National Tax Journal articles from June 2002

National Tax Journal archives from June 2002

Distributional effects of carbon allowance trading: how government decisions determine winners and losers.
June 1, 2002... INTRODUCTION A recently released draft of a study by the United Nation's Intergovernmental Panel on Climate Change predicts that the earth's surface temperature will rise 2.5 to 10.4 degrees Fahrenheit between 1990 and 2100--an increase...

Who pays and who benefits? Examining the distributional consequences of the Georgia Lottery for Education.
June 1, 2002... INTRODUCTION While state-sponsored lotteries have been a part of the U.S. public finance landscape since the nation's birth (Clotfelter and Cook, 1989), perhaps few lotteries have enjoyed the enormous popularity of Georgia's "Lottery for...

Strategic apportionment of the state corporate income tax; an applied general equilibrium analysis.
June 1, 2002... INTRODUCTION The U.S. uses a formulary method to apportion the taxable income of multistate corporations, with the allocation of income to each state based on the relative distribution of the firm's sales, payroll, and property in that...

Do state economic development incentives create jobs? An analysis of state employment tax credits.
June 1, 2002... INTRODUCTION Employment tax credits have become one of the primary tools of state economic development policy, with just over one-half of the states in the U.S. offering this form of tax incentive. A recurring question is whether these...

Should financial services be taxed under a consumption tax? Probably.
June 1, 2002... INTRODUCTION In a recent paper, Grubert and Mackie (2000) concluded that financial services to consumers should be exempted from a broad-based consumption tax, even if the services are paid for separately and their cost is not included in...

Unfinished business of the 1986 Tax Reform Act: an effective tax rate analysis of current issues in the taxation of capital income.
June 1, 2002... INTRODUCTION While intended to improve the overall taxation of capital income, the capital income tax provisions of the 1986 Tax Reform Act had a theoretically ambiguous effect on economic efficiency. On one hand, by repealing the...

Corporate taxation, capital formation, and the substitution elasticity between labor and capital.
June 1, 2002... INTRODUCTION When discussing economic policy issues with President Harry Truman, Dr. Edwin Nourse (the first chairman of the U.S. Council of Economic Advisers) remarked "On the one hand... but then on the other hand... " After Dr. Nourse...