The Economic Effects of Comprehensive Tax Reform

The Economic Effects of Comprehensive Tax Reform

I. Introduction -- II. Recent tax reform proposals -- III.

Author: Paul L. Houts

Publisher: Congress

ISBN: MINN:31951D00376036D

Category: Income tax

Page: 78

View: 639

I. Introduction -- II. Recent tax reform proposals -- III. Effects on the macroeconomy -- IV. Effects on the allocation of resources -- V. Effects on economic efficiency -- Appendix A. What will a consumption-based tax do to the price level and the value of existing assets? -- Appendix B. Simulation models and the saving response -- Appendix C. Fullerton-Rogers General-equilibrium model.
Categories: Income tax

Economic Effects of Comprehensive Tax Reform

Economic Effects of Comprehensive Tax Reform

Proposals for fundamental tax reform would replace the current Fed. income tax system with a comprehensive consumption- based tax.

Author: Diane Lim Rogers

Publisher:

ISBN: 0788146300

Category:

Page: 78

View: 592

Proposals for fundamental tax reform would replace the current Fed. income tax system with a comprehensive consumption- based tax. Objectives of tax reform include stimulating economic activity and promoting a more efficient allocation of resources. Some common features of recent proposals are a broader tax base, more uniform rates, and a tax on consumption. This study analyzes the major economic effects of several tax reform plans, focusing on the effects on saving and investment, output, and the allocation of resources within the economy, and the ultimate impacts of those changes on social well-being. Charts and tables.
Categories:

The Economic Effects of Comprehensive Tax Reform

The Economic Effects of Comprehensive Tax Reform

A number of recent proposals for fundamental tax reform would replace the current federal income tax system with a comprehensive consumption-based tax.

Author:

Publisher:

ISBN: OCLC:227850853

Category:

Page: 85

View: 121

A number of recent proposals for fundamental tax reform would replace the current federal income tax system with a comprehensive consumption-based tax. Objectives of tax reform include stimulating economic activity and promoting a more efficient allocation of resources. Many common features of recent proposals could achieve those results-for example, a broader tax base, more uniform rates, and a tax on consumption rather than income. This Congressional Budget Office (CBO) study analyzes the major economic effects of several tax reform plans and finds that much uncertainty surrounds the likelihood and magnitude of the economic gains from tax reform. The study focuses on the effects on saving and investment, output, and the allocation of resources within the economy, as well as the ultimate impacts of those changes on social well-being. The study was prepared at the request of Senators Pete Domenici, Robert Bennett, Joseph Biden, and Robert Kerrey and former Senator Sam Nunn.
Categories:

The Challenges of Tax Reform in a Global Economy

The Challenges of Tax Reform in a Global Economy

This book presents 15 original papers and commentaries by a distinguished group of tax policy and tax administration experts.

Author: James Alm

Publisher: Springer Science & Business Media

ISBN: 0387299122

Category: Business & Economics

Page: 474

View: 689

This book presents 15 original papers and commentaries by a distinguished group of tax policy and tax administration experts. Using international examples, they highlight the state of knowledge of tax reform, present new thinking about the issue, and analyze useful policy options. The book’s general goal is to examine the current and emerging challenges facing tax reformers and to assess possible directions future reforms are likely to take. More specific themes include distributional issues, how to tax capital income, how to design specific taxes (e.g., the income tax, the value-added tax, the property tax), how to consider the politics and administrative aspects of tax reform, and how to combine the separate insights into comprehensive tax reform.
Categories: Business & Economics

An Economic Analysis of Income Tax Reforms

An Economic Analysis of Income Tax Reforms

Whilst ensuring the tax system reforms dose not hinder economic growth. This book should be required reading for anyone interested in the problems and promise of tax reform.

Author: G.C Ruggeri

Publisher: Routledge

ISBN: 9780429842856

Category: Business & Economics

Page: 20

View: 781

First published in 1998, Ruggeri and Vincent analyse different tax reform proposals to create a discourse on dispelling the myths surrounding the flat tax. This book proposes a progressive and comprehensive tax reforms, whilst simplifying the tax system for the vast majority of tax payers. Whilst ensuring the tax system reforms dose not hinder economic growth. This book should be required reading for anyone interested in the problems and promise of tax reform.
Categories: Business & Economics

Investment Volume 3

Investment  Volume 3

A presentation of the cost-of-capital approach for analyzing the economic impact of tax policy. This book presents a comprehensive treatment of the cost-of-capital approach for analyzing the economic impact of tax policy.

Author: Dale W. Jorgenson

Publisher: MIT Press

ISBN: 9780262529655

Category: Business & Economics

Page: 496

View: 782

A presentation of the cost-of-capital approach for analyzing the economic impact of tax policy. This book presents a comprehensive treatment of the cost-of-capital approach for analyzing the economic impact of tax policy. This approach has provided an intellectual impetus for reforms of capital income taxation in the United States and around the world. The cost of capital and the marginal effective tax rate are combined with estimates of substitution possibilities by businesses and households in analyzing tax and spending programs. This makes it possible to evaluate tax reforms and changes in government spending. Studies of the economic impact of tax policies have taken two forms. First, the cost of capital has been incorporated into investment functions in macroeconomic models, which are used to model the short-run responses to tax policy changes. Second, the cost-of-capital approach has been integrated into applied general-equilibrium models used in evaluating the long-run economic effects of tax reforms. The cost-of-capital approach suggests two avenues for tax reform. One would retain the income tax base of the existing U.S. tax system, but would equalize tax burdens on all forms of assets as well as average and marginal tax rates on labor income. The other would substitute consumption for income as a tax base, while equating average and marginal tax rates on labor income.
Categories: Business & Economics

The Guatemalan Tax Reform

The Guatemalan Tax Reform

In this concise volume, Roy Bahl, Jorge Martinez-Vazquez, and Sally Wallace review the data that supported the creation of the reform program and evaluate the first round of revenues and tax-burden effects.Focusing their theoretical and ...

Author: Roy Bahl

Publisher: Westview Press

ISBN: STANFORD:36105018358916

Category: Business & Economics

Page: 160

View: 502

In each case, they describe the existing tax system and evaluate it against the traditional norms; in addition, they analyze alternative structural reforms within the Guatemalan context.
Categories: Business & Economics

The Spanish Fiscal Transition

The Spanish Fiscal Transition

This book provides an analysis of the process and outcomes of the tax reform, with a focus on progressivity, redistribution, and inequality.

Author: Sara Torregrosa Hetland

Publisher: Springer Nature

ISBN: 9783030795412

Category: Business & Economics

Page: 237

View: 778

This book provides an analysis of the process and outcomes of the tax reform, with a focus on progressivity, redistribution, and inequality. Between 1977 and 1986, Spain underwent a comprehensive tax reform which shaped its fiscal system until today. It was made in connection with the transition to democracy and indeed was understood as a fundamental part of the political change. The book situates the reform both within Spanish history and international trends in tax systems and connects it to the expansion of the welfare state and regional decentralization in Spain. The analysis reveals that the tax system failed to attain progressivity, and significant levels of fraud had a noticeable impact on inequality. Because of this, fiscal redistribution remained limited. In the new political economy of the second globalization, late democratic and fiscal transitioners were unable to emulate the path of the welfare state forerunners.
Categories: Business & Economics

Handbook on Taxation

Handbook on Taxation

Any tax relief given to people with existing assets is thus likely to erode some of the economic benefits of fundamental tax reform. C. Evaluating Comprehensive Tax Reform Taxes often lead to undesirable economic effects because they ...

Author: W.Bartley Hildreth

Publisher: Routledge

ISBN: 9781351564281

Category: Political Science

Page: 1008

View: 577

A groundbreaking reference, this book provides a comprehensive review of tax policy from political, legal, constitutional, administrative, and economic perspectives. A collection of writings from over 45 prominent tax experts, it charts the influence of taxation on economic activity and economic behavior. Featuring over 2400 references, tables, equations, and drawings, the book describes how taxes affect individual and business behavior, shows how taxes operate as work and investment incentives, explains how tax structures impact different income groups, weighs the balanced use of sales, property, and personal income taxes, traces the influence of recent tax changes, and more.
Categories: Political Science