Showing papers in "National Tax Journal in 1982"
TL;DR: In theory, the individual income tax is "general" in the sense that its impact is the same on returns from all types of employment as discussed by the authors. But in practice, certain features of the income tax suggest that...
Abstract: In theory, the individual income tax is "general" in the sense that its impact is the same on returns from all types of employment. But in practice, certain features of the income tax suggest that ...
116Â citations
TL;DR: This article used survey data to examine why voters support tax limitations in California and Michigan, and found that voters supported tax limitation in both states, and that tax limitation votes in California were more popular than those in Michigan.
Abstract: Like two recent papers in this journal about tax limitation votes in California and Michigan, this paper uses survey data to examine why voters support tax limitations. The study uses data from a l...
87Â citations
Abstract: This paper explores the notion that local governments engage in strategic behavior in an effort to retain tax base. In particular, the hypothesis that the level of expenditures for the central citi...
72Â citations
TL;DR: In the early 1970s, changes in eligibility standards and a sharp increase in participation rates induced a major expansion of Aid to Families with Dependent Children (AFDC) and federalization of aid to the aged, blind and disabled in 1974 under the Supplemental Security Income (SSI) program as mentioned in this paper.
Abstract: redistribution should be a function of the highest possible level of government and therefore urge a greater federal role in public assistance programs for the poor. Although the argument has focused primarily on the financing of public assistance, some analysts argue that the federal government should administer the programs as well. During the postwar period, the federal role in public assistance increased dramatically. In the late 1960s and early 1970s, changes in eligibility standards and a sharp increase in participation rates induced a major expansion of Aid to Families with Dependent Children (AFDC). Federalization of aid to the aged, blind and disabled in 1974 under the Supplemental Security Income (SSI) program also contributed to the trend. Most recently, the federally financed food stamp program and the jointly financed Medicaid program have offered more generous benefits to more people and represent the fastest growing program areas. The Reagan administration, however, contends that many redistributive functions should be returned to state and local
71Â citations
TL;DR: The new depreciation system adopted as part of the Economic Recovery Tax Act of 1981 will produce effective tax rates on new fixed investment estimated at 16 to 21 percent, well below the 46 percen...
Abstract: The new depreciation system adopted as part of the Economic Recovery Tax Act of 1981 will produce effective tax rates on new fixed investment estimated at 16 to 21 percent, well below the 46 percen...
55Â citations
42Â citations
TL;DR: The recent conclusions about the nonneutrality of land value taxation are shown not to invalidate the neutrality result for per unit land taxation (or even use-independent land value tax) as discussed by the authors.
Abstract: The recent conclusions about the nonneutrality of land value taxation are shown not to invalidate the neutrality result for per unit land taxation (or even use-independent land value taxation, as i...
39Â citations
36Â citations
TL;DR: In this article, a sample of probate records matched to lifetime earnings records was used to estimate the incidence by income class of a lifetime consumption tax, since bequests made are not taxed by a tax collector.
Abstract: This paper exploits a sample of probate records matched to lifetime earnings records to estimate the incidence by income class of a lifetime consumption tax. Since bequests made are not taxed by a ...
33Â citations
29Â citations
TL;DR: In this article, the elasticity of taxes paid with respect to permanent income is estimated for owner-occupied housing capital, assuming that the tax levied on owner occupied housing capital is largely borne by the current homeowner.
Abstract: If the tax levied on owner-occupied housing capital is largely borne by the current homeowner, estimates of the elasticity of taxes paid with respect to permanent income provide reliable evidence o...
TL;DR: In this paper, the authors present new evidence suggesting that the current system of taxing capital gains greatly influences the yearend pattern of stock transactions, and the magnitude of this abnormal year-end behavior is related to the tax benefits to be gained from such transactions.
Abstract: This paper presents new evidence suggesting that the current system of taxing capital gains greatly influences the yearend pattern of stock transactions. Analysis of some extensive data on the seasonal pattern of stock sales reveals that sales of stocks resulting in capital losses are , ceteris paribus , significantly higher in December than in other months , and that gain-taking is lower in December than would otherwise be expected. In addition , the magnitude of this abnormal year-end behavior is related to the tax benefits to be gained from such transactions.
TL;DR: In this paper, the distribution among California residents of tax reductions mandated by Proposition 13 is analyzed. The results are based on a microsimulation model which accounts for the complexities of the tax reductions.
Abstract: This paper focuses on the distribution among California residents of tax reductions mandated by Proposition 13. The results are based on a microsimulation model which accounts for the complexities ...
TL;DR: Using a model based on previous econometric studies of charitable giving, the authors projected the effects of the 1981 tax act on contributions by individuals, among other provisions, the act will r...
Abstract: Using a model based on previous econometric studies of charitable giving, this paper projects the effects of the 1981 tax act on contributions by individuals. Among other provisions, the act will r...
TL;DR: To lessen the regressivity of their value added taxes, member countries of the European Economic Community (EEC), except Denmark, impose lower than general rates on products regarded as essential.
Abstract: To lessen the regressivity of their valueadded taxes, member countries of the European Economic Community (EEC), except Denmark, impose lower than general rates on products regarded as essential. T...
TL;DR: The authors examined the effect of citizen perceptions of fiscal flows upon public pressure to expand or limit the size of the federal government and examined the competing assertions offered by Buchanan and by Downs concerning the effects of these perceptions.
Abstract: An examination of the competing assertions offered by Buchanan and by Downs concerning the effects of citizen perceptions of fiscal flows upon public pressure to expand or limit the size of governm...
TL;DR: The authors developed and estimated the parameters of a model determining the outcome of bond elections for Ohio communities between 1968-1972, which can be interpreted as giving either a supply or demand model.
Abstract: This paper developes and estimates the parameters of a model determining the outcome of bond elections for Ohio communities between 1968-1972. The model can be interpreted as giving either a supply...
TL;DR: Many tax analysts believed that no further tax cut would even be considered, and that no other tax change would be politically feasible without an accompanying tax cut to sweeten the deal.
Abstract: many tax analysts that there would be no further income tax legislation for some time. The reasoning was that no further tax cut would even be considered, and that no other tax change would be politically feasible without an accompanying tax cut to sweeten the deal. This sense of immutability evaporated as the long-term implications of ERTA became clear. The fear of ever increasing budget deficits, even with the Administration's proposed 1983 budget cuts, has galvanized the will of the Congress to do something that it has always hesitated to do: raise taxes. Will the individual income tax be
TL;DR: In this paper, the authors argue that the rate at which buildings can be depreciated for tax purposes should be reduced, and they have based this argument on two contentions.
Abstract: Over the years economists often have argued that the rate at which buildings can be depreciated for tax purposes should be reduced. They have based this argument, essentially, on two contentions. T...
TL;DR: In this article, the authors discuss how it might be possible for the U.S. income tax to evolve into a consistent consumption tax and propose a series of steps leading to a consumption base.
Abstract: MY Among assigned its possible topic is interpretations ambiguous. Among its possible interpretations is the "scenario approach" I have chosen. That is, I propose to discuss how it might be possible for the U.S. income tax to evolve into a consistent consumption tax.1 In the first section below I describe some of the forces in the present situation that make further changes in the tax system likely. There follows a discussion of a series of steps leading to a consumption base. In that context some consideration of the corporation tax is unavoidable. Finally, in the context of transition issues, I set down some thoughts on one of the more difficult topics frequently raised in connection with the consumption base the treatment of gifts and bequests. A move to a consumption base could solve many problems in the existing system. I shall mention here some of those problems and how a consumption tax solves them. However, it is not my principal intent to advocate the "possibilities" I describe. More systematic treatments of the case for a consumption tax may be found in a number of recent studies, including Andrews [1974], Bradford [1980a, 1980b, 1982], Institute for Fiscal Studies [1978] Kay and King [1978], Lodin [1978], U.S. Treasury Department [1977] (hereafter referred to as Blueprints).
TL;DR: Since the inception of the Outer Continental Shelf (OCS) oil and gas leasing in 1954, income derived from oil and natural gas production has generally been accorded preferential tax treatment as discussed by the authors.
Abstract: Since the inception of Outer Continental Shelf oil and gas leasing in 1954, income derived from oil and natural gas production has generally been accorded preferential tax treatment. The tax provis...
TL;DR: In this article, the authors examine the opportunities available to a corporation as a result of issuing bonds at a premium or a discount, rather than at par, and show that these opportunities arise as the result of exploitation of exploitation o...
Abstract: This paper examines the opportunities available to a corporation as a result of issuing bonds at a premium or a discount, rather than at par. These opportunities arise as a result of exploitation o...