Because tax policy is a reflection of values, citizens in a democratic society should be concerned with how taxes are collected and spent.

Because tax policy is a reflection of values, citizens in a democratic society should be concerned with how taxes are collected and spent.

ALaffer curve has existed in the international corporate tax sphere since the 1980s.

A Laffer curve has existed in the international corporate tax sphere since the 1980s.

We use earnings forecasts from securities analysts to construct more accurate measures of the fundamentals that affect the expected returns to investment. We find that investment responds significantly -- in both economic and statistical terms -- to our new measures of fundamentals. Our...

Auerbach (1979, 1981) has demonstrated that inflation can lead to large inter-asset distortions, with the negative effects of higher inflation unambiguously declining with asset life. We show that this is true only if depreciation is treated as geometric for tax purposes. When depreciation is...