Capital Income Taxation written by Horst Siebert and published by Westview Press. This book was released on 1990 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: These are the papers from an international conference held at the Kiel Institute of World Economics. Reform appears most urgent because of the influence of different tax rates on international capital mobility.
Book Synopsis The Economics of Taxation by : Henry Aaron
Download or read book The Economics of Taxation written by Henry Aaron and published by Brookings Institution Press. This book was released on 2011-07-01 with total page 454 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume brings together the contributions of twenty-four economists and lawyers on tax policy. Five papers build on the work of Joseph A. Pechman in analyzing the distribution of tax burdens. A. B. Atkinson relates the analysis of redistribution of income through the tax system to horizontal equity, James Buchanan and Geoffrey Brennan demonstrate that a full analysis of tax burdens must encompass tax-induced inefficiencies, and Boris I. Bittker examines how tax inequities become resource misallocation. In separate papers, Joseph J. Minarik and Benjamin A. Okner elaborate on and extend Pechman’s analyses of tax burdens. Three papers address the concept of tax expenditures: Stanley S. Surrey and Paul R. McDaniel trace the development of the idea, Martin S. Feldstein demonstrates that some use of tax expenditures is necessary for the sake of economic efficiency, and Gerard M. Brannon examines the relations between tax expenditures and the distribution of income. Michael J. Boskin, Richard Goode, Peter Mieszkowski, and John B. Shoven and Paul Taubman examine alternative tax bases. Harvey E. Brazer and Alicia H. Munnell, in separate papers, argue that the basic unit subject to the personal income tax should be the individual rather than the family. David F. Bradford and Arnold C. Harberger analyze changes that would reduce present biases in the tax treatment of investment income. George F. Break and Charles E. McLure, Jr., consider possible improvements in the personal and corporation income taxes imposed by states. E. Cary Brown, Richard A. Musgrave, and Emil M. Sunley deal with fiscal policy. Brown draws lessons from U.S. History since 1945. Musgrave confronts Marxian and other theories of fiscal crises with the facts. Sunley describes the many pitfalls between proposals for even modest tax change and final congressional action.
Book Synopsis The Case for Heavier Capital Gains Taxation by : Roger Nils Folsom
Download or read book The Case for Heavier Capital Gains Taxation written by Roger Nils Folsom and published by . This book was released on 1969 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: Unless tax policy is evaluated not only from a short-run macroeconomic fiscal policy standpoint but also from a longer-run microeconomic policy standpoint that considers taxation's effects upon equity and resource allocation efficiency, federal taxation's unnecessary excess burden will become no lighter and may grow heavier. This paper attempts to redress the balance of the current federal personal and corporate income tax reform discussion, which has paid minimal attention to the case for heavier capital gains taxation. It reviews the capital gains tax policy literature, argues that present tax law's special treatment of capital gains and losses (compared with its treatment of ordinary income and loss) is not justified, and offers specific recommendations for taxing capital gains more heavily. (Author).
Book Synopsis The Economics of Taxation by : Bernard Salanié
Download or read book The Economics of Taxation written by Bernard Salanié and published by MIT Press. This book was released on 2003 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: A graduate-level introduction to the economic theories of taxation.
