Examines various economic models and explains how technology, demographics, and capital accumulation affect economic policy (including how taxes alter investment incentives).

Examination, from the vantage point of equity and efficiency, of federal tax policy toward small businesses. Considers the relatively few tax provisions that explicitly target small businesses, and concludes that current tax-based subsidies are not justified.

Examines issues faced by state and local governments under proposed federal income tax reform. Argues that efficient taxation of consumption provided by the government sector is difficult and that attempts to do so will have a dramatic effect on amount of financing and production of government...