National Tax Journal articles from December 2004

National Tax Journal archives from December 2004

The bond market and fiscal institutions: have budget stabilization funds reduced state borrowing costs?
December 1, 2004... INTRODUCTION The bond market plays an integral role in the public sector. Each year state governments issue bonds to finance a variety of projects ranging from the construction of schools to the building of roads. In fiscal year 1998 for...

Effective tax rate changes and earnings stripping following corporate inversion.
December 1, 2004... INTRODUCTION In a typical corporate inversion, a U.S.-domiciled parent corporation forms a new subsidiary in a tax haven country, and the haven-domiciled entity becomes the parent company of the firm's U.S. and foreign operations....

Marriage penalties in public programs: social security's child-in-care widow(er) benefits.
December 1, 2004... INTRODUCTION Although there has been a recent policy focus on ending marriage penalties in the income tax system, the tax system is just one of many government policies that is not marriage neutral. For example, a large literature focuses...

Taxation and the demand for gambling: new evidence from the United Kingdom.
December 1, 2004... INTRODUCTION Gambling is relatively socially acceptable in the U.K. and has rarely engendered any concerted religious opposition, in contrast to the U.S. Indeed, much of the gambling activity in the U.K. occurs at street corner betting...

Inefficiencies of Bilateral Advanced Pricing Agreements (BAPA) in taxing multinational companies.
December 1, 2004... INTRODUCTION Tax avoidance by multinational companies is a serious problem for governments. Since tax systems differ across countries, multinational companies can reduce their tax burden by shifting their profits to countries with...

The economics of corporate tax selfishness.
December 1, 2004... INTRODUCTION The corporation income tax occupies a tenuous place in the economics of taxation. The theory of taxation stresses the importance of looking through the corporate entity and tracing the incidence of the tax to the shareholders,...

The corporate tax: where has it been and where is it going?(Forum: Current Issues in Corporate Taxation)
December 1, 2004... INTRODUCTION The tax on corporate source income tax has declined significantly in its importance as a source of revenue and in its marginal burden over the past half century, a trend that is continued in recent (albeit technically...

The tax shelter problem.
December 1, 2004... INTRODUCTION Tax shelters are in the news and there is a welcome growth in the academic literature on this topic. (1) However, the complexity of the tax law, and of the shelters themselves, makes it difficult for even the readers of this...

Old rules and new realities: corporate tax policy in a global setting.
December 1, 2004... INTRODUCTION Markets and economies evolve continuously, making yesterday's tax solutions possibly much less efficient or desirable today. Time also brings changes in our understanding of the impact, and wisdom, of different tax choices,...

Contemporary U.S. Tax Policy.(Book Review)
December 1, 2004... Contemporary U.S. Tax Policy. By C. EUGENE STEUERLE. Washington, D.C.: Urban Institute Press, 2004, pp. 232. Murray Kempton (1994) once wrote: "Santayana missed the point when he said that those who forget history are condemned to repeat...