Download or read book Taxation and the Deficit Economy written by Dwight R. Lee and published by Pacific Studies in Public Poli. This book was released on 1986 with total page 586 pages. Available in PDF, EPUB and Kindle. Book excerpt: This texts contains essays written by economists who review the effects of past government actions & reforms needed to avoid long term economic stagnation. Topics discussed include social security, the military industrial complex, & private vs. political entrpreneurship. Generally, the topics include such topics as the economic effects of taxation, spending, deficits, & other forms of hidden taxation, & taxation & individual rights.

Download or read book Tax Smoothing in a Financially Repressed Economy written by Mr.Paul Cashin and published by International Monetary Fund. This book was released on 1998-08-01 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: India has a long history of running fiscal deficits. Two broad considerations motivate a government to run a deficit: tax smoothing and tax tilting. This paper tests a version of Barro’s tax-smoothing model, using Indian data for the period 1951-52 to 1996-97. The empirical results indicate that the central government of India has tax-smoothed, while the regional governments of India have not. The paper also finds evidence of tax tilting, reflected in financial repression, which has led to the accumulation of excessive public liabilities.

Download or read book The Economy in Deficit written by Phillip Cagan and published by Washington, D.C. : American Enterprise Institute. This book was released on 1985 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Deficit Politics in the United States written by DENNIS S. IPPOLITO and published by Routledge. This book was released on 2022-02-23 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the clashes between Federalists and Republicans in the 1790s until today, partisan battles over taxing, spending, and public debt have shaped American political development. These battles were formerly constrained by fiscal norms that mandated balanced budgets and low debt. In his Farewell Address, President George Washington counseled the nation to cherish public credit by using it as sparingly as possible. In the 1980s, however, tax cuts and spending increases created large structural deficits and much higher debt levels. With only a brief interruption in the late 1990s, deficit politics has been a mainstay ever since. Over this period, the Republican Party has passed large tax cuts but failed to retrench the large entitlement programs that continue to raise spending. Likewise, the Democratic Party has expanded the domestic role of government but has abandoned the broad-based taxation it supported in the 1990s. Funding their domestic agenda with matching revenues is now as unappealing for Democrats as entitlement cutbacks are for Republicans, contributing to the current stalemate of Republican tax policy, Democratic spending policy, and soaring deficits and debt. The economic risks this entails are serious, yet an end to the era of deficit politics is nowhere in sight.

Download or read book Contemporary Economic Problems written by Phillip Cagan and published by A E I Press. This book was released on 1987 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of essays provides background information on U.S. economic policy and reviews the effects of the Reagan economic program. Jacob Dreyer, Gottfried Haberler, and Kenneth Brown believe that budget deficit creates the trade deficit, as foreigners export to the U.S. to acquire dollars for the capital flow that finances U.S. debt. Phillip Cagan finds that the recent disinflation is the result of restrained economic growth amid ample productive capacity. Other contributors review the incentive improvements from the Tax Reform Act of 1986; the dramatic redistribution of fiscal responsibility to state and local government; and the emphasis on the elderly and poor. ISBN 0-8447-3621-X : $27.50.

Download or read book Deficit Politics in the United States written by Dennis S Ippolito and published by Routledge. This book was released on 2022-02-22 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the clashes between Federalists and Republicans in the 1790s until today, partisan battles over taxing, spending, and public debt have shaped American political development. These battles were formerly constrained by fiscal norms that mandated balanced budgets and low debt. In his Farewell Address, President George Washington counseled the nation to "cherish public credit" by using "it as sparingly as possible". In the 1980s, however, tax cuts and spending increases created large structural deficits and much higher debt levels. With only a brief interruption in the late 1990s, deficit politics has been a mainstay ever since. Over this period, the Republican Party has passed large tax cuts but failed to retrench the large entitlement programs that continue to raise spending. Likewise, the Democratic Party has expanded the domestic role of government but has abandoned the broad-based taxation it supported in the 1990s. Funding their domestic agenda with matching revenues is now as unappealing for Democrats as entitlement cutbacks are for Republicans, contributing to the current stalemate of Republican tax policy, Democratic spending policy, and soaring deficits and debt. The economic risks this entails are serious, yet an end to the era of deficit politics is nowhere in sight.

Download or read book Taxation in Centrally Planned Economies written by P.T. Wanless and published by Routledge. This book was released on 2018-06-28 with total page 175 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists studying comparative economic systems have generally neglected the important question of taxation in socialist countries. This is somewhat surprising since taxation plays an important role in the regulation of economic activity in these countries. This book, first published in 1985, aims to restore the study of taxation to its rightful role in comparative economic studies. It stresses the importance of taxation and the state budget and argues that these are tools of economic policy which complement central economic planning.

Download or read book Taxation and economic performance written by and published by Hoover Press. This book was released on with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past two centuries, economists have debated whether or not higher rates of taxation lead to increased levels of government revenues. In the eighteenth century, Adam Smith pointed to a reduced level of revenues from substantially higher tariffs and duties on traded goods. In the twentieth century, the Laffer Curve postulated that there would be no government revenue at a taxation level of 100 percent or 0 percent. More recently, the debate focused on the tax increases of 1990 and 1993, which were designed to reduce the federal budget deficit through an increase in government revenues. In fact, the forecasted revenue generation following each tax increase fell short of the mark. Increases in tax rates have not raised the desired additional revenues, but they have dampened economic activity. Higher tax rates tend to reduce the tax base as taxpayers have disincentives to work, produce, save, or invest. There are, however, incentives to hide, shelter, and underreport income as tax rates are raised. Thus, the economy as a whole tends to perform less well following a tax increase. Conversely, the economy tends to perform more favorably following a reduction in tax rates. In the postwar period, government revenues as a percentage of gross domestic product have averaged 19.5 percent despite marginal income tax rates as high as 92 percent and as low as 28 percent. Despite the historic record, policy makers continue to embrace the notion that an increase in marginal tax rates will raise revenues without any attendant adverse effects on economic growth, job creation, or standard of living.

Download or read book The Deficit Myth written by Stephanie Kelton and published by PublicAffairs. This book was released on 2020-06-09 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: A New York Times Bestseller The leading thinker and most visible public advocate of modern monetary theory -- the freshest and most important idea about economics in decades -- delivers a radically different, bold, new understanding for how to build a just and prosperous society. Stephanie Kelton's brilliant exploration of modern monetary theory (MMT) dramatically changes our understanding of how we can best deal with crucial issues ranging from poverty and inequality to creating jobs, expanding health care coverage, climate change, and building resilient infrastructure. Any ambitious proposal, however, inevitably runs into the buzz saw of how to find the money to pay for it, rooted in myths about deficits that are hobbling us as a country. Kelton busts through the myths that prevent us from taking action: that the federal government should budget like a household, that deficits will harm the next generation, crowd out private investment, and undermine long-term growth, and that entitlements are propelling us toward a grave fiscal crisis. MMT, as Kelton shows, shifts the terrain from narrow budgetary questions to one of broader economic and social benefits. With its important new ways of understanding money, taxes, and the critical role of deficit spending, MMT redefines how to responsibly use our resources so that we can maximize our potential as a society. MMT gives us the power to imagine a new politics and a new economy and move from a narrative of scarcity to one of opportunity.

Download or read book Taxation and the Economy written by George A. Nikolaieff and published by . This book was released on 1968 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Expansionary Austerity New International Evidence written by Mr.Daniel Leigh and published by International Monetary Fund. This book was released on 2011-07-01 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the short-term effects of fiscal consolidation on economic activity in OECD economies. We examine the historical record, including Budget Speeches and IMFdocuments, to identify changes in fiscal policy motivated by a desire to reduce the budget deficit and not by responding to prospective economic conditions. Using this new dataset, our estimates suggest fiscal consolidation has contractionary effects on private domestic demand and GDP. By contrast, estimates based on conventional measures of the fiscal policy stance used in the literature support the expansionary fiscal contractions hypothesis but appear to be biased toward overstating expansionary effects.

Download or read book Taxation in the Global Economy written by Assaf Razin and published by University of Chicago Press. This book was released on 2008-04-15 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: The increasing globalization of economic activity is bringing an awareness of the international consequences of tax policy. The move toward the common European market in 1992 raises the important question of how inefficiencies in the various tax systems—such as self-defeating tax competition among member nations—will be addressed. As barriers to trade and investment tumble, cross-national differences in tax structures may loom larger and create incentives for relocations of capital and labor; and efficient and equitable income tax systems are becoming more difficult to administer and enforce, particularly because of the growing importance of multinational enterprises. What will be the role of tax policy in this more integrated world economy? Assaf Razin and Joel Slemrod gathered experts from two traditionally distinct specialties, taxation and international economics, to lay the groundwork for understanding these issues, which will require the attention of scholars and policymakers for years to come. Contributors describe the basic provisions of the U.S. tax code with respect to international transactions, highlighting the changes contained in the U.S. Tax Reform Act of 1986; explore the ways that tax systems influence the decisions of multinationals; examine the effect of taxation on trade patterns and capital flows; and discuss the implications of the opening world economy for the design of optimal international tax policy. The papers will prove valuable not only to scholars and students, but to government economists and international tax lawyers as well.

Download or read book The US Deficit written by Kathy Jennings and published by Greenhaven Publishing. This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Each title in the highly acclaimed Opposing Viewpoints series explores a specific issue by placing expert opinions in a unique pro/con format; the viewpoints are selected from a wide range of highly respected and often hard-to-find publications.; This title explores numerous facets of the US deficit, including whether deficit reduction is necessary to strengthen the economy and increase jobs; the role taxes should play in reducing the deficit; whether cutting programs like Medicare and Social Secu; "Each volume in the Opposing Viewpoints Series could serve as a model not only providing access to a wide diversity of opinions, but also stimulating readers to do further research for group discussion and individual interest. Both shrill and moderate, th"

Download or read book Taxes and Government Spending written by Andrea Lubov and published by Lerner Publishing Group. This book was released on 1990 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: Describes how federal, state, and local governments tax citizens, the different kinds of taxes, and how tax revenues are spent. Also explains how federal spending affects the national economy and discusses the federal deficit.

Download or read book Do Deficits Matter written by Daniel Shaviro and published by University of Chicago Press. This book was released on 1997-05 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: Do deficits matter? Yes and no, says Daniel Shaviro in this political and economic study. Yes, because fiscal policy affects generational distribution, national saving, and the level of government spending. And no, because the deficit is an inaccurate measure with little economic content. This book provides an invaluable guide for anyone wanting to know exactly what is at stake for Americans in this ongoing debate. "[An] excellent, comprehensive, and illuminating book. Its analysis, deftly integrating considerations of economics, law, politics, and philosophy, brings the issues of 'balanced budgets,' national saving, and intergenerational equity out of the area of religious crusades and into an arena of reason. . . . A magnificent, judicious, and balanced treatment. It should be read and studied not just by specialists in fiscal policy but by all those in the economic and political community."—Robert Eisner, Journal of Economic Literature "Shaviro's history, economics, and political analysis are right on the mark. For all readers."—Library Journal

Download or read book Tax Smoothing in a Financially Repressed Economy written by Paul Anthony Cashin and published by . This book was released on 2006 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: India has a long history of running fiscal deficits. Two broad considerations motivate a government to run a deficit: tax smoothing and tax tilting. This paper tests a version of Barro`s tax-smoothing model, using Indian data for the period 1951-52 to 1996-97. The empirical results indicate that the central government of India has tax-smoothed, while the regional governments of India have not. The paper also finds evidence of tax tilting, reflected in financial repression, which has led to the accumulation of excessive public liabilities.

Download or read book The Budget and Economic Outlook written by and published by . This book was released on 2008 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: