Income Mobility in the United States: New Evidence from Income Tax Data

2009 ◽  
Vol 62 (2) ◽  
pp. 301-328 ◽  
Author(s):  
Gerald Auten ◽  
Geoffrey Gee
Keyword(s):  
United States ◽  
Income Tax ◽  
The United States ◽  
Income Mobility ◽  
New Evidence

Income Inequality, Mobility, and Turnover at the Top in the US, 1987–2010

2013 ◽  
Vol 103 (3) ◽  
pp. 168-172 ◽  
Author(s):  
Gerald Auten ◽  
Geoffrey Gee ◽  
Nicholas Turner
Keyword(s):  
United States ◽  
Income Inequality ◽  
Income Tax ◽  
The United States ◽  
Cross Sectional ◽  
Income Groups ◽  
The Us ◽  
New Evidence ◽  
Over Time

While cross-sectional data show increasing income inequality in the United States, it is also important to examine how incomes change over time. Using income tax data, this paper provides new evidence on long-term and intergenerational mobility, and persistence at the top of the income distribution. Half of those aged 35-40 in the top or bottom quintile in 1987 remain there in 2007; the others have moved up or down. While 30 percent of dependents aged 15-18 from bottom quintile households are themselves in the bottom quintile after 20 years, most have moved up. Persistence is lower in the highest income groups.

Lending to the Borrower from Hell

2017 ◽  
Author(s):  
Mauricio Drelichman ◽  
Hans-Joachim Voth
Keyword(s):  
United States ◽  
Sixteenth Century ◽  
Sovereign Debt ◽  
Risk Sharing ◽  
The United States ◽  
Philip Ii ◽  
Loan Contracts ◽  
The Right ◽  
Intelligent Model ◽  
New Evidence

Why do lenders time and again loan money to sovereign borrowers who promptly go bankrupt? When can this type of lending work? As the United States and many European nations struggle with mountains of debt, historical precedents can offer valuable insights. This book looks at one famous case—the debts and defaults of Philip II of Spain. Ruling over one of the largest and most powerful empires in history, King Philip defaulted four times. Yet he never lost access to capital markets and could borrow again within a year or two of each default. Exploring the shrewd reasoning of the lenders who continued to offer money, the book analyzes the lessons from this historical example. Using detailed new evidence collected from sixteenth-century archives, the book examines the incentives and returns of lenders. It provides powerful evidence that in the right situations, lenders not only survive despite defaults—they thrive. It also demonstrates that debt markets cope well, despite massive fluctuations in expenditure and revenue, when lending functions like insurance. The book unearths unique sixteenth-century loan contracts that offered highly effective risk sharing between the king and his lenders, with payment obligations reduced in bad times. A fascinating story of finance and empire, this book offers an intelligent model for keeping economies safe in times of sovereign debt crises and defaults.

The Income Tax in Great Britain and the United States.

1927 ◽  
Vol 37 (148) ◽  
pp. 637
Author(s):  
J. Sykes ◽  
Harrison B. Spaulding
Keyword(s):  
United States ◽  
Great Britain ◽  
Income Tax ◽  
The United States

Do National Service Programs Improve Subjective Well-Being in Communities?

2018 ◽  
Vol 49 (3) ◽  
pp. 275-291 ◽  
Author(s):  
Kristopher Velasco ◽  
Pamela Paxton ◽  
Robert W. Ressler ◽  
Inbar Weiss ◽  
Lilla Pivnick
Keyword(s):  
United States ◽  
Well Being ◽  
The United States ◽  
Change Score ◽  
National Service ◽  
Subjective Well Being ◽  
Community Effects ◽  
Service Programs ◽  
Open Question ◽  
New Evidence

Since the creation of Volunteers in Service to America (VISTA) in 1964 and AmeriCorps in 1993, a stated goal of national service programs has been to strengthen the overall health of communities across the United States. But whether national service programs have such community effects remains an open question. Using longitudinal cross-lagged panel and change-score models from 2005 to 2013, this study explores whether communities with national service programs exhibit greater subjective well-being. We use novel measures of subjective well-being derived from tweeted expressions of emotions, engagement, and relationships in 1,347 U.S. counties. Results show that national service programs improve subjective well-being primarily by mitigating threats to well-being and communities that exhibit more engagement are better able to attract national service programs. Although limited in size, these persistent effects are robust to multiple threats to inference and provide important new evidence on how national service improves communities in the United States.

scholarly journals Income Tax Complexity Faced by Multinational Corporations: A Comparative Study of Canada, the United States, and Other Selected OECD Countries

2021 ◽  
Vol 69 (3) ◽  
pp. 745-790
Author(s):  
Susann Sturm
Keyword(s):  
United States ◽  
Multinational Corporations ◽  
Income Tax ◽  
Transfer Pricing ◽  
The United States ◽  
Oecd Countries ◽  
The Us ◽  
Tax Complexity ◽  
Medium Level ◽  
Foreign Corporations

This study examines the complexity of Canada's corporate income tax system from the perspective of multinational corporations and compares it with the complexity of the US system, also taking into account measures of complexity for 19 other member countries of the Organisation for Economic Co-operation and Development (OECD). The author finds that with regard to the Canadian tax code, the most complex laws are those on corporate reorganization, transfer pricing, and controlled foreign corporations, and with regard to the Canadian tax framework, the most complex areas are tax audits, tax-law enactment, and tax guidance. In comparison with other OECD countries, Canada is remarkably similar to the United States. Both countries have a medium level of overall complexity, and both have a more complex tax code but a less complex tax framework than other countries. However, a closer examination of the Canadian and US tax codes and tax frameworks reveals some significant differences in complexity levels, particularly in respect of certain tax laws.

scholarly journals The Double Irish and Dutch Sandwich tax strategies: Could a general anti-avoidance rule counteract the problems caused by the utilisation of these structures?

2021 ◽  
Author(s):  
◽  
Danielle Thorne
Keyword(s):  
United States ◽  
Income Tax ◽  
Multinational Enterprises ◽  
Current System ◽  
The United States ◽  
Tax System ◽  
Tax Havens ◽  
Intangible Resources ◽  
And Control ◽  
Tax Structures

<p>This paper analyses the Double Irish and Dutch Sandwich tax structures used by large multinational enterprises. These structures enable companies to shift significant profits to offshore tax havens through the use of wholly owned subsidiaries in Ireland and the Netherlands. Application of the New Zealand General Anti-Avoidance rule in s BG 1 of the Income Tax Act 2007 reveals that any attempt to counteract these structures would be highly fact dependent. The paper concludes that it would be possible to apply the rule, but that there would be practical difficulties in relation to enforceability of the Commissioner’s ruling. A similar result was reached when applying the United States General Anti-Avoidance rule. The attempted application of the General Anti-Avoidance rules reveals a fundamental flaw in the income tax system. That is, the inability of the current system to regulate and control intangible resources and technology based transactions.</p>

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