By Martin Feldstein
Economists have lengthy well-known the significance of capital accumulation for productiveness and fiscal progress. The nationwide Bureau of financial study is at the moment engaged in a examine of the connection among such accumulation and taxation rules, with specific concentrate on saving, risk-taking, and company funding within the usa and out of the country. The papers provided in Taxes and Capital Formation are available, nontechnical summaries of fourteen person examine tasks inside that research. whole technical studies in this examine are released in a separate quantity, the consequences of Taxation on Capital Accumulation, additionally edited by way of Martin Feldstein. through addressing the most severe coverage problems with the day with at the very least fiscal jargon, Taxes and Capital Formation makes the result of Bureau examine to be had to a large viewers of coverage officers and employees in addition to to participants of the enterprise group. the quantity also needs to turn out necessary for classes in public coverage, company, and legislations. according to Bureau culture, the papers don't include coverage strategies; in its place, they advertise a greater knowing of ways the economic system works and the consequences of particular guidelines on specific elements of the economic climate.
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Additional resources for Taxes and Capital Formation (National Bureau of Economic Research Project Report)
Congress has modified the tax treatment of structures since passage of the 1961 act, although not substantially. The 1984 Deficit Reduction Act (DEFRA) lengthened the tax lives of most structures to eighteen years and slightly changed the tax treatment of installment sales. Tax lives of structures were further extended to nineteen years in 1985. Depreciation and recapture provisions were otherwise unaffected by these laws. 2 Evaluating the Incentive to Chum The feasibility of churning an asset depends on its characteristics.
New York: McGraw-Hill. Jorgenson, Dale, and Robert Hall. 1967. Tax policy and investment behavior. American Economic Review 57 (June): 391 -414. 36 Lawrence H. Summers Ruback, Richard S. 1987. Calculating the market value of riskless cash flows. Journal of Financial Economics. In press. Summers, Lawrence H. 1987. Investment incentives and the discounting of depreciation allowances. In The effects of taxation on capital accumulation, ed. Martin Feldstein. Chicago: University of Chicago Press. Department of the Treasury.
Does your company treat different components of cash flow differently? -yes -no 5 ) If so, what discount rate do you apply to each of the following types of cash flow: -operating profits -scrap value -depreciation tax benefits -investment tax credits -rental income Comments : References Auerbach, Alan, and Dale Jorgenson. 1980. Inflation-proof depreciation of assets. Harvard Business Review (September-October): 113- 18. Auerbach, Alan, and James Poterba. 1987. Tax loss carryforwards and corporate tax incentives.
Taxes and Capital Formation (National Bureau of Economic Research Project Report) by Martin Feldstein