Major Revenue Raising Options An Overview Crs Report For Congress
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Major Revenue Raising Options An Overview Crs Report For Congress
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Author : Library of Congress. Congressional Research Service
language : en
Publisher:
Release Date : 1988
Major Revenue Raising Options An Overview Crs Report For Congress written by Library of Congress. Congressional Research Service and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988 with categories.
Corporate Tax Reform
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Author : Jane Gravelle
language : en
Publisher: Createspace Independent Publishing Platform
Release Date : 2017-10-10
Corporate Tax Reform written by Jane Gravelle and has been published by Createspace Independent Publishing Platform this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-10-10 with Corporations categories.
Interest in corporate tax reform that lowers the rate and broadens the base has developed in the past several years. Some discussions by economists in opinion pieces have suggested there is an urgent need to lower the corporate tax rate, but not necessarily to broaden the tax base, an approach that presents some difficulties given current budget pressures. Others see the corporate tax as a potential source of revenue. Arguments for lowering the corporate tax rate include the traditional concerns about economic distortions arising from the corporate tax and newer concerns arising from the increasingly global nature of the economy. Some claims have been made that lowering the corporate tax rate would raise revenue because of the behavioral responses, an effect that is linked to an open economy. Although the corporate tax has generally been viewed as contributing to a more progressive tax system because the burden falls on capital income and thus on higher-income individuals, claims have also been made that the burden falls not on owners of capital, but on labor income. The analysis in this report suggests that many of the concerns expressed about the corporate tax are not supported by empirical evidence. Claims that behavioral responses could cause revenues to rise if rates were cut do not hold up on either a theoretical or an empirical basis. Studies that purport to show a revenue-maximizing corporate tax rate of 30% (a rate lower than the current statutory tax rate) contain econometric errors that lead to biased and inconsistent results; when those problems are corrected the results disappear. Cross-country studies to provide direct evidence showing that the burden of the corporate tax actually falls on labor yield unreasonable results and prove to suffer from econometric flaws that also lead to a disappearance of the results when corrected, in those cases where data were obtained and the results replicated. Many studies that have been cited are not relevant to the United States because they reflect wage bargaining approaches and unions have virtually disappeared from the private sector in the United States. Overall, the evidence suggests that the tax is largely borne by capital. Similarly, claims that high U.S. tax rates will create problems for the United States in a global economy suffer from a misrepresentation of the U.S. tax rate compared with other countries and are less important when capital is imperfectly mobile, as it appears to be. Although these new arguments appear to rely on questionable methods, the traditional concerns about the corporate tax appear valid. While an argument may be made that the tax is still needed as a backstop to individual tax collections, it does result in some economic distortions. These economic distortions, however, have declined substantially over time as corporate rates and shares of output have fallen. Moreover, it is difficult to lower the corporate tax without creating a way of sheltering individual income given the low tax rates on dividends and capital gains. A number of revenue-neutral changes are available that could reduce these distortions, allow for a lower corporate statutory tax rate, and lead to a more efficient corporate tax system. These changes include base broadening, reducing the benefits of debt finance through inflation indexing, taxing large pass-through firms as corporations, and reducing the tax at the firm level offset by an increase at the individual level. Nevertheless, the scope for reducing the tax rate in a revenue-neutral way may be limited.
Major Studies Issue Briefs Of The Congressional Research Service
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Author :
language : en
Publisher:
Release Date : 1989
Major Studies Issue Briefs Of The Congressional Research Service written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with Government publications categories.
Major Studies And Issue Briefs Of The Congressional Research Service
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Author :
language : en
Publisher:
Release Date : 1989
Major Studies And Issue Briefs Of The Congressional Research Service written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with Law categories.
The Flat Tax
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Author : Robert E. Hall
language : en
Publisher: Hoover Press
Release Date : 2013-09-01
The Flat Tax written by Robert E. Hall and has been published by Hoover Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-09-01 with Political Science categories.
This new and updated edition of The Flat Tax—called "the bible of the flat tax movement" by Forbes—explains what's wrong with our present tax system and offers a practical alternative. Hall and Rabushka set forth what many believe is the most fair, efficient, simple, and workable tax reform plan on the table: tax all income, once only, at a uniform rate of 19 percent.
Us Congress Joint Committee On Taxation Handbook Strategic Information And Regulations
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Author : IBP USA
language : en
Publisher: Lulu.com
Release Date : 2007-02-07
Us Congress Joint Committee On Taxation Handbook Strategic Information And Regulations written by IBP USA and has been published by Lulu.com this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-02-07 with Business & Economics categories.
US Congress Joint Committee on Taxation Handbook
A Firm Lower Bound Characteristics And Impact Of Corporate Minimum Taxation
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Author : Aqib Aslam
language : en
Publisher: International Monetary Fund
Release Date : 2021-06-08
A Firm Lower Bound Characteristics And Impact Of Corporate Minimum Taxation written by Aqib Aslam and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-06-08 with Business & Economics categories.
This paper examines the role of minimum taxes and attempts to quantify their impact on economic activity. Minimum taxes can be effective at shoring up the corporate tax base and enhancing the perceived equity of the tax system, potentially motivating broader taxpayer compliance. Where political and administrative constraints prevent reforms to the standard corporate income tax, a minimum tax can help mitigate base erosion from excessive tax incentives and avoidance. Using a new panel dataset that catalogues changes in minimum tax regimes over time around the world, firm-level analysis suggests that the introduction or reform of a minimum tax is associated with an increase in the average effective tax rate of just over 1.5 percentage points with respect to turnover and of around 10 percent with respect to operating income. Minimum taxes based on modified corporate income lead to the largest increases in effective tax rates, followed by those based on assets and turnover.
Estimates Of Federal Tax Expenditures
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Author : United States. Department of the Treasury
language : en
Publisher:
Release Date : 1975
Estimates Of Federal Tax Expenditures written by United States. Department of the Treasury and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1975 with Revenue categories.
The Federal Budget Process V 2
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Author : Bill Heniff Jr.
language : en
Publisher: The Capitol Net Inc
Release Date : 2018-06-20
The Federal Budget Process V 2 written by Bill Heniff Jr. and has been published by The Capitol Net Inc this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-06-20 with Political Science categories.
Budgeting for the federal government is an enormously complex process. It entails dozens of subprocesses, countless rules and procedures, the efforts of tens of thousands of staff persons in the executive and legislative branches, and the active participation of the President, congressional leaders, Members of Congress, and members of the executive branch. This analysis shows the various elements of the federal budget process including the President's budget submission, framework, timetable, the budget resolution, reconciliation, the "Byrd Rule," appropriations, authorizations, and budget execution. Congress is distinguished from nearly every other legislature in the world by the control it exercises over fashioning the government's budgetary policies. This power, referred to as "the power of the purse," ensures Congress' primary role in setting revenue and borrowing policies for the federal government and in determining how these resources are spent. The congressional power of the purse derives from several key provisions in the Constitution. Article I, Section 8, Clause 1 (Power to tax and spend) declares in part that Congress shall have the power to raise (that is, "to lay and collect") revenues of various types, including taxes and duties, among other things. Article I, Section 8, Clause 2 (Borrowing power) declares that the power to borrow funds "on the credit of the United States" belongs to Congress. In addition to its powers regarding revenues and borrowing, Congress exerts control over the expenditure of funds. Article I, Section 9, Clause 7 declares in part that funds can be withdrawn from the Treasury only pursuant to laws that make appropriations. Under the Constitution, revenue measures must originate in the House of Representatives. Beyond this requirement, however, the Constitution does not prescribe how the House and Senate should organize themselves, or the procedures they should use, to conduct budgeting. Over the years, however, both chambers have developed an extensive set of rules (some set forth in statute) and precedents that lay out complicated, multiple processes for making budgetary decisions. The House and Senate have also created an intricate committee system to support these processes. As American society has grown and become ever more complex, and as the role of the federal government in the national economy has steadily expanded, Congress also has increasingly shared power over budgetary matters with the president and the executive branch. It has refashioned the president’s role in budgeting by requiring him to submit to Congress each year a budget for the entire federal government and giving him responsibilities for monitoring agencies’ implementation of spending and revenue laws. Accordingly, the president also exercises considerable influence over key budget decisions. Table of Contents 1. "Introduction to the Federal Budget Process," CRS Report 98-721, December 3, 2012 (38-page PDF) 2. "The Executive Budget Process: An Overview," CRS Report R42633, July 27, 2012 3. "The Executive Budget Process Timetable," CRS Report RS20152, December 5, 2012 (8-page PDF) 4. "The Congressional Budget Process: A Brief Overview," CRS Report RS20095, August 22, 2011 5. "Budget Resolution Enforcement," CRS Report 98-815, August 12, 2008 6. "Deeming Resolutions: Budget Enforcement in the Absence of a Budget Resolution," CRS Report R44296, June 26, 2017 7. "Legislating in Congress: Federal Budget Process," Contributing Author Bill Heniff Jr., with updates by Robert Keith and Megan Lynch 8. "The Budget Reconciliation Process: Stages of Consideration," CRS Report R44058, January 4, 2017 9. "The Budget Reconciliation Process: The Senate's 'Byrd Rule'," CRS Report RL30862, November 22, 2016 (44-page PDF) 10. "The Congressional Appropriations Process: An Introduction," CRS Report R42388, November 30, 2016 (28-page PDF) 11. "Allocations and Subdivisions in the Congressional Budget Process," CRS Report RS20144, November 29, 2010 12. "Omnibus Appropriations Acts: Overview of Recent Practices," CRS Report RL32473, January 14, 2016 13. "Appropriations Report Language: Overview of Development, Components, and Issues for Congress," CRS Report R44124 July 28, 2015 14. "Overview of the Authorization-Appropriations Process," CRS Report RS20371, November 26, 2012 (5-page PDF) 15. "Points of Order in the Congressional Budget Process," CRS Report 97-865, October 20, 2015 (21-page PDF) 16. "The Budget Control Act: Frequently Asked Questions," CRS Report R44874, February 23, 2018 17. "Budget 'Sequestration' and Selected Program Exemptions and Special Rules," CRS Report R42050, June 13, 2013 (35-page PDF) 18. "Continuing Resolutions: Overview of Components and Recent Practices," CRS Report R42647, January 14, 2016 19. Additional Resources Federal Budget Links and Research Tools Laws, web sites, and books TCNBudget.com Custom On-Site Training Understanding Congressional Budgeting and Appropriations, TCNUCBA.com Advanced Federal Budget Process, TCNAFBP.com Congressional Dynamics and the Legislative Process, TCNCDLP.com Capitol Learning Audio Courses TM Appropriations Process in a Nutshell with James Saturno, ISBN 1-58733-043-1 Authorizations and Appropriations in a Nutshell with James Saturno, ISBN 1-58733-029-6 The Federal Budget Process with Philip Joyce, ISBN 1-58733-083-0 IndexFederalBudgetProcess.com
Wanton Deviltry Or
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Author :
language : en
Publisher:
Release Date : 194?
Wanton Deviltry Or written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 194? with categories.