The present study has two aims: to present our General Theory of Social and Tax Expenditures; and to apply this to the French tax system. After highlighting how the evaluation and management of tax loopholes has failed in France and the rest of the developed world, the first section discusses...

I analyze the effects of profit taxation on the financing decision of corporate acquisitions. The deductibility of interest expenses from the corporate tax base creates an incentive for acquiring companies to finance a takeover with debt. Regarding the particular decision how to finance the...