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Distributing The Corporate Income Tax: Revised U.S. Treasury Methodology

  • Cronin, Julie Anne
  • Lin, Emily Y.
  • Power, Laura
  • Cooper, Michael
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    The purpose of this analysis is to improve the U.S. Department of the Treasury’s distributional model and methodology by defining new model parameters. We compute the percentage of capital income attributable to normal versus supernormal return, the percentage of normal return attributable to the "cash flow tax" portion of the tax that does not impose a tax burden, and the portion of the burdensome tax on the normal return to capital borne by capital income versus labor income. In summary, 82 percent of the corporate income tax burden is borne by capital income and 18 percent is borne by labor income.

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    Article provided by National Tax Association in its journal National Tax Journal.

    Volume (Year): 66 (2013)
    Issue (Month): 1 (March)
    Pages: 239-62

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    Handle: RePEc:ntj:journl:v:66:y:2013:i:1:p:239-62
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    1. Cooper, Michael G. & Knittel, Matthew J, 2010. "The Implications Of Tax Asymmetry For U.S. Corporations," National Tax Journal, National Tax Association, vol. 63(1), pages 33-61, March.
    2. Mutti, John & Grubert, Harry, 1985. "The taxation of capital income in an open economy: the importance of resident-nonresident tax treatment," Journal of Public Economics, Elsevier, vol. 27(3), pages 291-309, August.
    3. Roger H. Gordon & Laura Kalambokidis & Joel Slemrod, 2003. "Do We Now Collect Any Revenue From Taxing Capital Income?," NBER Working Papers 9477, National Bureau of Economic Research, Inc.
    4. Pechman, Joseph A, 1987. "Tax Reform: Theory and Practice," Journal of Economic Perspectives, American Economic Association, vol. 1(1), pages 11-28, Summer.
    5. Alan J. Auerbach, 2006. "Who Bears the Corporate Tax? A Review of What We Know," NBER Chapters, in: Tax Policy and the Economy, Volume 20, pages 1-40 National Bureau of Economic Research, Inc.
    6. Gordon, Roger H, 1985. "Taxation of Corporate Capital Income: Tax Revenues versus Tax Distortions," The Quarterly Journal of Economics, MIT Press, vol. 100(1), pages 1-27, February.
    7. William M. Gentry & R. Glenn Hubbard, 1996. "Distributional Implications of Introducing a Broad-Based Consumption Tax," NBER Working Papers 5832, National Bureau of Economic Research, Inc.
    8. Auerbach, Alan J., 1993. "Public Finance in Theory and Practice," National Tax Journal, National Tax Association, vol. 46(4), pages 519-26, December.
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