Some Mistakes in Harberger's Capital Tax Theory

2014 ◽  
Author(s):  
Hak Choi
Keyword(s):  
Capital Tax

The Relation between Business Property Values and Local Property Taxes

2014 ◽  
Vol 37 (1) ◽  
pp. 103-128 ◽  
Author(s):  
Kimberly G. Key ◽  
Teresa A. Lightner
Keyword(s):  
Property Values ◽  
Local Property ◽  
Property Taxes ◽  
Tax Revenue ◽  
Industrial Property ◽  
Business Taxes ◽  
Trade Offs ◽  
Property Owners ◽  
Capital Tax ◽  
Business Property

ABSTRACT This study examines the relation between commercial and industrial property values and local property taxes using 1999 to 2009 data for the state of Georgia. Results show a negative relation between commercial values and property taxes, consistent with the new view of capital tax prediction that these taxes are borne, at least in part, by property owners. Incidence estimates show very high to full capitalization. There is little evidence of a relation between industrial property values and property taxes, contrary to prior research. This study is the first to provide empirical evidence of differences in commercial and industrial property tax incidence. The study contributes to the understanding of the capitalization of business taxes, which has been the subject of very little prior research. The results can inform policymakers who consider trade-offs in tax revenue needs, economic development, and issues of fairness in their localities.

An analysis of US greenhouse gas cap-and-trade proposals using a forward-looking economic model

2011 ◽  
Vol 16 (2) ◽  
pp. 155-176 ◽  
Author(s):  
ANGELO COSTA GURGEL ◽  
SERGEY PALTSEV ◽  
JOHN REILLY ◽  
GILBERT METCALF
Keyword(s):  
Greenhouse Gas ◽  
Ghg Emissions ◽  
Substantial Effect ◽  
Welfare Cost ◽  
Economic Implications ◽  
Early Action ◽  
Labor Tax ◽  
Long Term Effect ◽  
Capital Tax ◽  
Forward Looking

ABSTRACTWe develop a forward-looking version of the recursive dynamic MIT Emissions Prediction and Policy Analysis (EPPA) model, and apply it to examine the economic implications of proposals in the US Congress to limit greenhouse gas (GHG) emissions. We find that shocks in the consumption path are smoothed out in the forward-looking model and that the lifetime welfare cost of GHG policy is lower than in the recursive model, since the forward-looking model can fully optimize over time. The forward-looking model allows us to explore issues for which it is uniquely well suited, including revenue-recycling and early action crediting. We find capital tax recycling to be more welfare-cost reducing than labor tax recycling because of its long-term effect on economic growth. Also, there are substantial incentives for early action credits; however, when spread over the full horizon of the policy they do not have a substantial effect on lifetime welfare costs.

A NOTE ON OPTIMAL CAPITAL TAXATION WITH PREFERENCE EXTERNALITIES

2018 ◽  
Vol 24 (3) ◽  
pp. 729-746 ◽  
Author(s):  
Cheng-Wei Chang ◽  
Ching-Chong Lai
Keyword(s):  
The United States ◽  
Income Taxes ◽  
Income Taxation ◽  
Capital Taxation ◽  
Neoclassical Growth Model ◽  
Factor Income ◽  
Status Seeking ◽  
Capital Tax ◽  
Optimal Capital ◽  
Neoclassical Growth

This paper extends the Chamley–Judd framework by introducing preference externalities in a neoclassical growth model, and finds that the optimal capital tax increases with the extent of social-status seeking or negative leisure externalities. Furthermore, this paper finds that differences in leisure externalities lead to a distinct impact on optimal factor income taxes, and hence may serve as a plausible vehicle to explain the empirical differences in factor income taxation in the United States and Europe.

scholarly journals Diagnóstico del área financiera del sector supermercados e hipermercados en el departamento de Boyacá.

2014 ◽  
Vol 13 (2) ◽  
pp. 33-52
Author(s):  
Jorge Enrique Romero Muñoz ◽  
Diana Carolina Castelblanco Vargas ◽  
Martha Liliana Bastidas Arandia
Keyword(s):  
Financial Management ◽  
Rating Scale ◽  
Performance Level ◽  
Working Capital ◽  
Chambers Of Commerce ◽  
Management Area ◽  
Capital Tax ◽  
Low Performance ◽  
Financial Environment ◽  
Tax Costs

El trabajo muestra las características generales del área financiera de las empresas del sector Supermercados e hipermercados del departamento de Boyacá con las variables: contabilidad, presupuestos, capital de trabajo, tributaria, costos, análisis de la gestión financiera y conocimiento del entorno financiero, se identifican las fortalezas y debilidades en el manejo del área financiera de las empresas, asícomo los puntos críticos de atención en cada una de las variables analizadas. La información se obtuvo a partir de la realización de un cuestionario de 60 preguntas dirigidas a una muestra de 173 empresarios del sector, registrados en las Cámaras de Comercio de Tunja, Duitama y Sogamoso, seleccionados de manera aleatoria, eneste cuestionario se evaluó el nivel de desempeño de los empresarios con respecto a las preguntas formuladas mediante una escala de valoración de 1 a 4. Los resultados obtenidos señalaron un desempeño muy bajo en el manejo del área financiera en las empresas del sector, ya que ninguna de las variables evaluadas supera los 3 puntos, de igual forma cabe resaltar que el área de Tributaria y Contabilidad, son las demayor preocupación en el sector.PALABRAS CLAVEDiagnóstico, área financiera, contabilidad, presupuestos, capital de trabajo, tributaria, costos. ABSTRACTThe work shows the general characteristics of the financial area companies Supermarkets and hypermarkets in the department of Boyacá with variables: accounting, budgeting, working capital, tax, costs, financial management analysis and knowledge of the financial environment, in this case are identified strengths and weaknesses in the financial management area businesses as well as the criticalpoints of care in each of the variables analyzed. The information was obtained from the realization of a questionnaire to 60 questions to a sample of 173 entrepreneurs registered in the Chambers of Commerce of Tunja, Duitama and Sogamoso, randomly selected, in this questionnaire, the performance level of the entrepreneurswas evaluated with respect to questions using a rating scale of 1-4. The results indicated a very low performance in the area of financial management companies in the sector, as any of the evaluated variables than 3 points, just as it should be noted that the area of Tax and Accounting, are of major concern in the sector.KEY WORDSDiagnostic, financial area, accounting, budgets, the capital of work, tributary, costs 

scholarly journals Optimal Factor Taxation under Wage Bargaining: A Dynamic Perspective

2008 ◽  
Vol 9 (2) ◽  
pp. 135-159 ◽  
Author(s):  
Erkki Koskela ◽  
Leopold von Thadden
Keyword(s):  
Steady State ◽  
General Equilibrium ◽  
Wage Bargaining ◽  
Labour Markets ◽  
Conflicting Demands ◽  
Imperfectly Competitive ◽  
Wage Tax ◽  
Dynamic Perspective ◽  
Capital Tax ◽  
Ramsey Type

Abstract We consider the issue of steady-state optimal factor taxation in a Ramsey-type dynamic general equilibrium setting with two distinct distortions: (i) taxes on capital and labour are the only available tax instruments for raising revenues and (ii) labour markets are subject to an inefficiency resulting from wage bargaining. If considered in isolation, the two distortions create conflicting demands on the wage tax, while calling for a zero capital tax. By combining the two distortions, we arrive at the conclusion that both instruments should be used, implying that the zero capital tax result in general is no longer valid under imperfectly competitive labour markets.

scholarly journals An evaluation of the revenue side as a source of fiscal consolidation in high debt economies

2014 ◽  
Vol 41 (6) ◽  
pp. 771-788
Author(s):  
Ritwik Banerjee
Keyword(s):  
General Equilibrium ◽  
Tax Rates ◽  
Consumption Tax ◽  
Policy Makers ◽  
Revenue Generation ◽  
Content Type ◽  
Tax Rate ◽  
Labor Tax ◽  
Capital Tax ◽  
European Economies

Purpose – Unsustainable levels of debt in some European economies are causing enormous strain in the Euro area. Successful debt consolidation in high-debt economies is the single most important objective for the European policy makers. The paper aims to discuss these issues. Design/methodology/approach – The author uses a dynamic general equilibrium closed economy model to compute the dynamic Laffer curves for Portugal, Ireland, Greece and Spain for different class of taxes. The general equilibrium effects of the interaction of labor tax, consumption tax and capital tax is demonstrated. Findings – Location of each economy on its Laffer curve suggests that there exists a scope for considerable revenue generation by raising consumption and labor tax rates but no such possibilities exist for capital tax rate. Thus revenue generation with certain tax rates as instruments, holds key to successful and sustained debt reduction. Originality/value – This to the best of knowledge is one of the first papers which looks closely at the tax revenue – tax rate panel for the major deeply indebted European economies.

Sign in / Sign up

Export Citation Format

Share Document