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Economics of Tax Law
Taxation has long been the subject of study by both lawyers and economists – pre-dating the law and economics movement – but the gap in the understanding of one another’s methodology appears to have widened over time. This important two-volume set aims to address this gap, presenting a selection of papers which have been carefully chosen by the editor not only for their application of economics to distinctly legal issues in the field of taxation, but also for their use of an economic analysis that is relevant and penetrable for lawyers and legal scholars.
More Information
Critical Acclaim
Contributors
Contents
More Information
Taxation has long been the subject of study by both lawyers and economists – pre-dating the law and economics movement – but the gap in the understanding of one another’s methodology appears to have widened over time. This important two-volume set aims to address this gap, presenting a selection of papers which have been carefully chosen by the editor not only for their application of economics to distinctly legal issues in the field of taxation, but also for their use of an economic analysis that is relevant and penetrable for lawyers and legal scholars.
The collection begins with papers that explore the difference between economic and traditional legal approaches to tax problems. Volume I then focuses on commodity taxation, tax incidence and distribution, progressivity, income taxation, consumption and the choice of tax base. Volume II then turns to more procedural aspects of tax, such as the implementation of the tax base, administration and compliance (including tax shelters), the taxable unit and tax expenditures.
This collection will provide an invaluable reference source for lawyers, economists and any student of tax law.
The collection begins with papers that explore the difference between economic and traditional legal approaches to tax problems. Volume I then focuses on commodity taxation, tax incidence and distribution, progressivity, income taxation, consumption and the choice of tax base. Volume II then turns to more procedural aspects of tax, such as the implementation of the tax base, administration and compliance (including tax shelters), the taxable unit and tax expenditures.
This collection will provide an invaluable reference source for lawyers, economists and any student of tax law.
Critical Acclaim
‘This is an excellent collection that provides a good introduction to some of the key economic issues in tax policy.’
– Daniel N. Shaviro, New York University, US
– Daniel N. Shaviro, New York University, US
Contributors
40 articles, dating from 1967 to 2006
Contributors include: W.D. Andrews, J. Bankman, W. Baumol, B.I. Bittker, D.F. Bradford, M.J. Graetz, L. Kaplow, J. Slemrod, A.C. Warren, S. Yitzhaki
Contributors include: W.D. Andrews, J. Bankman, W. Baumol, B.I. Bittker, D.F. Bradford, M.J. Graetz, L. Kaplow, J. Slemrod, A.C. Warren, S. Yitzhaki
Contents
Contents:
Volume I
Acknowledgements
Introduction David A. Weisbach
PART I TAX NORMS
1. Thomas Griffith (1993), ‘Should “Tax Norms” be Abandoned? Rethinking Tax Policy Analysis and the Taxation of Personal Injury Recoveries’
2. Louis Kaplow (1989), ‘Horizontal Equity: Measures in Search of a Principle’
PART II THE BASIC ECONOMICS OF TAXATION
A Commodity Taxation
3. William J. Baumol and David F. Bradford (1970), ‘Optimal Departures from Marginal Cost Pricing’
4. David A. Weisbach (2000), ‘An Efficiency Analysis of Line Drawing in the Tax Law’
B Incidence and Distribution
5. Michael Graetz (1995), ‘Paint-by-Numbers Tax Lawmaking’
6. Boris I. Bittker (1975), ‘Tax Shelters and Tax Capitalization, or, Does the Early Bird Get a Free Lunch?’
7. Boris I. Bittker (1979), ‘Equity, Efficiency, and Income Tax: Do Misallocations Drive Out Inequities?’
C Progressivity
8. Joseph Bankman and Thomas Griffith (1987), ‘Social Welfare and Rate Structure: A New Look at Progressive Taxation’
9. Joel Slemrod, Shlomo Yizhati, Joram Mayshar and Michael Lundholm (1994), ‘The Optimal Two-Bracket Linear Income Tax’
10. George Akerlof (1978), ‘The Economics of “Tagging” as Applied to the Optimal Income Tax, Welfare Programs, and Manpower Planning’
11. Albert L. Nichols and Richard J. Zeckhauser (1982), ‘Targeting Transfers through Restrictions on Recipients’
D Combining Commodity Taxation and Progressivity
12. Louis Kaplow (2006), ‘On the Undesirability of Commodity Taxation Even When Taxation is Not Optimal’
13. Louis Kaplow (2004), ‘On the (Ir)Relevance of Distribution and Labor Supply Distortion to Government Policy’
PART III THE CHOICE OF THE TAX BASE – THEORY
A What is Income Taxation?
14. Louis Kaplow (1994), ‘Taxation and Risk Taking: A General Equilibrium Perspective’
15. Alvin C. Warren, Jr. (1996), ‘How Much Capital Income Taxed Under an Income Tax is Exempt Under a Cash Flow Tax?’
B The Comparison Between Consumption and Income Taxation
16. William D. Andrews (1974), ‘A Consumption-Type or Cash Flow Personal Income Tax’
17. Alvin C. Warren (1980), ‘Would a Consumption Tax be Fairer Than an Income Tax?’
18. Joseph Bankman and David A. Weisbach (2006), ‘The Superiority of an Ideal Consumption Tax Over an Ideal Income Tax’
C Changing Tax Bases
19. Michael J. Graetz (1977), ‘Legal Transitions: The Case of Retroactivity in Income Tax Revision’
20. David F. Bradford (1996), ‘Consumption Taxes: Some Fundamental Transition Issues’
21. David F. Bradford (1998), ‘Transition to and Tax-Rate Flexibility in a Cash-Flow-Type Tax’
Name Index
Volume II
Acknowledgements
Introduction David A. Weisbach
PART I THE CHOICE OF THE TAX BASE – IMPLEMENTATION
A Implementing a Consumption Tax
1. David A. Weisbach (2000), ‘Ironing Out the Flat Tax’
2. Harry Grubert and T. Scott Newlon (1995), ‘The International Implications of Consumption Tax Proposals’
B Implementing a Tax on Capital Income
3. William D. Andrews (1983), ‘The Achilles’ Heel of the Comprehensive Income Tax’
4. Alan J. Auerbach and David F. Bradford (2004), ‘Generalized Cash-Flow Taxation’
5. Daniel I. Halperin (1985), ‘Interest in Disguise: Taxing the “Time Value of Money”’
6. Alvin C. Warren (1993), ‘Financial Contract Innovation and Income Tax Policy’
7. Noel Cunningham and Deborah Schenk (1993), ‘The Case for a Capital Gains Preference’
PART II ADMINISTRATION AND COMPLIANCE
A In General
8. Michael G. Allingham and Agnar Sandmo (1972), ‘Income Tax Evasion: A Theoretical Analysis’
9. Shlomo Yitzhaki (1974), ‘A Note on Income Tax Evasion: A Theoretical Analysis’
10. Shlomo Yitzhaki (1979), ‘A Note on Optimal Taxation and Administrative Costs’
11. Joel Slemrod and Shlomo Yitzhaki (1996), ‘The Cost of Taxation and the Marginal Efficiency Costs of Funds’
12. Joel Slemrod and Wojciech Kopczuk (2002), ‘The Optimal Elasticity of Taxable Income’
B Shelters
13. Joseph Bankman (1999), ‘The New Market in Corporate Tax Shelters’
14. David A. Weisbach (1999), ‘Formalism in the Tax Law’
PART III THE TAXABLE UNIT
15. Boris I. Bittker (1975), ‘Federal Income Taxation and the Family’
16. Edward J. McCaffrey (1993), ‘Taxation and the Family: A Fresh Look at Behavioral Gender Biases in the Code’
PART IV TAX EXPENDITURES
17. Stanley S. Surrey (1970), ‘Tax Incentives as a Device for Implementing Government Policy: A Comparison with Direct Expenditures’
18. Boris I. Bittker (1967), ‘A “Comprehensive Tax Base” as a Goal of Income Tax Reform’
19. Anne L. Alstott (1995), ‘The Earned Income Tax Credit and the Limitations of Tax-Based Welfare Reform’
Name Index
Volume I
Acknowledgements
Introduction David A. Weisbach
PART I TAX NORMS
1. Thomas Griffith (1993), ‘Should “Tax Norms” be Abandoned? Rethinking Tax Policy Analysis and the Taxation of Personal Injury Recoveries’
2. Louis Kaplow (1989), ‘Horizontal Equity: Measures in Search of a Principle’
PART II THE BASIC ECONOMICS OF TAXATION
A Commodity Taxation
3. William J. Baumol and David F. Bradford (1970), ‘Optimal Departures from Marginal Cost Pricing’
4. David A. Weisbach (2000), ‘An Efficiency Analysis of Line Drawing in the Tax Law’
B Incidence and Distribution
5. Michael Graetz (1995), ‘Paint-by-Numbers Tax Lawmaking’
6. Boris I. Bittker (1975), ‘Tax Shelters and Tax Capitalization, or, Does the Early Bird Get a Free Lunch?’
7. Boris I. Bittker (1979), ‘Equity, Efficiency, and Income Tax: Do Misallocations Drive Out Inequities?’
C Progressivity
8. Joseph Bankman and Thomas Griffith (1987), ‘Social Welfare and Rate Structure: A New Look at Progressive Taxation’
9. Joel Slemrod, Shlomo Yizhati, Joram Mayshar and Michael Lundholm (1994), ‘The Optimal Two-Bracket Linear Income Tax’
10. George Akerlof (1978), ‘The Economics of “Tagging” as Applied to the Optimal Income Tax, Welfare Programs, and Manpower Planning’
11. Albert L. Nichols and Richard J. Zeckhauser (1982), ‘Targeting Transfers through Restrictions on Recipients’
D Combining Commodity Taxation and Progressivity
12. Louis Kaplow (2006), ‘On the Undesirability of Commodity Taxation Even When Taxation is Not Optimal’
13. Louis Kaplow (2004), ‘On the (Ir)Relevance of Distribution and Labor Supply Distortion to Government Policy’
PART III THE CHOICE OF THE TAX BASE – THEORY
A What is Income Taxation?
14. Louis Kaplow (1994), ‘Taxation and Risk Taking: A General Equilibrium Perspective’
15. Alvin C. Warren, Jr. (1996), ‘How Much Capital Income Taxed Under an Income Tax is Exempt Under a Cash Flow Tax?’
B The Comparison Between Consumption and Income Taxation
16. William D. Andrews (1974), ‘A Consumption-Type or Cash Flow Personal Income Tax’
17. Alvin C. Warren (1980), ‘Would a Consumption Tax be Fairer Than an Income Tax?’
18. Joseph Bankman and David A. Weisbach (2006), ‘The Superiority of an Ideal Consumption Tax Over an Ideal Income Tax’
C Changing Tax Bases
19. Michael J. Graetz (1977), ‘Legal Transitions: The Case of Retroactivity in Income Tax Revision’
20. David F. Bradford (1996), ‘Consumption Taxes: Some Fundamental Transition Issues’
21. David F. Bradford (1998), ‘Transition to and Tax-Rate Flexibility in a Cash-Flow-Type Tax’
Name Index
Volume II
Acknowledgements
Introduction David A. Weisbach
PART I THE CHOICE OF THE TAX BASE – IMPLEMENTATION
A Implementing a Consumption Tax
1. David A. Weisbach (2000), ‘Ironing Out the Flat Tax’
2. Harry Grubert and T. Scott Newlon (1995), ‘The International Implications of Consumption Tax Proposals’
B Implementing a Tax on Capital Income
3. William D. Andrews (1983), ‘The Achilles’ Heel of the Comprehensive Income Tax’
4. Alan J. Auerbach and David F. Bradford (2004), ‘Generalized Cash-Flow Taxation’
5. Daniel I. Halperin (1985), ‘Interest in Disguise: Taxing the “Time Value of Money”’
6. Alvin C. Warren (1993), ‘Financial Contract Innovation and Income Tax Policy’
7. Noel Cunningham and Deborah Schenk (1993), ‘The Case for a Capital Gains Preference’
PART II ADMINISTRATION AND COMPLIANCE
A In General
8. Michael G. Allingham and Agnar Sandmo (1972), ‘Income Tax Evasion: A Theoretical Analysis’
9. Shlomo Yitzhaki (1974), ‘A Note on Income Tax Evasion: A Theoretical Analysis’
10. Shlomo Yitzhaki (1979), ‘A Note on Optimal Taxation and Administrative Costs’
11. Joel Slemrod and Shlomo Yitzhaki (1996), ‘The Cost of Taxation and the Marginal Efficiency Costs of Funds’
12. Joel Slemrod and Wojciech Kopczuk (2002), ‘The Optimal Elasticity of Taxable Income’
B Shelters
13. Joseph Bankman (1999), ‘The New Market in Corporate Tax Shelters’
14. David A. Weisbach (1999), ‘Formalism in the Tax Law’
PART III THE TAXABLE UNIT
15. Boris I. Bittker (1975), ‘Federal Income Taxation and the Family’
16. Edward J. McCaffrey (1993), ‘Taxation and the Family: A Fresh Look at Behavioral Gender Biases in the Code’
PART IV TAX EXPENDITURES
17. Stanley S. Surrey (1970), ‘Tax Incentives as a Device for Implementing Government Policy: A Comparison with Direct Expenditures’
18. Boris I. Bittker (1967), ‘A “Comprehensive Tax Base” as a Goal of Income Tax Reform’
19. Anne L. Alstott (1995), ‘The Earned Income Tax Credit and the Limitations of Tax-Based Welfare Reform’
Name Index
