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An engaging and enlightening account of taxation told through
lively, dramatic, and sometimes ludicrous stories drawn from around
the world and across the ages Governments have always struggled to
tax in ways that are effective and tolerably fair. Sometimes they
fail grotesquely, as when, in 1898, the British ignited a rebellion
in Sierra Leone by imposing a tax on huts-and, in repressing it,
ended up burning the very huts they intended to tax. Sometimes they
succeed astonishingly, as when, in eighteenth-century Britain, a
cut in the tax on tea massively increased revenue. In this
entertaining book, two leading authorities on taxation, Michael
Keen and Joel Slemrod, provide a fascinating and informative tour
through these and many other episodes in tax history, both
preposterous and dramatic-from the plundering described by
Herodotus and an Incan tax payable in lice to the (misremembered)
Boston Tea Party and the scandals of the Panama Papers. Along the
way, readers meet a colorful cast of tax rascals, and even a few
tax heroes. While it is hard to fathom the inspiration behind such
taxes as one on ships that tended to make them sink, Keen and
Slemrod show that yesterday's tax systems have more in common with
ours than we may think. Georgian England's window tax now seems
quaint, but was an ingenious way of judging wealth unobtrusively.
And Tsar Peter the Great's tax on beards aimed to induce the
nobility to shave, much like today's carbon taxes aim to slow
global warming. Rebellion, Rascals, and Revenue is a surprising and
one-of-a-kind account of how history illuminates the perennial
challenges and timeless principles of taxation-and how the past
holds clues to solving the tax problems of today.
The six papers in this vohune represent state-of-the-art empirical
and conceptual research on various aspects of the taxation of
multinational corporations. They were commissioned for and
presented at a conference organized by Price Waterhouse LLP on
behalf of the International Tax Policy Forum, held in Washington,
DC in March, 1994. The ftrst four papers were originally published
in the May, 1995 issue of International Tax and Public Finance. The
Slemrod paper appeared in the Policy Watch Section of the November,
1995 issue of that journal. The foregoing papers were subject to
the normal refereeing procedures of the journal, and the summaries
that follow are drawn from there. The Leamer paper has not been
previously published. Altshuler and Mintz examine one aspect of the
1986 u. s. Tax Reform Act --the change in the rules for the
allocation of interest expense between domestic-(U. S. ) and
foreign-source income. In the absence of rules, a parent with
excess credits could reduce U. S. tax liability by allocating
interest expense toward itself; thus reducing its taxable domestic
income without any compensating increase in either the U. S. tax
due on foreign-source income or the foreign tax due (which is
independent of U. S. rules).
The six papers in this vohune represent state-of-the-art empirical
and conceptual research on various aspects of the taxation of
multinational corporations. They were commissioned for and
presented at a conference organized by Price Waterhouse LLP on
behalf of the International Tax Policy Forum, held in Washington,
DC in March, 1994. The ftrst four papers were originally published
in the May, 1995 issue of International Tax and Public Finance. The
Slemrod paper appeared in the Policy Watch Section of the November,
1995 issue of that journal. The foregoing papers were subject to
the normal refereeing procedures of the journal, and the summaries
that follow are drawn from there. The Leamer paper has not been
previously published. Altshuler and Mintz examine one aspect of the
1986 u. s. Tax Reform Act --the change in the rules for the
allocation of interest expense between domestic-(U. S. ) and
foreign-source income. In the absence of rules, a parent with
excess credits could reduce U. S. tax liability by allocating
interest expense toward itself; thus reducing its taxable domestic
income without any compensating increase in either the U. S. tax
due on foreign-source income or the foreign tax due (which is
independent of U. S. rules).
An engaging and enlightening account of taxation told through
lively, dramatic, and sometimes ludicrous stories drawn from around
the world and across the ages Governments have always struggled to
tax in ways that are effective and tolerably fair. Sometimes they
fail grotesquely, as when, in 1898, the British ignited a rebellion
in Sierra Leone by imposing a tax on huts-and, in repressing it,
ended up burning the very huts they intended to tax. Sometimes they
succeed astonishingly, as when, in eighteenth-century Britain, a
cut in the tax on tea massively increased revenue. In this
entertaining book, two leading authorities on taxation, Michael
Keen and Joel Slemrod, provide a fascinating and informative tour
through these and many other episodes in tax history, both
preposterous and dramatic-from the plundering described by
Herodotus and an Incan tax payable in lice to the (misremembered)
Boston Tea Party and the scandals of the Panama Papers. Along the
way, readers meet a colorful cast of tax rascals, and even a few
tax heroes. While it is hard to fathom the inspiration behind such
taxes as one on ships that tended to make them sink, Keen and
Slemrod show that yesterday's tax systems have more in common with
ours than we may think. Georgian England's window tax now seems
quaint, but was an ingenious way of judging wealth unobtrusively.
And Tsar Peter the Great's tax on beards aimed to induce the
nobility to shave, much like today's carbon taxes aim to slow
global warming. Rebellion, Rascals, and Revenue is a surprising and
one-of-a-kind account of how history illuminates the perennial
challenges and timeless principles of taxation-and how the past
holds clues to solving the tax problems of today.
The new edition of a popular guide to the key issues in tax reform,
presented in a clear, nontechnical, and unbiased way. To follow the
debate over tax reform, the interested citizen is often forced to
choose between misleading sound bites and academic treatises.
Taxing Ourselves bridges the gap between the oversimplified and the
arcane, presenting the key issues clearly and without a political
agenda. Tax policy experts Joel Slemrod and Jon Bakija lay out in
accessible language what is known and not known about how taxes
affect the economy and offer guidelines for evaluating tax
systems-both the current tax system and proposals to reform it.
This fifth edition has been extensively revised to incorporate the
latest data, empirical evidence, and tax law. It offers new
material on recent tax reform proposals, expanded coverage of
international tax issues, and the latest enforcement initiatives.
Offering historical perspectives, outlining the basic criteria by
which tax policy should be judged (fairness, economic impact,
enforceability), examining proposals for both radical change
(replacement of the income tax with a flat tax or consumption tax)
and incremental changes to the current system, and concluding with
a voter's guide, the book provides readers with enough background
to make informed judgments about how we should tax ourselves.
Praise for earlier editions "An excellent book." -Jeff Medrick, New
York Times "A fair-minded exposition of a politically loaded
subject." -Kirkus Reviews
This book was first published in 2007. Most countries levy taxes on
corporations, but the impact - and therefore the wisdom - of such
taxes is highly controversial among economists. Does the burden of
these taxes fall on wealthy shareowners, or is it passed along to
those who work for, or buy the products of, corporations? Can a
country with high corporate taxes remain competitive in the global
economy? This book features research by leading economists and
accountants that sheds light on these and related questions,
including how taxes affect corporate dividend policy, stock market
value, avoidance, and evasion. The studies promise to inform both
future tax policy and regulatory policy, especially in light of the
Sarbanes-Oxley Act and other actions by the Securities and Exchange
Commission that are having profound effects on the market for tax
planning and auditing in the wake of the well-publicized accounting
scandals in Enron and WorldCom.
This book was first published in 2007. Most countries levy taxes on
corporations, but the impact - and therefore the wisdom - of such
taxes is highly controversial among economists. Does the burden of
these taxes fall on wealthy shareowners, or is it passed along to
those who work for, or buy the products of, corporations? Can a
country with high corporate taxes remain competitive in the global
economy? This book features research by leading economists and
accountants that sheds light on these and related questions,
including how taxes affect corporate dividend policy, stock market
value, avoidance, and evasion. The studies promise to inform both
future tax policy and regulatory policy, especially in light of the
Sarbanes-Oxley Act and other actions by the Securities and Exchange
Commission that are having profound effects on the market for tax
planning and auditing in the wake of the well-publicized accounting
scandals in Enron and WorldCom.
Although estate and gift taxes raise a small fraction of
federal revenues, they have become sources of increasing political
controversy. This book is designed to inform the current policy
debate and build a conceptual basis for future scholarship. The
book contains eleven original studies of estate and gift taxes,
along with discussants' comments. The essays provide background and
historical information; analyze the optimal taxation of estates and
gifts; examine the effects of the tax on charitable contributions,
saving behavior, the distribution and level of wealth, tax
avoidance and tax evasion; and explore the effects of alternatives
to estate taxation.
This volume collects articles from the Symposium series of the
National Tax Journal from 1993 to 1998. Leading economists and
other scholars discuss and debate current tax policy issues in
nontechnical language and illustrate how the principles of tax
analysis can be applied to real-world issues. Among the topics
addressed are the practical feasibility of consumption tax
alternatives to the current income tax, the rationale and
implications of devolution of fiscal responsibilities to state and
local governments, the effect of tax policy on economic growth, and
the value of local tax incentives designed to attract and retain
business.
This book assembles nine papers on tax progressivity and its
relationship to income inequality, written by leading public
finance economists. The papers document the changes during the
1980s in progressivity at the federal, state, and local level in
the US. One chapter investigates the extent to which the declining
progressivity contributed to the well-documented increase in income
inequality over the past two decades, while others investigate the
economic impact and cost of progressive tax systems. Special
attention is given to the behavioral response to taxation of
high-income individuals, portfolio behavior, and the taxation of
capital gains. The concluding set of essays addresses the
contentious issue of what constitutes a 'fair' tax system,
contrasting public attitudes towards alternative tax systems to
economists' notions of fairness. Each essay is followed by remarks
of a commentator plus a summary of the discussion among
contributors.
Should the rich bear the brunt of the tax burden, or should it be shared proportionately among the population? This issue has dominated recent public debates over the tax system, and is a controversial issue among economists. This book contains nine essays by economists on tax progressivity--how the tax burden is borne across income classes--and how the tax system affects the inequality of income. It presents the basic facts about how tax progressivity in the U.S. has changed in the 1980s, and assesses its role in exacerbating or offsetting the overall trend toward increased income inequality.
This volume collects articles from the Symposium series of the National Tax Journal from 1993 to 1998. Leading economists and other scholars discuss and debate current tax policy issues in nontechnical language and illustrate how the principles of tax analysis can be applied to real-world issues. Among the topics addressed are the practical feasibility of consumption tax alternatives to the current income tax, the rationale and implications of devolution of fiscal responsibilities to state and local governments, the effect of tax policy on economic growth, and the value of local tax incentives designed to attract and retain business.
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