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| Author: | Jorgenson, D. W. Yun, K-Y. |
| Title: | Tax reform and U.S. economic growth |
| Journal: | Journal of Political Economy
1990 : OCT, VOL. 98:5, p. 151-193 |
| Index terms: | TAXATION USA ECONOMIC GROWTH INCOMES INCOME TAX |
| Language: | eng |
| Abstract: | The impact of tax reform act of 1986 is evaluated on USA economic growth. Previously, effective tax rates are calculated on income from capital employed in corporate, non-corporate and household sectors. Then the future growth of the USA economy is projected with and without the 1986 tax reform. It is found that much of the potential gain in welfare was dissipated through failure to index the income tax base for inflation. The most promosing avenue for future reform is to include income from household assets in the tax base, while reducing tax rates on business income. |
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