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One of the major architects of comprehensive tax reform has revised his widely acclaimed book on tax policy to reflect the changes brought about by the Tax Reform Act of 1986 and all other major changes in tax laws since 1983. Joseph A. Pechman's Federal Tax Policy is a nontechnical book for general readers and students interested in taxation as an instrument of public policy. It emphasizes such current issues as a comprehensive income taxation, inflation adjustments in income taxation, graduated income taxes versus expenditure taxes, the effects of taxation on economic incentives, and fiscal relations between the federal and state and local governments. Pechman presents and evaluates contrasting views on most forms of taxation personal and corporate income, general and selective consumption, payroll, estate and gift, property, and state and local--and offers a perceptive analysis of the process of tax legislation and the role of taxation in the fiscal policy. He also provides a valuable series of statistical table on tax developments and an extensive bibliography on tax theory and practice.
Income from capital receives uneven treatment in both the tax system and the loan markets. This affects almost every investment decision make by the individuals, business, and government and causes major disruptions in the economy. In this book C. Eugene Steuerle shows how the misallocation of capital results from the interaction of tax laws, the operation of the market for loanable funds, and inflation. He first analyzes the taxation of capital income, focusing on the distortions caused by tax arbitrage and on inflation-induced discriminations among both taxpayer and borrowers. The author then applies this analysis to several related issues. He concludes with a reform agenda that calls for the adoption of a broader-based, flatter-rate income tax.
The federal policy changes that Congress and the President will have to make as we approach the 21st century will be among the most far-reaching since the enactment of the New Deal. The scope of legislation before policymakers as they continue their efforts to balance the budget will be vast and many of its elements very technical. This new, highly accessible book examines the nature of the challenges confronting policymakers, the options that are available to address these challenges, and the ramifications of the various options. This new book, which continues Brookings' highly acclaimed and influential Setting National Priorities series, will serve as a guide for understanding and evaluati...
In the early 1960s America was in a confident mood and embarked on a series of efforts to solve the problems of poverty, racial discrimination, unemployment, and inequality of educational opportunity. The programs of the Great Society and the War on Poverty were undergirded by a broad consensus about what our problems as a nation were and how we should solve them. But by the early seventies both political and scholarly tides had shifted. Americans were divided and uncertain about what to do abroad, fearful of military inferiority, and pessimistic about the capacity of government to deal affirmatively with domestic problems. A new administration renounced the rhetoric of the Great Society and...
This book, part of the Studies in Social Economics series, examines old age pensions in the United States. Alicia H. Munnell explores the factors that have influenced the growth of private pension plans.
One of today's most important national concerns is the projected bankruptcy of Social Security some time in the next few decades and its consequent inability to pay full benefits on time. Yet despite two decades of warnings about this, nothing is being done. The saying that Social Security is the third rail of American politics - touch it and you die - still holds true. In Social Security: False Consciousness and Crisis, John Attarian argues that the major cause of the current impasse is the misleading manner in which the program has been depicted to the public and the beliefs about Social Security which prevail as a result.
Research report evaluating economic implications of social security in the USA - discusses three competing economic theories on people's economic decision making, namely the life-cycle, multigeneration and short-horizon models, outlines historical trends and the impact of social security on saving, labour supply and long term income distribution. Graphs and references.
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