National Tax Journal articles from June 1996

National Tax Journal archives from June 1996

Social security and saving: new time series evidence.
June 1, 1996... More than 20 years ago I published an analysis of the effect of Social Security retirement benefits on personal saving (Feldstein, 1974). That paper extended the traditional life-cycle model by recognizing that the age at which retirement occurs...

Retail price reactions to changes in state and local sales taxes.
June 1, 1996... State and local governments currently raise slightly less than one-third of their nongrant revenue from sales taxes. in spite of their importance as a revenue source, state sales taxes have been subject to relatively little empirical analysis....

The impact of the 1986 tax reform on ex-dividend day volume and price behavior.
June 1, 1996... In September 1986, the most sweeping revision of the U.S. tax code in nearly half a century became law. The new tax law eliminated the preferential tax treatment of long-term capital gains. Under the old law, capital gains on assets held at least...

Taxes and corporate charity: empirical evidence from micro-level panel data.
June 1, 1996... Contributions to charity by U.S. corporations grew significantly during the 1980s, both in absolute and relative terms. The level of giving increased from $2.4 billion in 1980 to $4.5 billion in 1985 to over $6 billion by the end of the...

Reassessing the tax-favored status of the charitable deduction for gifts of appreciated assets.
June 1, 1996... INTRODUCTION The legislative intent of the charitable deduction is to provide an economic incentive for individuals to support worthy causes. A donor who makes a cash contribution receives a tax subsidy equal to his or her marginal ordinary...

Tax policy, lump-sum pension distributions, and household saving.
June 1, 1996... As of May 1988, over 8 million workers had received a total of $42 billion(1) in preretirement lump-sum distributions (LSDs) from their pension plans when they changed jobs. Over 85 percent of these workers did not roll over any of their LSDs...

Comment on Grubert and Newlon, "The International Implications of Consumption Tax Proposals." (response to Harry Grubert and T. Scott Newlon, National Tax Journal, vol. 48, no. 4, p. 619, December 1995)
June 1, 1996... INTRODUCTION Grubert and Newlon (1995) present a thorough, well-considered, and well-balanced analysis of the international implications of the current proposals to adopt one of several consumption tax regimes in the United States. They reach...

Reply to Avi-Yonah. (response to article by Reuven S. Avi-Yonah in this issue, p. 259)
June 1, 1996... INTRODUCTION We are grateful for Professor Avi-Yonah's (mostly) kind words and his useful summary of our paper. His comment has two parts: (1) He believes our analysis definitely implies that the destination principle is superior to the origin...

Issues raised by the new federalism.(Symposium on the Devolution Revolution)
June 1, 1996... INTRODUCTION The November 1994 elections reignited interest in many fundamental issues. The assignment of functional roles to local, state, and federal governments, the appropriate balance between the public and private sectors, and the...

Federalism and reductions in the federal budget.(Symposium on the Devolution Revolution)
June 1, 1996... INTRODUCTION Our national constitution incorporates built-in tensions of economic federalism, enumerating certain powers for the central government, while reserving others for the states. The historical resolution of these tensions has a...