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Evidence from daily market data is consistent with the view that the implicit tax rate on 5-year municipal bonds was affected by the chance of a flat tax becoming law, as proxied by the price of Steve Forbes' shares on the Iowa Electronic Market for political candidates; the spread was also...
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since the early 1990s. Higher government spending, taxes that did not keep pace with expenditures, and severe recession led …, have not restored Colombia to fiscal balance. A Colombian government commission charged with researching more long-term tax …
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