National Tax Journal articles from December 1998

National Tax Journal archives from December 1998

Capital gains taxation and new firm investment.
December 1, 1998... An oft-stated dictum of journalists and politicians is that a cut in capital gains taxation will increase economic growth, by encouraging investment in new firms.(1) Much of the initial return on these newly formed firms, the reasoning goes, is...

Differential taxation and tax evasion by small business.
December 1, 1998... INTRODUCTION It is commonly believed that the self-employed exhibit lower rates of voluntary compliance than taxpayers whose primary sources of income are wages and salaries. For example, the Internal Revenue Service (IRS, 1988) estimates...

Flat taxes and effective tax planning.
December 1, 1998... INTRODUCTION Hall and Rabushka (1995) present a simple flat tax regime that eliminates many current sources of income and deductions.(1) Their proposal has been embraced by many politicians and has been introduced as legislation in the...

Balanced budgets and business cycles: evidence from the states.
December 1, 1998... "To keep the budget balanced would aggravate recessions." --Petition signed by 1,100 economists, including 11 Nobel laureates, NY Times 2/3/97. INTRODUCTION Proposals to amend the U.S. Constitution to require annually...

The impact of state disclosure requirements on municipal yields.
December 1, 1998... INTRODUCTION The municipal bond market consists of approximately 1.5 million distinct issues, with a face value in excess of $1.3 trillion, sold by over 50,000 different government entities. Despite the enormous size of this market,...

Econometric issues in estimating the behavioral response to taxation: a nontechnical introduction.
December 1, 1998... INTRODUCTION Understanding how individuals, families, and households adjust their behavior in response to taxation is one of the most important tasks facing public finance economists. Taxation affects many aspects of individual behavior,...

Methodological issues in measuring and interpreting taxable income elasticities.
December 1, 1998... INTRODUCTION The Central Role of Behavioral Elasticities The notion of a behavioral elasticity occupies a central place in the economic analysis of taxation. Undergraduate textbooks teach that the incidence of a tax depends on the...