Corporate Taxation in the US

Alan Auerbach

Chapter 11 in Economic Policy in Theory and Practice, 1987, pp 375-431 from Palgrave Macmillan

Abstract: Abstract The US corporation income tax has been the focus of much criticism and debate during the past decade. Many hold it responsible for the low level of business investment in the US, and it has been criticised as a fundamentally unfair and illogical tax because it taxes corporations as independent entities, regardless of the tax brackets of individual shareholders. Much of the academic discussion in the 1970s about reform of the corporate tax centred on the ‘integration’ of corporate and individual income taxes, to make the corporate ‘tax’ essentially a withholding mechanism for the individual income tax.1 More recently, the emphasis has shifted toward ‘reform’ by repeal, with President Reagan’s call for the abolition of the corporate tax typical of this viewpoint.

Keywords: Depreciation Allowance; Economic Depreciation; Interest Deductibility; Nominal Interest Payment (search for similar items in EconPapers)
Date: 1987
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-18584-9_11

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DOI: 10.1007/978-1-349-18584-9_11

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