National Tax Journal articles from March 1998

National Tax Journal archives from March 1998

The economic case for foreign tax credits for cash flow taxes.
March 1, 1998... INTRODUCTION In recent years, there has been substantial interest in consumption-based direct taxes. In the United States, several consumption tax plans have been proposed, some by members of Congress.(1) Outside the United States, a...

The incidence of development fees and special assessments.
March 1, 1998... INTRODUCTION Thanks to the tax revolt and the high costs of rapid residential development, many jurisdictions have been turning to development fees as a way to finance new infrastructure. In a few states, especially Minnesota, special...

Tax-exempt bonds really do subsidize municipal capital!
March 1, 1998... What is the marginal cost of capital for municipalities, and is it subsidized by the exclusion of municipal bond interest from federal income taxes? A Traditional View holds that the interest rate on tax-exempt bonds is the cost of capital and...

Short-term effects of a 1990S-era property tax limit: panel evidence on Oregon's Measure 5.
March 1, 1998... INTRODUCTION During the late 1970s and early 1980s, half of the United States imposed limitations on the ways in which public school districts (and other local governments) can collect and spend revenues. This national phenomenon of...

Horizontal equity implications of the lottery tax.
March 1, 1998... INTRODUCTION Many authors have analyzed the vertical equity implications of a lottery tax. The results suggest that the inherent tax on lottery games is regressive, with those least able to pay bearing the greatest tax burden. A related...

Tax mimicking among Belgian municipalities.
March 1, 1998... INTRODUCTION Recent empirical work has shown that tax policies are copied among U.S. states and local governments (Ladd, 1992; Case, 1993; Besley and Case, 1995). The existence of such tax mimicking has important implications, both from...

The optimal supply of public goods and the distortionary cost of taxation: comment.
March 1, 1998... Louis Kaplow argues in his recent paper that there are a wide variety of situations in which the income tax financing of a public good is nondistortionary. Specifically, this occurs when the additional tax liability of each person...

A note on the optimal supply of public goods and the distortionary cost of taxation.
March 1, 1998... My paper advanced an unconventional view of how policy analysis of public goods (and corrective taxes)' should be conducted in a world with a preexisting income tax that is distortionary and redistributive. In simple terms, my claim had two...

Tax aspects of the 1997 budget deal.
March 1, 1998... INTRODUCTION Still smarting from their defeat over the budget by President Bill Clinton during the 104th Congress, congressional Republicans entered the 105th Congress in January 1997, determined to avoid another such confrontation....

Light at the end of the tunnel or another illusion? The 1997 budget deal.
March 1, 1998... INTRODUCTION When the Balanced Budget Act and the Taxpayer Relief Act (BBA and TRA) were signed into law on August 5, 1997, the president and congressional leaders heralded the occasion as historic, bringing to an end the two decade long...

Cracking the Code: Making Sense of the Corporate Alternative Minimum Tax.
March 1, 1998... By ANDREW B. LYON. Washington, D.C.: The Brookings Institution, 1997. Pp. 156. It is rare that an entire book can be devoted to a narrow aspect of the tax code, but such an investment is important to understand the political and legislative...