Dale W. Jorgenson and Kun‐Young Yun
- Published in print:
- 1991
- Published Online:
- November 2003
- ISBN:
- 9780198285939
- eISBN:
- 9780191596490
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198285930.003.0003
- Subject:
- Economics and Finance, Public and Welfare
A quantitative and detailed description is presented of the US tax system and law, which begins by providing estimates of the rates of capital income taxation at both corporate and individual levels ...
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A quantitative and detailed description is presented of the US tax system and law, which begins by providing estimates of the rates of capital income taxation at both corporate and individual levels for the period 1947–86; property tax rates are also presented for household, non-corporate and corporate sectors. It is noted that the adoption of these tax preferences in the USA dramatically altered the incentives to invest in different types of assets and radically changed the distribution of the tax burden. Provisions are then discussed for capital cost recovery, including capital consumption allowances and the investment tax credit; next, a description is given of features of the financial structure of corporate and non-corporate businesses and households that affect the taxation of income from capital. Finally, the impact is considered of the Tax Reform Act of 1986 on the US tax system, especially in relation to the tax (financial) structure for income from capital; alternative approaches are considered. The data presented can be used to implement either the traditional or the new view of the corporate cost of capital.Less
A quantitative and detailed description is presented of the US tax system and law, which begins by providing estimates of the rates of capital income taxation at both corporate and individual levels for the period 1947–86; property tax rates are also presented for household, non-corporate and corporate sectors. It is noted that the adoption of these tax preferences in the USA dramatically altered the incentives to invest in different types of assets and radically changed the distribution of the tax burden. Provisions are then discussed for capital cost recovery, including capital consumption allowances and the investment tax credit; next, a description is given of features of the financial structure of corporate and non-corporate businesses and households that affect the taxation of income from capital. Finally, the impact is considered of the Tax Reform Act of 1986 on the US tax system, especially in relation to the tax (financial) structure for income from capital; alternative approaches are considered. The data presented can be used to implement either the traditional or the new view of the corporate cost of capital.
Yanek Mieczkowski
- Published in print:
- 2005
- Published Online:
- September 2011
- ISBN:
- 9780813123493
- eISBN:
- 9780813134956
- Item type:
- chapter
- Publisher:
- University Press of Kentucky
- DOI:
- 10.5810/kentucky/9780813123493.003.0008
- Subject:
- History, American History: 20th Century
This chapter examines the details of former U.S. President Gerald Ford's proposals for reducing inflation developed in coordination with the EPB and his newly created Council on Wage and Price ...
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This chapter examines the details of former U.S. President Gerald Ford's proposals for reducing inflation developed in coordination with the EPB and his newly created Council on Wage and Price Stability (CWPS). These include laws against price fixing, the imposition of a surtax, a limitation of spending for the fiscal year 1975 to $300, and increasing business investment tax credit. This chapter discusses the Democratic Congress' reactions to Ford's proposals.Less
This chapter examines the details of former U.S. President Gerald Ford's proposals for reducing inflation developed in coordination with the EPB and his newly created Council on Wage and Price Stability (CWPS). These include laws against price fixing, the imposition of a surtax, a limitation of spending for the fiscal year 1975 to $300, and increasing business investment tax credit. This chapter discusses the Democratic Congress' reactions to Ford's proposals.
