Open Access. Powered by Scholars. Published by Universities.®
- Discipline
Articles 1 - 15 of 15
Full-Text Articles in Law
Macroeconomic Modeling Of Tax Policy: A Comparison Of Current Methodologies, Itai Grinberg, Alan J. Auerbach, Thomas A. Barthold, Nicholas Bull, W. Gavin Elkins, Pamela J. Moomau, Rachel Moore, Benjamin Page, Brandon Pecoraro, Kyle Pomerleau
Macroeconomic Modeling Of Tax Policy: A Comparison Of Current Methodologies, Itai Grinberg, Alan J. Auerbach, Thomas A. Barthold, Nicholas Bull, W. Gavin Elkins, Pamela J. Moomau, Rachel Moore, Benjamin Page, Brandon Pecoraro, Kyle Pomerleau
Alan J. Auerbach
The macroeconomic effects of tax reform are a subject of significant discussion and controversy. In 2015, the House of Representatives adopted a new “dynamic scoring” rule requiring a point estimate within the budget window of the deficit effect due to the macroeconomic response to certain proposed tax legislation. The revenue estimates provided by the staff of the Joint Committee on Taxation (JCT) for major tax bills often play a critical role in Congressional deliberations and public discussion of those bills. The JCT has long had macroeconomic analytic capability, and in recent years, responding to Congress’ interest in macrodynamic estimates for …
Destination-Based Cash Flow Taxation, Alan J. Auerbach
Destination-Based Cash Flow Taxation, Alan J. Auerbach
Alan J. Auerbach
No abstract provided.
Generational Accounts: A Meaningful Alternative To Deficit Accounting, Alan J. Auerbach, Jagadeesh Gokhale, Laurence J. Kotlikoff
Generational Accounts: A Meaningful Alternative To Deficit Accounting, Alan J. Auerbach, Jagadeesh Gokhale, Laurence J. Kotlikoff
Alan J. Auerbach
This paper presents a set of generational accounts that can be used to assess the fiscal burden current generations are placing on future generations.The generational accounts indicate, in present value, the net amount that current and future generations are projected to pay to the government now and in the future. These accounts can be understood in terms of the government's intertemporal (long-run) budget constraint. This constraint requires that the sum of generational accounts of all current and future generations plus existing government net wealth be sufficient to finance the present value of current and future government consumption. The generational accounting …
The Fiscal Effect Of U.S. Immigration: A Generational-Accounting Perspective, Alan J. Auerbach, Philip Oreopoulos
The Fiscal Effect Of U.S. Immigration: A Generational-Accounting Perspective, Alan J. Auerbach, Philip Oreopoulos
Alan J. Auerbach
Past research traditionally has adopted a static, cross-sectional approach in assessing the net effect of immigrants on the economy's fiscal position. But this approach is inadequate, for it fails to account for the future impact of current immigrants and their offspring. To overcome this shortcoming and avoid misleading conclusions, a dynamic analysis is necessary. The recently developed tool of generational accounting provides an ideal framework for such analysis, for it also permits a comparison of the fiscal effects of immigration policy with those of other policies. This paper amends and then applies the technique of generational accounting to measure the …
Corporate Restructuring: Tax Incentives And Options For Corporate Tax Reform, Alan J. Auerbach
Corporate Restructuring: Tax Incentives And Options For Corporate Tax Reform, Alan J. Auerbach
Alan J. Auerbach
No abstract provided.
Tax Policy And Equipment Leasing After Tefra, Alvin C. Warren Jr, Alan J. Auerbach
Tax Policy And Equipment Leasing After Tefra, Alvin C. Warren Jr, Alan J. Auerbach
Alan J. Auerbach
The Tax Equity and Fiscal Responsibility Act of r982 substantially modified the "safe harbor'' leasing provisions enacted by the Economic Recovery Tax Act of r98r. In this Comment, Professors Warren and Auerbach argue that the modifications did not remedy the defects they identified in an earlier Article and that a new category of "finance leases" may prove to be nearly as valuable for some taxpayers as were safe harbor leases before the r982 changes.
Who Bears The Corporate Tax? A Review Of What We Know, Alan J. Auerbach
Who Bears The Corporate Tax? A Review Of What We Know, Alan J. Auerbach
Alan J. Auerbach
Who bears the corporate income tax? The answer to this question is important to our understanding of the distribution of tax burdens, but it has been elusive. Although the tax accounts for a small share of federal revenues, changes in the corporate income tax and its associated revenues have often been a significant part of revenue legislation. Moreover, because its incidence is often perceived to fall on the affluent, assignment of the corporate tax burden can have a significant impact on the assessed progressivity of the tax system as a whole. This paper reviews what we know from economic theory …
Colloquium On Capital Gains: Commentary, Alan J. Auerbach
Colloquium On Capital Gains: Commentary, Alan J. Auerbach
Alan J. Auerbach
No abstract provided.
Demographics, Fiscal Policy, And U.S. Saving In The 1980s And Beyond, Alan J. Auerbach, Laurence J. Kotlikoff
Demographics, Fiscal Policy, And U.S. Saving In The 1980s And Beyond, Alan J. Auerbach, Laurence J. Kotlikoff
Alan J. Auerbach
No abstract provided.
Why Have Corporate Tax Revenues Declined?, Alan J. Auerbach, James M. Poterba
Why Have Corporate Tax Revenues Declined?, Alan J. Auerbach, James M. Poterba
Alan J. Auerbach
No abstract provided.
Transferability Of Tax Incentives And The Fiction Of Safe Harbor Leasing, Alvin C. Warren Jr, Alan J. Auerbach
Transferability Of Tax Incentives And The Fiction Of Safe Harbor Leasing, Alvin C. Warren Jr, Alan J. Auerbach
Alan J. Auerbach
Safe harbor leasing has been heralded as a method to transfer the benefits of the investment tax credit and accelerated depreciation to firms that pay little or no income tax, and thereby to equalize the ability of taxpaying and nontaxpaying finns to obtain these benefits. Professors Warren and Auerbach argue, however, that although there are a number of ways to define this kind of "competitive neutrality," the fictional leases required by current law implement none of those definitions. In addition, they argue that the fiction of leasing has undesirable collateral consequences that need not accompany a program of transferability of …
Understanding U.S. Corporate Tax Losses, Rosanne Altshuler, Alan J. Auerbach, Michael Cooper, Matthew Knittel
Understanding U.S. Corporate Tax Losses, Rosanne Altshuler, Alan J. Auerbach, Michael Cooper, Matthew Knittel
Alan J. Auerbach
Recent data on corporate tax losses present a puzzle this paper attempts to explain: the ratio of losses to positive income was much higher around the recession of 2001 than in earlier recessions, even those of greater severity. Using a comprehensive sample of U.S. corporation tax returns for the period 1982-2005, we explore a variety of potential explanations for this surge in tax losses, taking account of the significant use of executive compensation stock options beginning in the 1990s and recent temporary tax provisions that might have had important effects on taxable income. We find that losses rose because the …
Social Security And Medicare Policy From The Perspective Of Generational Accounting, Alan J. Auerbach, Jagadeesh Gokhale, Laurence J. Kotlikoff
Social Security And Medicare Policy From The Perspective Of Generational Accounting, Alan J. Auerbach, Jagadeesh Gokhale, Laurence J. Kotlikoff
Alan J. Auerbach
Our previous studies (Auerbach, Gokhale, and Kotlikof£, 1991 and 1992) and Kotlikoff (1992) introduced the concept of "generational accounting," a method of determining how the burden of fiscal policy falls on different generations. It found that fiscal policy in the United States is out of balance, in terms of projected generational burdens. This means that either current generations will bear a larger share (than we project under current law) of the burden of the government's spending or that future generations will have to pay, on average, at least 21 percent more, on a growth-adjusted basis, than will those generations who …
Notes On Taxation And Risk Taking, Alan J. Auerbach
Notes On Taxation And Risk Taking, Alan J. Auerbach
Alan J. Auerbach
In recent years, the literature on taxation and risk taking has focused on the argument that the distortions and incidence of capital income taxes are associated with the tax on the risk-free rate of return, and that the taxation of excess returns to risk taking may be of less economic consequence that had been thought. I review this argument and its underlying assumptions in detail and discuss the implications of different violations of the assumptions in the context of a variety of recent tax policy issues where the impact of taxation on risk and risk taking is of central importance …
The New Economics Of Accelerated Depreciation, Alan J. Auerbach
The New Economics Of Accelerated Depreciation, Alan J. Auerbach
Alan J. Auerbach
No abstract provided.