This paper encompasses multiple sources of inefficiency into a single general equilibrium model of the U.S. tax system. The authors measure interasset distortions using disaggregate calculations of user cost, and intersectoral distortions from the differential treatment of the corporate sector,...

Others have measured the addition to deadweight loss from an increase in an effective capital income tax rate, but there is no single way to raise such a rate. In the authors' general equilibrium model with multiple distortions in the allocation of real resources, they find that an increase in...

In this paper, we evaluate existing tax law as of 1980, President Reagan's tax reform initiatives as enacted in the Economic Recovery Tax Act of 1981 (ERTA) and the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA), as well as other proposals that were not enacted. For each law, we...

Computational general equilibrium models have proven useful in the area of long run analysis of alternative tax policies. A sizable number of studies have been completed which examine policies such as a value-added tax, corporate and personal income tax integration, a consumption or expenditure...

Recent proposals for fundamental tax reform differ in their relative emphasis on interasset, intersectoral, interindustry, and intertemporal distortions. The model in this paper addresses these multiple issues in the design of taxes on capital incomes. It is capable of measuring the net effects...

This paper encompasses multiple sources of inefficiency introduced by the U.S. tax system into a single general equilibrium model. Using disaggregate calculations of user cost, we measure interasset distortions from the differential taxation of many types of assets. Simultaneously, we model the...