Econ Comments & Analysis
WSJ | The Tax Cliff Is a Growth Killer
The United States faces an economic collapse thanks to massive tax increases on Jan. 1, and continued deficit spending for years on end.
NBER | Trade Credit and Taxes
This paper analyzes the extent to which firms use trade credit to reallocate capital in response to tax incentives. Tax-induced differences in pretax returns encourage the use of trade credit to reallocate capital from firms facing low tax rates to those facing high tax rates.
Blogs
CATO | The CBO on Falling Incomes and Rising Tax Shares of the Top 1%
New Congressional Budget Office (CBO) figures show that the top 1% paid 21.3% of all federal taxes from 1993 to 2000, when Clinton was president, but they paid 25.1% from 2003 to 2008, after the Bush tax cuts. If 21.3% was a fair share in the Clinton years, then the top 1% has been paying much more than its fair share since 2003.
Greg Mankiw | The Progressivity of Taxes and Transfers
To update one of the tables for the next edition of my favorite textbook, I have been looking at the new CBO report on the distribution of income and taxes. I found the following calculations, based on the numbers in the CBO's Table 7, illuminating.
