While corporate tax rates in OECD countries declined over the last decades, revenues from corporate taxation relative to gross domestic product (GDP) remained remarkably stable. This paper uses a comprehensive firm-level data set to analyze this rate-revenue puzzle in corporate taxation. Focusing on the period 1995–2016, we show that the reduction in corporate tax rates was counterbalanced by a pronounced increase in corporate profits. We decompose the rise in profits into changes in earnings before interest and depreciation, depreciation, and financial profits. On average, these factors contributed almost equally to the tax-base expansion, albeit differently across sectors, countries, and firm sizes.
{"title":"Why Is Corporate Tax Revenue Stable While Tax Rates Fall? Evidence from Firm-Level Data","authors":"C. Fuest, F. Hugger, Susanne Wildgruber","doi":"10.1086/720704","DOIUrl":"https://doi.org/10.1086/720704","url":null,"abstract":"While corporate tax rates in OECD countries declined over the last decades, revenues from corporate taxation relative to gross domestic product (GDP) remained remarkably stable. This paper uses a comprehensive firm-level data set to analyze this rate-revenue puzzle in corporate taxation. Focusing on the period 1995–2016, we show that the reduction in corporate tax rates was counterbalanced by a pronounced increase in corporate profits. We decompose the rise in profits into changes in earnings before interest and depreciation, depreciation, and financial profits. On average, these factors contributed almost equally to the tax-base expansion, albeit differently across sectors, countries, and firm sizes.","PeriodicalId":18983,"journal":{"name":"National Tax Journal","volume":"75 1","pages":"481 - 515"},"PeriodicalIF":1.7,"publicationDate":"2022-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48814927","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The Finnish basic income experiment was an ambitious effort to study basic income in a Nordic welfare state. This paper describes the planning, implementation, and scientific evaluation of the experiment. The randomized treatment group was paid a guaranteed monthly income, which had no impact on disposable income while a person was unemployed but provided a substantial increase in work incentives. We extend previous evaluations by examining the heterogeneity of incentive changes and employment responses across households. Our results reveal improvements in employment only for couples with children, providing an interesting contrast to other in-work credit programs.
{"title":"Design and Evaluation of the Finnish Basic Income Experiment","authors":"Kari Hämäläinen, J. Verho","doi":"10.1086/720737","DOIUrl":"https://doi.org/10.1086/720737","url":null,"abstract":"The Finnish basic income experiment was an ambitious effort to study basic income in a Nordic welfare state. This paper describes the planning, implementation, and scientific evaluation of the experiment. The randomized treatment group was paid a guaranteed monthly income, which had no impact on disposable income while a person was unemployed but provided a substantial increase in work incentives. We extend previous evaluations by examining the heterogeneity of incentive changes and employment responses across households. Our results reveal improvements in employment only for couples with children, providing an interesting contrast to other in-work credit programs.","PeriodicalId":18983,"journal":{"name":"National Tax Journal","volume":"75 1","pages":"573 - 596"},"PeriodicalIF":1.7,"publicationDate":"2022-07-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47238428","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
B. Jacob, Natasha V. Pilkauskas, Elizabeth Rhodes, Katherine Richard, H. L. Shaefer
This paper reports findings from a randomized controlled trial of a one-time, $1,000 unconditional cash transfer to low-income households in October 2020. We use a combination of administrative and survey data collected six weeks posttreatment to examine four preregistered hypotheses: impacts on material hardship and mental health in the full study sample as well as among a very low-income sample. We find no effects of the cash transfer on any of the prespecified or other exploratory outcomes. We explore various explanations for these null results and discuss implications for future research on unconditional cash transfer programs.
{"title":"The COVID-19 Cash Transfer Study II: The Hardship and Mental Health Impacts of an Unconditional Cash Transfer to Low-Income Individuals","authors":"B. Jacob, Natasha V. Pilkauskas, Elizabeth Rhodes, Katherine Richard, H. L. Shaefer","doi":"10.1086/720723","DOIUrl":"https://doi.org/10.1086/720723","url":null,"abstract":"This paper reports findings from a randomized controlled trial of a one-time, $1,000 unconditional cash transfer to low-income households in October 2020. We use a combination of administrative and survey data collected six weeks posttreatment to examine four preregistered hypotheses: impacts on material hardship and mental health in the full study sample as well as among a very low-income sample. We find no effects of the cash transfer on any of the prespecified or other exploratory outcomes. We explore various explanations for these null results and discuss implications for future research on unconditional cash transfer programs.","PeriodicalId":18983,"journal":{"name":"National Tax Journal","volume":"75 1","pages":"597 - 625"},"PeriodicalIF":1.7,"publicationDate":"2022-07-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42990287","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In the aftermath of Edward Kleinbard’s untimely death, this article reviews his rich and diverse scholarship, asking what distinctive features helped to make it both so urgent and so valuable.
{"title":"High Noon In the Tax Policy Corral: Edward Kleinbard’s Race Against Time","authors":"Joseph Bankman, Daniel N. Shaviro","doi":"10.1086/719024","DOIUrl":"https://doi.org/10.1086/719024","url":null,"abstract":"In the aftermath of Edward Kleinbard’s untimely death, this article reviews his rich and diverse scholarship, asking what distinctive features helped to make it both so urgent and so valuable.","PeriodicalId":18983,"journal":{"name":"National Tax Journal","volume":"75 1","pages":"375 - 394"},"PeriodicalIF":1.7,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45458058","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The Daniel M. Holland Medal was created in 1993 in the memory of Dan Holland, a professor of economics at the Massachusetts Institute of Technology Sloan School of Management, who was an internationally recognized researcher, teacher, and practitioner in public finance. Holland wrote several books and numerous articles on a wide range of topics in taxation, including issues related to business taxes, property and land taxes, dividend taxation, pension funds, tax evasion, and the integration of business and personal income taxes; he also served as a consultant to the US Department of the Treasury, foreign governments, and private companies. He was a leading figure in the National Tax Association (NTA) for many years, serving as president in 1988–1989 and as editor of the National Tax Journal for 25 years from 1966 to 1991. The Holland Medal, which is the most prestigious award given by the NTA, recognizes lifetime achievement in the study of the theory and practice of public finance. The recipient of the 2021 Daniel M. Holland Medal is:
{"title":"Award Announcements","authors":"D. Holland, Rosanne Altshuler, Roy W. Bahl","doi":"10.1086/719432","DOIUrl":"https://doi.org/10.1086/719432","url":null,"abstract":"The Daniel M. Holland Medal was created in 1993 in the memory of Dan Holland, a professor of economics at the Massachusetts Institute of Technology Sloan School of Management, who was an internationally recognized researcher, teacher, and practitioner in public finance. Holland wrote several books and numerous articles on a wide range of topics in taxation, including issues related to business taxes, property and land taxes, dividend taxation, pension funds, tax evasion, and the integration of business and personal income taxes; he also served as a consultant to the US Department of the Treasury, foreign governments, and private companies. He was a leading figure in the National Tax Association (NTA) for many years, serving as president in 1988–1989 and as editor of the National Tax Journal for 25 years from 1966 to 1991. The Holland Medal, which is the most prestigious award given by the NTA, recognizes lifetime achievement in the study of the theory and practice of public finance. The recipient of the 2021 Daniel M. Holland Medal is:","PeriodicalId":18983,"journal":{"name":"National Tax Journal","volume":"75 1","pages":"437 - 444"},"PeriodicalIF":1.7,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46378284","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
O. Bargain, Damien Échevin, Audrey Etienne, Nicolas Moreau, Adrien Pacifico
This paper examines the tax returns of French cohabiting couples with children. These couples form two separate tax units and must optimally assign their children to the tax unit of one of the parents to optimize tax rebates. We find that children are allocated in a way that minimizes tax liability in 75 percent of cohabiting households. The 25 percent of households that fail to minimize their liability appear to use heuristics, are influenced by inertia, and possibly fail to fully cooperate as suboptimal couples tend to separate more and marry less in the subsequent period.
{"title":"Tax Minimization by French Cohabiting Couples","authors":"O. Bargain, Damien Échevin, Audrey Etienne, Nicolas Moreau, Adrien Pacifico","doi":"10.1086/719427","DOIUrl":"https://doi.org/10.1086/719427","url":null,"abstract":"This paper examines the tax returns of French cohabiting couples with children. These couples form two separate tax units and must optimally assign their children to the tax unit of one of the parents to optimize tax rebates. We find that children are allocated in a way that minimizes tax liability in 75 percent of cohabiting households. The 25 percent of households that fail to minimize their liability appear to use heuristics, are influenced by inertia, and possibly fail to fully cooperate as suboptimal couples tend to separate more and marry less in the subsequent period.","PeriodicalId":18983,"journal":{"name":"National Tax Journal","volume":"75 1","pages":"265 - 296"},"PeriodicalIF":1.7,"publicationDate":"2022-05-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45350796","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper summarizes the late Ed Kleinbard’s scholarship on international taxation and argues that he had a significant impact on both the Tax Cuts and Jobs Act and on current tax reform proposals.
{"title":"Stateless Income And Beyond: Ed Kleinbard’s Contribution To International Tax Policy","authors":"R. Avi-Yonah","doi":"10.1086/719053","DOIUrl":"https://doi.org/10.1086/719053","url":null,"abstract":"This paper summarizes the late Ed Kleinbard’s scholarship on international taxation and argues that he had a significant impact on both the Tax Cuts and Jobs Act and on current tax reform proposals.","PeriodicalId":18983,"journal":{"name":"National Tax Journal","volume":"75 1","pages":"425 - 435"},"PeriodicalIF":1.7,"publicationDate":"2022-04-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46881964","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Celeste K. Carruthers, W. Fox, Lawrence M. Kessler, Matthew N. Murray
From 2012 to 2014, Amazon sent three emails to Tennessee purchasers with information about their potential use tax obligations and how to pay them. The messages did not threaten enforcement, but they included information that likely raised awareness and lowered the cost of compliance. Following each email, the volume of consumer use tax filings briefly increased by a factor of 3–5, but the value of new payments was too small to register a significant difference in total collections. Business tax payments were not exceptional in the months following each email.
{"title":"Tax Compliance in the Amazon","authors":"Celeste K. Carruthers, W. Fox, Lawrence M. Kessler, Matthew N. Murray","doi":"10.1086/719199","DOIUrl":"https://doi.org/10.1086/719199","url":null,"abstract":"From 2012 to 2014, Amazon sent three emails to Tennessee purchasers with information about their potential use tax obligations and how to pay them. The messages did not threaten enforcement, but they included information that likely raised awareness and lowered the cost of compliance. Following each email, the volume of consumer use tax filings briefly increased by a factor of 3–5, but the value of new payments was too small to register a significant difference in total collections. Business tax payments were not exceptional in the months following each email.","PeriodicalId":18983,"journal":{"name":"National Tax Journal","volume":"75 1","pages":"297 - 311"},"PeriodicalIF":1.7,"publicationDate":"2022-04-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42894539","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Ed Kleinbard’s Business Enterprise Income Tax (BEIT) would eliminate many of the distortions in current US taxation of investment income, including choices between debt and equity finance and among dividends, stock buybacks, and retained earnings; business choices among alternative assets and between investing in the United States and overseas; decisions on exchanging asset ownership; and choices among how firms are organized. But, similar with other proposed reforms, BEIT is less effective in taxing economic rents earned by the wealthiest individuals. BEIT fits with Kleinbard’s overall view that average citizens would benefit from a larger government funded by moderately progressive taxes.
Ed Kleinbard的企业所得税（BEIT）将消除目前美国对投资收入征税的许多扭曲，包括在债务和股权融资之间以及在股息、股票回购和留存收益之间的选择；在另类资产之间以及在美国和海外投资之间的商业选择；关于交换资产所有权的决定；以及公司组织方式的选择。但是，与其他拟议的改革类似，BEIT在对最富有的个人赚取的经济租金征税方面效果较差。BEIT符合Kleinbard的总体观点，即普通公民将从由适度累进税资助的更大政府中受益。
{"title":"Ed Kleinbard’s Business Enterprise Income Tax: How Well Does It Solve the Problem of How to Tax Capital Income?","authors":"E. Toder","doi":"10.1086/719373","DOIUrl":"https://doi.org/10.1086/719373","url":null,"abstract":"Ed Kleinbard’s Business Enterprise Income Tax (BEIT) would eliminate many of the distortions in current US taxation of investment income, including choices between debt and equity finance and among dividends, stock buybacks, and retained earnings; business choices among alternative assets and between investing in the United States and overseas; decisions on exchanging asset ownership; and choices among how firms are organized. But, similar with other proposed reforms, BEIT is less effective in taxing economic rents earned by the wealthiest individuals. BEIT fits with Kleinbard’s overall view that average citizens would benefit from a larger government funded by moderately progressive taxes.","PeriodicalId":18983,"journal":{"name":"National Tax Journal","volume":"75 1","pages":"395 - 423"},"PeriodicalIF":1.7,"publicationDate":"2022-04-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43147440","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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