Download or read book Taxes Have Consequences written by Arthur B. Laffer and published by Post Hill Press. This book was released on 2022-10-18 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: The definitive history of the effect of the income tax on the economy. Ever since 1913, when the United States first imposed the income tax via constitutional amendment, the top rate of that tax has determined the fate of the American economy. When the top rate has been high, as in the late 1910s, the 1930s, 1940s, 1950s, and 1970s, the response of those with money and capital has been to curtail real economic activity in favor of protecting assets and income streams. Huge declines have come to the economy in these circumstances. The most brutal example was the Great Depression itself. When the top tax rate has been cut and held at reduced levels—as in the 1920s, the 1960s, in the long boom of the 1980s and 1990s, and briefly in the late 2010s—astonishing reversals have occurred. The rich have brought their money out of hiding and put it to work in the economy. The huge swings in the American economy since 1913 have had an inverse relationship to income tax rates.
Download or read book Summary of Arthur B Laffer s Taxes Have Consequences written by Everest Media, and published by Everest Media LLC. This book was released on 2022-10-10T22:59:00Z with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: Please note: This is a companion version & not the original book. Sample Book Insights: #1 Income taxes are a cost that reduces the amount of money suppliers receive for selling a product. This necessarily makes supply go down. A tax lowers a buyer’s interest in buying, and the squeeze on profit margins from a tax makes producers sour on their own enterprises. #2 The US income tax is an effective wealth tax that reduces supply and makes people lose interest in their own companies. It is a cost that reduces the amount of money suppliers receive for selling a product, and this necessarily makes supply go down. #3 The focus on the top rate of the income tax and those subject to it, the richest people, is because these people are especially determined to avoid paying that top rate. #4 The Sixteenth Amendment to the Constitution ratified in 1913, with its provision that Congress shall have power to lay and collect taxes on incomes, from whatever source derived, established the modern US income tax.
Download or read book Unintended Consequences written by Edward Conard and published by Penguin. This book was released on 2013-04-30 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: Was our country’s economic success before the Crash of ‘08 built on false pretenses? Did we simply borrow and spend too much, or was something else really going on? The conventional wisdom now accuses Wall Street and the mortgage industry of using predatory tactics to seduce homeowners. Meanwhile, average Americans are blamed for increasing consumption to unsustainable levels by borrowing recklessly. And the tax policies of the Reagan and Bush administrations are blamed for encouraging reckless risk-taking. Edward Conard disagrees. In an attempt to set the record straight he presents a fascinating new case for how the economy really works, why the U.S. has outperformed other countries, what caused the financial crisis, and what improvements might better protect our economy without damaging growth.
Download or read book An Inquiry into the Nature and Causes of the Wealth of States written by Arthur Laffer and published by John Wiley & Sons. This book was released on 2014-03-31 with total page 373 pages. Available in PDF, EPUB and Kindle. Book excerpt: A passionate, detailed, quantified argument for state-level tax reform An Inquiry into the Nature and Causes of the Wealth of States explains why eliminating or lowering tax burdens at the state level leads to economic growth and wealth creation. A passionate argument for tax reform, the book shows that even states with small populations can benefit enormously with the right policies. The authors’ detailed exposition evaluates the impact state and local government policies have on a state’s relative performance and economic growth overall, backed up with economic data and analysis. Facts don’t lie. But they do point clearly to the failure of so-called progressive tax schemes designed more to curry favor with selected constituencies than to create an economic system that leads to individual wealth as the reward for hard work and entrepreneurial risk taking. An Inquiry into the Nature and Causes of the Wealth of States is a detailed and critical look at income taxation across the nation, and drills down into an analysis of the economic growth or malaise that results from tax policy. Arguing eloquently that a state cannot tax itself into prosperity, just as the impoverished cannot spend themselves into wealth, the authors point out what many inherently know but often fear to say out loud. The book provides detailed quantitative analysis, and discusses the policy variables that can have enormous effects on the financial well-being of states and individual residents, such as: Personal and corporate income tax rates Total tax burden as a percentage of personal income Estate and inheritance taxes Right-to-work laws An Inquiry into the Nature and Causes of the Wealth of States shows everyone how to evaluate state-level fiscal and economic policies to become more competitive.
Download or read book Erosion of the Property Tax Base written by Nancy Y. Augustine and published by . This book was released on 2009 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: Increased reliance on residential property to generate tax revenue and soaring property values in many parts of the country have placed pressure on local officials to respond to concerns about higher property taxes. The result has been erosion of the property tax base through a variety of policies designed to relieve residential property tax burdens through exemptions or abatements. The chapters in this book provide analyses of recent property tax trends, examine several responses to the increasing importance of residential property, estimate the extent of property tax base erosion and its effects, and consider other related topics. The erosion of the property tax base raises serious concerns about the future health of our federal system of government and the continued ability of local governments to protect what de Tocqueville called America's passion for popular sovereignty. This book is a result of the ongoing collaboration between the Lincoln Institute of Land Policy and the George Washington Institute of Public Policy presents the findings from the 2007 inaugural Property Tax Roundtable.
Download or read book Does Atlas Shrug written by Joel Slemrod and published by Harvard University Press. This book was released on 2000 with total page 540 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the introduction of the income tax in 1913, controversy has raged about how heavily to tax the rich. Opponents of high tax rates claim that heavy assessments have negative incentives on the productivity of some of our most talented citizens; supporters stress the importance of the rich shouldering their "fair share," and decry the loopholes that permit many to escape their obligations. Notably absent from this debate is hard evidence about the actual impact of taxes on the behavior of the affluent. This book presents evidence by leading economists of the effects of taxes on the formation of businesses, the supply of labor, the form of executive compensation, the accumulation of wealth, the allocation of portfolios, and the realization of capital gains. Among its findings are that the labor supply of the rich remained unchanged in the face of large tax cuts in 1986, and that in late 1992 executives exercised billions of dollars' worth of stock options in order to beat the tax increases expected in 1993. The book also presents a history of efforts to tax the rich, a demographic snapshot of the financially affluent, and a road map to widely used tax-avoidance strategies. Does Atlas Shrug? will be of great interest to policymakers and interested citizens who want to know how much tax revenue could really be gained by increasing tax rates on the rich, or whether low capital gains tax rates really spur economic growth.
Download or read book The Triumph of Injustice How the Rich Dodge Taxes and How to Make Them Pay written by Emmanuel Saez and published by W. W. Norton & Company. This book was released on 2019-10-15 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: America’s runaway inequality has an engine: our unjust tax system. Even as they became fabulously wealthy, the ultra-rich have had their taxes collapse to levels last seen in the 1920s. Meanwhile, working-class Americans have been asked to pay more. The Triumph of Injustice presents a forensic investigation into this dramatic transformation, written by two economists who revolutionized the study of inequality. Eschewing anecdotes and case studies, Emmanuel Saez and Gabriel Zucman offer a comprehensive view of America’s tax system, based on new statistics covering all taxes paid at all levels of government. Their conclusion? For the first time in more than a century, billionaires now pay lower tax rates than their secretaries. Blending history and cutting-edge economic analysis, and writing in lively and jargon-free prose, Saez and Zucman dissect the deliberate choices (and sins of indecision) that have brought us to today: the gradual exemption of capital owners; the surge of a new tax avoidance industry, and the spiral of tax competition among nations. With clarity and concision, they explain how America turned away from the most progressive tax system in history to embrace policies that only serve to compound the wealth of a few. But The Triumph of Injustice is much more than a laser-sharp analysis of one of the great political and intellectual failures of our time. Saez and Zucman propose a visionary, democratic, and practical reinvention of taxes, outlining reforms that can allow tax justice to triumph in today’s globalized world and democracy to prevail over concentrated wealth. A pioneering companion website allows anyone to evaluate proposals made by the authors, and to develop their own alternative tax reform at taxjusticenow.org.
Download or read book The Causes and Consequences of Income Tax Noncompliance written by Jeffrey A. Dubin and published by Springer Science & Business Media. This book was released on 2011-12-02 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: Taxpayer compliance is a voluntary activity, and the degree to which the tax system works is affected by taxpayers’ knowledge that it is their moral and legal responsibility to pay their taxes. Taxpayers also recognize that they face a lottery in which not all taxpayer noncompliance will ever be detected. In the United States most individuals comply with the tax law, yet the tax gap has grown significantly over time for individual taxpayers. The US Internal Revenue Service attempts to ensure that the minority of taxpayers who are noncompliant pay their fair share with a variety of enforcement tools and penalties. The Causes and Consequences of Income Tax Noncompliance provides a comprehensive summary of the empirical evidence concerning taxpayer noncompliance and presents innovative research with new results on the role of IRS audit and enforcements activities on compliance with federal and state income tax collection. Other issues examined include to what degree taxpayers respond to the threat of civil and criminal enforcement and the important role of the media on taxpayer compliance. This book offers researchers, students, and tax administrators insight into the allocation of taxpayer compliance enforcement and service resources, and suggests policies that will prevent further increases in the tax gap. The book’s aggregate data analysis methods have practical applications not only to taxpayer compliance but also to other forms of economic behavior, such as welfare fraud.
Download or read book Examination of Returns Appeal Rights and Claims for Refund written by United States. Internal Revenue Service and published by . This book was released on 1980 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Taxing the Rich written by Kenneth Scheve and published by Princeton University Press. This book was released on 2017-11-07 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: A groundbreaking history of why governments do—and don't—tax the rich In today's social climate of acknowledged and growing inequality, why are there not greater efforts to tax the rich? In this wide-ranging and provocative book, Kenneth Scheve and David Stasavage ask when and why countries tax their wealthiest citizens—and their answers may surprise you. Taxing the Rich draws on unparalleled evidence from twenty countries over the last two centuries to provide the broadest and most in-depth history of progressive taxation available. Scheve and Stasavage explore the intellectual and political debates surrounding the taxation of the wealthy while also providing the most detailed examination to date of when taxes have been levied against the rich and when they haven't. Fairness in debates about taxing the rich has depended on different views of what it means to treat people as equals and whether taxing the rich advances or undermines this norm. Scheve and Stasavage argue that governments don't tax the rich just because inequality is high or rising—they do it when people believe that such taxes compensate for the state unfairly privileging the wealthy. Progressive taxation saw its heyday in the twentieth century, when compensatory arguments for taxing the rich focused on unequal sacrifice in mass warfare. Today, as technology gives rise to wars of more limited mobilization, such arguments are no longer persuasive. Taxing the Rich shows how the future of tax reform will depend on whether political and economic conditions allow for new compensatory arguments to be made.
Download or read book Fuel Taxes and the Poor written by Thomas Sterner and published by Taylor & Francis. This book was released on 2012-03-29 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fuel Taxes and the Poor challenges the conventional wisdom that gasoline taxation, an important and much-debated instrument of climate policy, has a disproportionately detrimental effect on poor people. Increased fuel taxes carry the potential to mitigate carbon emissions, reduce congestion, and improve local urban environment. As such, higher gasoline taxes could prove to be a fundamental part of any climate action plan. However, they have been resisted by powerful lobbies that have persuaded people that increased fuel taxation would be regressive. Reporting on examples of over two dozen countries, this book sets out to empirically investigate this claim. The authors conclude that while there may be some slight regressivity in some high-income countries, as a general rule, fuel taxation is a progressive policy particularly in low income countries. Rich countries can correct for regressivity by cutting back on other taxes that adversely affect poor people, or by spending more money on services for the poor. Meanwhile, in low-income countries, poor people spend a very small share of their money on fuel for transport. Some costs from fuel taxes may be passed on to poor people through more expensive public transportation and food transport. Nevertheless, in general the authors find that gasoline taxes become more progressive as the income of the country in question decreases. This book provides strong arguments for the proponents of environmental taxation. It has immediate policy implications at the intersection of multiple subject areas, including transportation, environmental regulation, development studies, and climate change. Published with Environment for Development initiative.
Download or read book Taxes Have Consequences written by Arthur B. Laffer and published by Simon and Schuster. This book was released on 2022-09-27 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: The definitive history of the effect of the income tax on the economy. Ever since 1913, when the United States first imposed the income tax via constitutional amendment, the top rate of that tax has determined the fate of the American economy. When the top rate has been high, as in the late 1910s, the 1930s, 1940s, 1950s, and 1970s, the response of those with money and capital has been to curtail real economic activity in favor of protecting assets and income streams. Huge declines have come to the economy in these circumstances. The most brutal example was the Great Depression itself. When the top tax rate has been cut and held at reduced levels—as in the 1920s, the 1960s, in the long boom of the 1980s and 1990s, and briefly in the late 2010s—astonishing reversals have occurred. The rich have brought their money out of hiding and put it to work in the economy. The huge swings in the American economy since 1913 have had an inverse relationship to income tax rates.
Download or read book Federal Taxation of Wealth Transfers written by Stephanie J. Willbanks and published by Aspen Publishing. This book was released on 2024-02-01 with total page 772 pages. Available in PDF, EPUB and Kindle. Book excerpt: With an emphasis on tax planning, Federal Taxation of Wealth Transfers: Cases and Problems integrates stimulating problems with statutes, regulations, and cases to create a highly teachable and student-friendly casebook. This casebook emphasizes problem solving, statutory construction, and policy-analysis skills, and is ideal for 2- or 3-credit courses in estate and gift taxation. The text has been expanded to feature new cases, administrative rulings, and studies. Existing cases and text have been edited or deleted to highlight essential themes. The casebook is logically organized but its flexible organization accommodates reorganizing material to fit individual course structures, and could be used for a basic wealth transfer tax class or to complement an estate planning course. New to the 5th Edition: Alyssa A. DiRusso joins as a co-author, bringing her background in high-net-worth practice and in-house fiduciary administration to broaden the book’s perspective. A new introduction to gratuitous transfers in Chapter 1. More detailed analysis of defined value clauses in Chapter 3. A new section on taxation of nonprofit organizations in Chapter 14. New cases throughout the book. Updated values and computations. Professors and students will benefit from: Organization – the book is organized by the three different transfer taxes and by IRC section. Flexibility – the text, cases, and problems allow a focus on statutory construction, planning, or policy. Focus on basics – the book is adaptable to a two- or three-credit transfer tax course, to supplement an estate planning course, or for an LLM course. Detailed textual explanations with references to current cases and administrative rulings—but they also provide historical context and development. Problems that focus on discrete issues to build a solid foundation. Edited cases that focus on fundamentals.
Download or read book Tax Withholding and Estimated Tax written by and published by . This book was released on 1995 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book War and Taxes written by Steven A. Bank and published by The Urban Insitute. This book was released on 2008 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction: This book explores the long history of American taxation during times of war. As political scientist David Mayhew recently observed, since it's founding in 1789, the United States has conducted hot wars for some 38 years, occupied the South militarily for a decade, waged the Cold War for several decades, and staged countless smaller actions against Indian tribes or foreign powers. The cost of these activities has been immense, with important and lasting consequences for the tax system, the economy, and the nation's political structure. By focusing on tax legislation, we hope to identify some of these consequences. But we are not interested in simply recounting statutory details. Rather, we hope to illuminate the politics of war taxation, with a special focus on the influence of arguments concerning "shaped sacrifice" in shaping wartime tax policy. Moreover, we aim to shed light on a less examined aspect of this history by offering a detailed account of wartime opposition to increased taxes.
Download or read book The U S Income Tax written by Michael J. Graetz and published by . This book was released on 1999 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The book locates the answers in both the substance of the Internal Revenue Code and the political process that created and feeds this monstrous law. Graetz shows plainly how the income tax is used for political ends; how government has allowed its complexities to grow with no thought of their consequences; and how PAC funds and special interests have affected Congress's will to reform the system. He then looks closely at popular proposals for reform and shows why they are not as fair or as simple as their advocates claim. Pointing the way to tax reforms that really are simple, sensible, and fair, The U.S. Income Tax is a book for everyone concerned with where our tax dollars go and what we get for them."--Jacket.
Download or read book Estimates of Federal Tax Expenditures written by United States. Department of the Treasury and published by . This book was released on 1975 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt:
