Indexing Capital Gains

A CONSENSUS has emerged among centrist economists that realized capital gains, before they are taxed, should be indexed for inflation in order to exclude phantom gains. Indexing means multiplying the historical cost, or tax “basis,” of the asset by a price index before subtracting it from sales price. This, apparently reasonable proposal is, in fact, partial and dicriminatory. All assets, . . . → Read More: Indexing Capital Gains

Taxes, Capital and Jobs

We hear a lot these days about the need for more capital to make jobs. Some of what we hear and read we may discount as self-serving, lobbying for more preferential tax treatment of profits. Yet there is a case argued by sincere and public-minded people on objective grounds which we must take seriously.
It had better be a good . . . → Read More: Taxes, Capital and Jobs

Time, Taxes, Turnover and Intensity

A reply to comment by Henry Goldstein and Procter Thomson on my “Tax-induced Slow Turnover of Capital,” published in Western Economic J. WEJ editors returned it for shortening. Meantime Anthony Chisholm replied on my behalf, using some of this material. I have incorporated it into  to be polished . . . → Read More: Time, Taxes, Turnover and Intensity

Coordinating Tax Incentive and Public Policy: The Treatment of Land Income

This paper is an effort to pull together a systematic outline of one set of accumulated tax outrages, those bearing on land. I follow press releases, and scholarly and treasury and commission and task force – releases on the subject witha growing impression of incompleteness, of a ..tendqncy to 6ettle on one or two points as the major abuses to . . . → Read More: Coordinating Tax Incentive and Public Policy: The Treatment of Land Income