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Essays On Capital Gains Taxes And Housing
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Book Synopsis Essays on Capital Gains Taxes and Housing by : Zachary William Richards
Download or read book Essays on Capital Gains Taxes and Housing written by Zachary William Richards and published by . This book was released on 2009 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation is a collection of three essays regarding the effects of federal taxation of residential capital, with a focus on owner-occupied housing. Owner-occupied housing is granted a number of tax subsidies under the federal individual income tax code. Among them are the mortgage interest and property tax deductions and the tax exclusions on imputed rental income for the homeowner and capital gains from the sale of a primary residence. In the first essay, entitled ʺDoes the Exclusion of Capital Gains Taxes on Housing Promote Labor Mobility?", I examine the impact of the Taxpayer Relief Act of 1997 (TRA97), which dramatically reduced effective tax rates on residential capital gains, on the likelihood of a homeowner undertaking a job-related relocation. The results indicate that homeowners with large accrued gains are more likely to move for job-related reasons after the passage of TRA97 than before, implying efficiency gains from a spatial reallocation of labor. In the second essay, "The Effects of EGTRRA and JGTRRA Expiration on the User Cost of Housing", I calculate last-dollar user costs for owner-occupants using an augmented model that incorporates the current tax exclusion of residential capital gains. User cost calculations are made under current and future policy to determine the effects of higher marginal income and capital gains tax rates on the costs of homeownership. The results indicate that the expiration of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) and the Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA) will have a regressive effect on user costs, with high-income homeowners receiving the largest percentage reductions despite higher long-term capital gains tax rates. The final essay, "Residential Capital Gains Taxes and the Dynamics of Housing Markets", examines the macroeconomic implications of TRA97. I present evidence that a structural break occurred around the time of its implementation, affecting the relationship between aggregaegate measures of the housing market, money growth, and output. This suggests that effective tax rates on residential capital gains play an important role in the fluctuations of residential fixed investment and may alter the impacts of monetary policy.
Book Synopsis Essays in Taxation by : Edwin Robert Anderson Seligman
Download or read book Essays in Taxation written by Edwin Robert Anderson Seligman and published by New York, Macmillan. This book was released on 1895 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on Capital Gains, Household Consumption, and Corporate Payout Policy by : Chris Mitchell (Ph.D.)
Download or read book Essays on Capital Gains, Household Consumption, and Corporate Payout Policy written by Chris Mitchell (Ph.D.) and published by . This book was released on 2012 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: My dissertation consists of three chapters related to accrued capital gains. The first essay is concerned with estimating the marginal propensity to consume (MPC) out of accrued capital gains on owner-occupied housing in Canada. Its main methodological contribution lies in using a hedonic price equation to value these gains. The results suggest that for every 1 dollar increase in expected housing capital gains households increase total consumption by approximately 9.4 cents, and increase non-durable consumption by 7.3 cents. The second essay of this thesis proposes a model of economic behaviour that can explain why corporations pay dividends despite their tax disadvantage relative to share repurchases. The key result is that firms must pay a premium above the intrinsic value of equity to repurchase shares, reflecting the lock-in effect caused by a realization-based capital gains tax system. In equilibrium, firms pay dividends whenever this additional cost is sufficiently high. The third essay examines the effect of capital income taxation on corporate payout policy in Canada. The analysis makes use of a new dataset on share repurchases carried out by Toronto Stock Exchange listed Canadian corporations over the period 1987-2008. It also uses new estimates of Canadian average marginal tax rates applied to capital income. The results suggest that total payout is positively related to changes in both the corporate income tax rate and the capital gains tax rate, but is unaffected by the dividend tax rate. The results also suggest that share repurchase levels are positively related to changes in the dividend tax rate and negatively related to changes in the capital gains tax rate. Dividend payments are found to have a positive relationship with changes to the capital gains tax rate.
Book Synopsis Taxes and Capital Formation by : Martin Feldstein
Download or read book Taxes and Capital Formation written by Martin Feldstein and published by University of Chicago Press. This book was released on 2007-12-01 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists have long recognized the importance of capital accumulation for productivity and economic growth. The National Bureau of Economic Research is currently engaged in a study of the relationship between such accumulation and taxation policies, with particular focus on saving, risk-taking, and corporate investment in the United States and abroad. The papers presented in Taxes and Capital Formation are accessible, nontechnical summaries of fourteen individual research projects within that study. Complete technical reports on this research are published in a separate volume, The Effects of Taxation on Capital Accumulation, also edited by Martin Feldstein. By addressing some of the most critical policy issues of the day with a minimum of economic jargon, Taxes and Capital Formation makes the results of Bureau research available to a wide audience of policy officials and staff as well as to members of the business community. The volume should also prove useful for courses in public policy, business, and law. In keeping with Bureau tradition, the papers do not contain policy recommendations; instead, they promote a better understanding of how the economy works and the effects of specific policies on particular aspects of the economy.
Book Synopsis Essays on the Taxation of Capital Gains by : Ricardo de Oliveira Cavalcanti
Download or read book Essays on the Taxation of Capital Gains written by Ricardo de Oliveira Cavalcanti and published by . This book was released on 1997 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Taxation of Income from Capital by : Arnold C. Harberger
Download or read book The Taxation of Income from Capital written by Arnold C. Harberger and published by . This book was released on 1969 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: Compilation of papers on problems of income taxation and the effects thereof on capital gains in the USA - covers economic implications, legal aspects of the tax system, fiscal policy, long term pattern of financing of enterprises, the effects of income taxation on labour force supply, etc., and includes statistical tables and information on personal income and investment. References.
Book Synopsis Essays on Housing Markets, Housing Market Policies, and Taxation by : Shahar Rotberg
Download or read book Essays on Housing Markets, Housing Market Policies, and Taxation written by Shahar Rotberg and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis collects three papers studying topics related to housing markets, taxation, and macroeconomics. In Chapter 1, I study how capital and housing should be taxed. I formulate a housing model where credit is limited and the ability to invest capital varies across households. I calibrate the model to U.S. data and use it to determine the effect of housing and capital income taxation on the housing market and societal welfare. My main finding is that housing should be taxed at a positive rate and capital income should be subsidized. On the one hand, the housing tax raises housing costs for both renters and home-owners. On the other hand, the capital income subsidy encourages the most productive households to increase their capital investments, and thus, wages paid to labor rise. Since wages rise more rapidly than housing costs, overall welfare rises. In Chapter 2, I examine the misallocation of residential land in Israel and its implications for income taxation and societal welfare. I develop a methodology to calibrate a housing model to a transition path of over 50 years of Israeli data on land sales and show that Israel's government substantially oversold land and could have reduced its income tax rate by 1.8 percentage points. Restricting land sales is optimal because initial retired households own little land, initial housing demand is low and grows faster than interest rates, and because of the need to preserve land for large future generations. In Chapter 3, I explore the effect of wage income expectations on housing prices. I build a housing model, calibrate it to U.S. data, and show that wage income expectations alone can explain about 20% of the 2008 boom-bust in U.S. housing prices. The result is an outcome of households' perception that their expected life-time wage income is going up (down) during a sequence of good (bad) income shocks, which leads to a rapid increase (decrease) in housing demand and thus housing prices. This phenomenon is absent with rational expectations.
Book Synopsis Four Essays on Housing Market Dynamics by : Yasuhiro Nakagami
Download or read book Four Essays on Housing Market Dynamics written by Yasuhiro Nakagami and published by . This book was released on 1989 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays in Aging, Taxation, and Residential Location by : Martin P. Farnham
Download or read book Essays in Aging, Taxation, and Residential Location written by Martin P. Farnham and published by . This book was released on 2006 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Effect of Capital Gains Taxation on Home Sales by : Hui Shan
Download or read book The Effect of Capital Gains Taxation on Home Sales written by Hui Shan and published by . This book was released on 2008 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays in Taxation by : Edwin Robert Anderson Seligman (R. A.)
Download or read book Essays in Taxation written by Edwin Robert Anderson Seligman (R. A.) and published by . This book was released on 1913 with total page 738 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Equitable Taxation by : John Winslow Cabot
Download or read book Equitable Taxation written by John Winslow Cabot and published by . This book was released on 1892 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Taxation, Housing Markets, and the Markets for Building Land by : Bernd Gutting
Download or read book Taxation, Housing Markets, and the Markets for Building Land written by Bernd Gutting and published by Springer. This book was released on 1987 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Land-value Taxation by : Kenneth C. Wenzer
Download or read book Land-value Taxation written by Kenneth C. Wenzer and published by . This book was released on 1999 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of 20 essays examines the merits of land-value taxation and distinguishes it from the conventional property tax because it has a more benign economic influence. It includes four essays by William S. Vickrey, the 1996 Nobel laureate in economics.
Book Synopsis Essays in Taxation by : Edwin Robert Anderson Seligman
Download or read book Essays in Taxation written by Edwin Robert Anderson Seligman and published by Obscure Press. This book was released on 2006 with total page 436 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essays in Taxation Originally written in 1905, this is a series of essays by Edwin Seligman, Professor of Political Economy and Finance at Columbia University.Contents Include The Development of Taxation, The General Property Tax, The Single Tax, Double Taxation, Inheritance Tax, Taxation of Corporations History, Principles amp Complications, Classifications of Public Revenues, Recent Reforms in Taxation, The Betterment Tax, European Literature on Taxation, American Reports of Taxation. Many of the earliest books, particularly those dating back to the 1900s and before, are now extremely scarce and increasingly expensive. Obscure Press are republishing these classic works in affordable, high quality, modern editions, using the original text and artwork.Keywords: Tax Taxation Double Taxation Columbia University Inheritance Tax Edwin Seligman European Literature Single Tax Property Tax Public Revenues Betterment Political Economy 1900s Corporations Artwork
Book Synopsis Capital Gains Tax and the Private Residence by : David E. Williams
Download or read book Capital Gains Tax and the Private Residence written by David E. Williams and published by . This book was released on 2012-04 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The A B C of Taxation by : Charles Bowdoin Fillebrown
Download or read book The A B C of Taxation written by Charles Bowdoin Fillebrown and published by . This book was released on 1909 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: Plates printed on both sides.
