Tax policy

The E/GDP for the United States has sloped steadily downward from 18,000 to 11,000 Btu/. Europe and Japan are typically only half as energy-intensive as the United States. An explanation is that, during their development. Western Europe and Japan were petroleum-poor compared to the United States, so energy use was perceived to imply imports (and risk of supply disruption) and trade deficits. Thus, they adopted tax policies to conseive energy. The United States took the opposite path to stimulate economic growth, domestic oil and gas production was subsidized. 

Tax policy (including excise taxes and income tax provisions) operates in several different ways to affect energy supply and demand, for energy in general and for specific fuels. There is no consensus about the net overall effect on supply and demand, in part because th ese provisions operate in different sectors, in different markets, and sometimes in different directions. 

Hassett, Kevin, andR. Glenn Hubbard. 1996. Tax Policy and Investment. Unpubhshed paper, Federal Reserve Board of Governors and Columbia University Business School. 

Gruber, Johnathan, and Alan Krueger. 1991. The Incidence of Mandated Employer-Provided Insurance Lessons From Workers Compensation Insurance. In Tax Policy and the Economy 5. Edited by James Poterba. Cambridge Massachusetts Institute of Technology Press. 

S. Lazzari, A History of Federal Tax Policy Conventional as Compared to Renewable and Nonconventional Energy Resources, 88-455E, The Library of Congress, Congressional Research Service, Washington, D.C., June 7,1988. 

Single LE, Kramer JL (1996) Tax policy and the location of plants and profits. Journal of Accounting Literature 15 108-142... 

Note, however, that the tax policy that maximizes tax income will not in general be the same as the one that maximizes before-tax profits, hence the interest of the rulers is not in the prosperity pvrseot the bourgeoisie. 

GEORGE TOLLEY is a professor in the Department of Economics and Cochairman of the Resource Analysis Group at the University of Chicago. He is the author of numerous articles and books on benefit-cost analysis. During 1974 and 1975 he was the Deputy Assistant Secretary of Treasury for tax policy. 

Another policy area for activation stands in-between social and tax policies. In comparative terms, the French social protection system is still dominantly funded by social contributions to the level of about 66% of the total bill in 2005 (Barbier and Theret 2004). However, in the 1990s it was agreed that indirect labour costs... 

From the Urban Institute-Brookings Institution Joint Tax Policy Center, information on the 2007 EITC. 

Would a decline in R D or a slowdown in its rate of growth be a bad thing A widely accepted principle is that, left to its own devices, private industry invests too little in R D. The patent system, which offers temporary monopolies over new products, processes, and uses, is built on this principle (366). The monopoly granted by patents allows firms to charge more for inventions than they could without such protection from competition. Other public policies, such as subsidies and tax policies that favor R D, are predicated on the assumption that patents alone are insufficient to bring forth the level of R D that maximizes the general welfare of society. The high direct... 

Federal corporate income tax policy comprises laws and regulations that define income subject to taxation, adjustments to taxable income (deductions), tax rates, and adjustments to tax payments (tax credits and minimum tax payments). Tax code provisions are not just intended to raise revenue they are also structured to provide taxpayers with incentives to spend or invest in desirable ways. Most of these incentives are either deductions from taxable income or credits against tax liability. For example, the tax code contains tax credits to encourage firms to perform more R D and to make the United States competitive with other nations as a place to locate business. Similar tax deductions exist for some R D expenses not eligible for these tax credits. Because each of these provisions reduces the taxes that the Federal Government collects from firms, they are sometimes referred to as tax expenditures (241). While any taxpayer theoretically could take advantage of any of these incentives, in reality many provisions have requirements that preclude their use except by certain types of taxpayers. This review focuses on components of the tax code that either directly affect industrial... 

A common measure of the impact of tax policy on a firm s or industry s operation is the average effective tax rate, the ratio of actual income tax paid to the pretax income of a taxpayer or a group of taxpayers (such as the whole pharmaceutical industry). This measure of tax burden assesses the equity of taxes paid across different kinds of taxpayers or in examinations of corporate profits and profit rates. 

Chapter 8-Federal Tax Policy and Drug Research and Development I 185... 

SOURCE Office of Technology Assessment, 1993. Based on data from 1.S. Loss and A.D. Morgenstern, Pharmaceuticals/Tax Policy A Success fulPuerto Rican Statehood Initiative Will Result in HigherCorporate Tax Rates tor Many Companies (Washington, DC The NatWest Investment Banking Group, 1990). 

Review of the effect of external factors on costs and returns on pharmaceutical R D, including new drug regulation, tax policy, product liability law, direct R D subsidies by the National Institutes of Health (NIH) and other government research bodies, and reimbursement policies (both private and public) for prescription drugs. 

Roseanne Altshuler, Ph. D., Rutgers University, New Brunswick, New Jersey andHenri Chaoul, Ph. D., Columbia University, New York, New York. The Effect of Tax Policy on Returns to R Din the Pharmaceutical Industry A Methodological Review, November 1990. 

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