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Following Meade (1978), we reconsider issues in the design of taxes on corporate income. We outline developments in economies and in economic thought over the last thirty years, and investigate how these developments should affect the design of taxes on corporate income. We consider a number of...
Persistent link: https://www.econbiz.de/10012464153
In theory, the U.S. tax system aims to attribute and tax all business income to individuals. But the tax treatment of this income varies. Pass-through income is taxed when earned; capital-gains income is taxed when realized; dividends when distributed; other forms of business income may escape...
Persistent link: https://www.econbiz.de/10012455902
Goods producers increase their capital expenditure and employment in response to a cut in marginal corporate income tax rates or an increase in investment tax credits. In contrast, companies in the service sector mostly use any tax windfall to increase dividend payouts. We base our conclusions...
Persistent link: https://www.econbiz.de/10014287379
This paper analyzes the interaction between corporate taxes and corporate governance. We show that the characteristics of a taxation system affect the extraction of private benefits by company insiders. A higher tax rate increases the amount of income insiders divert and thus worsens governance...
Persistent link: https://www.econbiz.de/10012467710
weak outsider property rights enforcement in Russia. Keywords: institutional environment and internal labor market …
Persistent link: https://www.econbiz.de/10012465657
trajectories on induced innovation, providing general conditions under which the optimal carbon path should, at least eventually …
Persistent link: https://www.econbiz.de/10012479889
This paper studies the effect of corporate and personal taxes on innovation in the United States over the twentieth … innovation: higher personal and corporate income taxes negatively affect the quantity and quality of inventive activity and shift … to another are important, but do not account for all of the effect. Agglomeration effects from local innovation clusters …
Persistent link: https://www.econbiz.de/10012480635
This paper exploits a tax reform on manufacturing firms in China to study the impact of taxes on firm innovation. The … innovation. Moreover, the reform has a bigger impact on firms that are financially constrained and firms that engage more in tax …
Persistent link: https://www.econbiz.de/10012480798
products to China. We find causal evidence that offshoring impacts both the level and nature of innovation. In the technologies … directly related to product categories that could be offshored more easily after the policy shock, overall innovation levels … decline and innovative effort shifts away from product innovation and towards process innovation. However, we also find …
Persistent link: https://www.econbiz.de/10012616565
various dimensions of upgrading --- learning, quality upgrading, technology adoption, and product innovation. The second part …
Persistent link: https://www.econbiz.de/10012696370