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The Taxation of Income from Capital in the United States, 1980-86

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  • Don Fullerton
  • Marios Karayannis

Abstract

Tax rules have changed almost yearly in the United States since 1980. In particular, the Economic Recovery Tax Act of 1981 reduced marginal tax rates and shortened depreciation lifetimes, while the Tax Reform Act of 1986 reduced marginal tax rates, repealed the investment tax credit, and lengthened depreciation lifetimes.

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Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 2478.

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Date of creation: Dec 1987
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Publication status: published as Tax Reform and the Cost of Capital: An Internation Comparison, ed. Dale W. Jorgenson and Ralph Landau, Washington DC: The Brookings Institution,p. 333-367, 1993
Handle: RePEc:nbr:nberwo:2478

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  1. Martin Feldstein & Lawrence H. Summers, 1979. "Inflation and the Taxation of Capital Income in the Corporate Sector," NBER Working Papers 0312, National Bureau of Economic Research, Inc.
  2. Alan J. Auerbach, 1980. "Wealth Maximization and the Cost of Capital," NBER Working Papers 0254, National Bureau of Economic Research, Inc.
  3. Alan J. Auerbach, 1983. "The Dynamic Effects of Tax Law Asymmetries," NBER Working Papers 1152, National Bureau of Economic Research, Inc.
  4. Daniel R. Feenberg & Harvey S. Rosen, 1983. "Alternative Tax Treatments of the Family: Simulation Methodology and Results," NBER Chapters, in: Behavioral Simulation Methods in Tax Policy Analysis, pages 7-46 National Bureau of Economic Research, Inc.
  5. Bradford, David F., 1981. "The incidence and allocation effects of a tax on corporate distributions," Journal of Public Economics, Elsevier, vol. 15(1), pages 1-22, February.
  6. Mayer, Colin, 1986. "Corporation Tax, Finance and the Cost of Capital," Review of Economic Studies, Wiley Blackwell, vol. 53(1), pages 93-112, January.
  7. Mervyn A. King & Don Fullerton, 1983. "The Taxation of Income from Capital: A Comparative Study of the U.S., U.K., Sweden, and West Germany--The Theoretical Framework--," NBER Working Papers 1058, National Bureau of Economic Research, Inc.
  8. Auerbach, Alan J & King, Mervyn A, 1983. "Taxation, Portfolio Choice, and Debt-Equity Ratios: A General Equilibrium Model," The Quarterly Journal of Economics, MIT Press, vol. 98(4), pages 587-609, November.
  9. Don Fullerton, 1983. "Which Effective Tax Rate?," NBER Working Papers 1123, National Bureau of Economic Research, Inc.
  10. Shoven, John B, 1976. "The Incidence and Efficiency Effects of Taxes on Income from Capital," Journal of Political Economy, University of Chicago Press, vol. 84(6), pages 1261-83, December.
  11. Miller, Merton H, 1977. "Debt and Taxes," Journal of Finance, American Finance Association, vol. 32(2), pages 261-75, May.
  12. Fullerton, Don, 1987. "The indexation of interest, depreciation, and capital gains and tax reform in the United States," Journal of Public Economics, Elsevier, vol. 32(1), pages 25-51, February.
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Cited by:
  1. Alessie, R.J.M. & Hochgürtel, S. & Soest, A.H.O. van, 2000. "Household Portfolios in the Netherlands," Discussion Paper 2000-55, Tilburg University, Center for Economic Research.
  2. Devereux, Michael P & Lockwood, Ben & Redoano, Michela, 2002. "Do Countries Compete Over Corporate Tax Rates?," The Warwick Economics Research Paper Series (TWERPS) 642, University of Warwick, Department of Economics.
  3. Jonathan S. Skinner, 1986. "The Welfare Cost of Uncertain Tax Policy," NBER Working Papers 1947, National Bureau of Economic Research, Inc.
  4. Rob Alessie & Stefan Hochguertel & Arthur van Soest, 2001. "Non-take-up of Tax-favored Savings Plans: Are Household Portfolios Optimal?," Tinbergen Institute Discussion Papers 01-122/3, Tinbergen Institute.
  5. Joel B. Slemrod, 1990. "Tax Effects on Foreign Direct Investment in the United States: Evidence from a Cross-Country Comparison," NBER Chapters, in: Taxation in the Global Economy, pages 79-122 National Bureau of Economic Research, Inc.
  6. James Berkovec & Don Fullerton, 1993. "A General Equilibrium Model of Housing, Taxes, and Portfolio Choice," NBER Working Papers 3505, National Bureau of Economic Research, Inc.
  7. Don Fullerton, 1994. "Inputs to Tax Policymaking: The Supply Side, the Deficit, and the Level Playing Field," NBER Working Papers 3507, National Bureau of Economic Research, Inc.

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