Taxes, loans, and inflation : how the nation's wealth becomes misallocated / C. Eugene Steuerle.

Format:

Book

Author/Creator:

Steuerle, C. Eugene, 1946-

Series:

Studies of government finance. Second series

Language:

English

Subjects (All):

Capital levy--United States.

Capital levy.

Income tax--Effect of inflation on--United States.

Income tax.

Income tax--Effect of inflation on.

United States.

Loans--United States.

Loans.

Physical Description:

xii, 205 pages : illustrations ; 24 cm.

Place of Publication:

Washington, D.C. : Brookings Institution, [1985]

Summary:

Income from capital receives uneven treatment in both the tax system and the loan markets. This affects almost every investment decision make by the individuals, business, and government and causes major disruptions in the economy. In this book C. Eugene Steuerle shows how the misallocation of capital results from the interaction of tax laws, the operation of the market for loanable funds, and inflation. He first analyzes the taxation of capital income, focusing on the distortions caused by tax arbitrage and on inflation-induced discriminations among both taxpayer and borrowers. The author then applies this analysis to several related issues. He concludes with a reform agenda that calls for the adoption of a broader-based, flatter-rate income tax.

Notes:

Includes bibliographical references and index.

ISBN:

0815781342 :

0815781334

OCLC:

11915532