Tax Reform in Industrial Countries and the Impact of the U.S. Tax Reform Act of 1986

1987 ◽  
Author(s):  
Vito Tanzi
Keyword(s):  
Tax Reform ◽  
Industrial Countries ◽  
The Impact ◽  
The U.S

Tax reform initiated by D. Trump: Economic and social aspects

2021 ◽  
Vol 27 (3) ◽  
pp. 693-720
Author(s):  
Elena Yu. MAKUSHINA ◽  
Dar'ya M. KARMANOVA ◽  
Aleksei S. KUCHER
Keyword(s):  
United States ◽  
Policy Development ◽  
Tax Reform ◽  
The United States ◽  
Subsequent Increase ◽  
Tax Revenues ◽  
Long Run ◽  
Macroeconomic Indicators ◽  
The Impact ◽  
The U.S

Subject. The article addresses the tax reform of 2017, initiated by D. Trump. Objectives. The aim is to determine the relationship between the total volume of tax revenues to the budget of the U.S. Government and the growth of U.S. GDP in the long run. Methods. To identify the impact of the tax reform on the investment climate in the country and the subsequent GDP growth, we formulate a hypothesis and propose a regression model. The quarterly data from 04.01.1960 to 07.01.2019 serve as a statistical sampling, published by financial departments of the U.S. Office of Management and Budget and the U.S. Bureau of Economic Analysis. The study rests on the econometric analysis enabling to identify the impact of the volume of tax revenues from the corporate income tax and individual income taxes on the level of the GDP of the United States. Results. In the short term, we observe a decrease in tax revenues and a subsequent increase in the budget deficit, in the long term – an increase in business activity of the country, a growth in foreign direct investment, and, consequently, an increase in the GDP. The paper offers a model for assessing the economic growth of the GDP of the United States, in which tax predictors were used in combination with macroeconomic indicators. Conclusions. The experience of the United States and the results of this study may be used by the governments of developing countries and experts in the field of taxation for tax policy development.

scholarly journals The Smoot-Hawley Tariff Act of the 1930 as the classic example of a near-sided economic policy of the U.S. government during the Great Depression

2021 ◽  
pp. 22-38
Author(s):  
Alexander Vasilyev
Keyword(s):  
United States ◽  
Great Depression ◽  
Tax Reform ◽  
The United States ◽  
Negative Consequences ◽  
Protection Measures ◽  
The Great Depression ◽  
History Of ◽  
The Impact ◽  
The U.S

The object of this research is the antirecession policy of the United States during the Great Depression. The subject of this research The Smoot-Hawley Tariff Act, process of its adoption, and consequences. Special attention is given to the history of increase of tariffs on imported goods. The legislative bill drafted by congressmen R. Smoot and W. Hawley is considered one of the unsuccessful economic reforms in the history of the United States. The tax reform was conceived before the recession and was called to protect local farmers from excess of cheap foreign agricultural products on American markets. However, there was no substantial benefit from the increased tariffs on imports. Most historians find that this measure worsened the position of the lower classes of the population. There is also an opposing opinion that the legislation did not play a serious role in deepening of the recession. The article analyzes the extent of the impact of this legislation in the U.S. during the 1930s. The scientific novelty of this research consists in utilization of the transcripts of addresses of the members of U.S. Congress as the sources for research of the process of passing the legislation, as well as press materials in order to examine opinions on the legislative bill and consequences of increased tariffs. It is established that the adoption of the Smoot-Hawley Tariff Act had negative consequences for the economy, although not as severe as commonly cited. The impact of the new law was not as substantial on the background of the ongoing Great Depression. Passing of the protection measures took place almost simultaneously with other countries, with some countries raising the tariffs before the United States. The tax reform greatly affected the political situation in the United States, playing its role in diminishing the ratings of the President and the Republican Party. 

PENGARUH FAMILY OWNERSHIP, PERUBAHAN TARIF PAJAK DAN KEBIJAKAN HUTANG TERHADAP NILAI PERUSAHAAN

2017 ◽  
Vol 9 (2) ◽  
Author(s):  
Elfina Astrella Sambuaga
Keyword(s):  
Ownership Structure ◽  
Tax Reform ◽  
Stock Exchange ◽  
Family Ownership ◽  
Corporate Debt ◽  
Tax Rates ◽  
Manufacturing Companies ◽  
The Impact ◽  
The Relationship ◽  
Debt Policy

<p>This study aims to provide empirical evidence related to the influence of family ownership, tax reform on corporate debt policy, and further prove the impact on the firm value.This study examined the effect of changes in tax rates in 2009 and 2010 on the relationship between family ownership structure and corporate debt policy. The population of this research is manufacturing companies listed in Indonesia Stock Exchange for 8 consecutive years (2006-2013), with the period of observation for 7 years (2007-2013). A period of 8 years was taken to see a company that is consistently listed on the Stock Exchange prior to the end of the observation period. The result of this study shows that tax reform from progressive tax rates to a flat rate does not affect the relationship between family ownership structure and corporate debt policy. In contrast to the year 2009, changing rate from 28% to 25% in late 2010 was a significant effect on the debt policy with the company of family ownership. Based on the results, it was found that family ownership and debt policy significantly affect the company's enterprise value. It can be concluded, the higher the family ownership, the company's value would be diminished. Instead, the company's value will increase when the company adds to its debt policy.</p><p>Keywords : debt policy, family ownership, firm value, tax reform.</p>

The Impact of Globalization on the U.S. Defense Industrial Base

2013 ◽  
Author(s):  
Jacques S. Gansler ◽  
William Lucyshyn ◽  
John Rigilano
Keyword(s):  
Industrial Base ◽  
The Impact ◽  
The U.S
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