This paper presents estimates of the tax benefits generated by a sample of U.S. mergers and acquisitions involving two … another sample of "pseudomergers" that did not occur to determine the impact of these tax benefits on the probability of two … that the tax losses and credits of acquired firms likewise exerted no impact on merger activity. Though the use of such …

We show the unique form that must be taken by a tax system based entirely on realization accounting to implement a … uniform capital income tax, or, equivalently, a uniform wealth tax. This system combines elements of an accrual based capital … income tax and a traditional cash flow tax, having many of the attributes of the latter while still imposing a tax burden on …

We show the unique form that must be taken by a tax system based entirely on realization accounting to implement a … uniform capital income tax, or, equivalently, a uniform wealth tax. This system combines elements of an accrual based capital … income tax and a traditional cash flow tax, having many of the attributes of the latter while still imposing a tax burden on …

interventions, such as broad-based tax cuts and spending increases, as well as more targeted policies. While there have been …

spending and government budget flexibility; (3) the composition of tax collections and the desirability of alternative tax … politics suggest that this will reduce the flexibility of budget determinations. An aging population makes certain tax bases …