The paper studies the effects of tax policy on venture capital activity. Entrepreneurs pursue a single high risk … managerial advice. It considers dierential wage and capital income taxes, a comprehensive income tax, incomplete loss offset …

Much criticism of the income tax involves administration: the enormous complexity of the system is responsible for … large compliance costs, public and private, and the tax gap is large despite substantial resources devoted to enforcement … fundamental restructuring of the tax system. But evaluation of such changes is difficult because the underlying problems have not …

equivalent tax incentives to result in meaningfully different behaviors. We argue that in the presence of such failures of … "implementation invariance," decoupling the question of optimal feasible allocations from the tax system used to induce them …--the "mechanism design approach" to tax analysis--cannot be the right approach to analyzing optimal tax systems. After reviewing the …

I examine Ronald Coase's criticism of standard regulatory and tax policies to address environmental externalities. I …. Regulation, tax, and Coasean exchange, such as through cap-and-trade regimes, are presented as substitutes, based on the relative … and tax policies, although these costs have received somewhat more attention with cap and trade regimes. Coasean exchange …

tax rate for someone who (due to luck) became rich either five or one year(s) ago. Subjects faced with the five …-year scenario choose a lower tax rate, indicating respect for the more deeply embedded (five-year) reference point. Our results thus …

without commitment. This policy features a state-contingent macroprudential debt tax that is strictly positive at date t if a …