Journal Article

Eric Toder and Alan Viard address corporate tax avoidance in the U.S. and suggest taxing shareholders at a higher rate would prevent companies from shifting their profits abroad.

November 1, 2016
Eric ToderAlan Viard
Journal Article

We propose reducing the corporate tax rate to 15 percent and replacing the foregone revenue with a tax at ordinary income rates on the accrued, or mark-to-market, income of American shareholders of publicly traded corporations, accompanied by an imputation credit for U.S. corporate income taxes...

September 1, 2016
Eric ToderAlan Viard
Journal Article

In this report, Rosenthal and Austin demonstrate that the share of U.S. stocks held by taxable accounts has declined sharply over the last 50 years, and they urge lawmakers to carefully consider this shareholder base erosion when determining how best to tax corporate earnings.

May 16, 2016
Steven M. RosenthalLydia Austin
Journal Article

Looking specifically at taxes, Brookings Senior Fellow William Gale and Research Assistant Aaron Krupkin write that the U.S. does not have a good tax system that raises the revenues needed “to finance government spending in a manner that is as simple, equitable, and growth-friendly as possible...

November 25, 2015
William G. GaleAaron Krupkin
Journal Article

We explore issues related to a financial transaction tax (FTT) in the United States. We trace the history and current practice of the tax in the United States and other countries, review evidence of its impact on financial markets, and explore the key design issues any such tax must address. We...

February 26, 2016
Leonard E. BurmanWilliam G. GaleSarah GaultBryan KimJames R. NunnsSteven M. Rosenthal
Journal Article

Private equity has grown exponentially: it now controls and operates a large number of the companies in our economy. But private equity is just that: private. Its operations are confidential and difficult to parse. This article attempts to demystify the business of private equity. It also...

September 24, 2013
Steven M. Rosenthal
Journal Article

In a recent Tax Notes article, Shay argued that Treasury could write regulations to reduce the tax incentives for U.S. corporations to expatriate. Rosenthal agrees with Shay and analyzes the legal support for regulations under section 385.

September 30, 2014
Steven M. Rosenthal
Journal Article

Stockbrokers began reporting sales proceeds and cost basis to the IRS and taxpayers this year. This article describes how those information reports came about and discusses the issues they raise. It also argues that compliance gains and simplification benefits justify the reporting burdens that...

April 25, 2012
Steven M. Rosenthal
Journal Article

Tax policies in the U.S. increase the incentive to donate to charity among those who itemize their deductions, and most of the tax revenue cost goes to subsidize donations made by relatively high-income people. Several types of empirical evidence which I review here suggest that the donation...

June 17, 2013
Jon M. Bakija
Journal Article

Distributional analysis has long been a central element in discussions of tax policy. However, standard methods of estimating the distributional effects of tax changes omit two potentially important factors: the financing of the tax changes, and the implications of behavioral responses for...

July 8, 2008
Eliza Krigman