President Obama just announced at a press conference that he has directed Treasury Secretary Jack Lew to demand the resignation of the Acting IRS Commissioner, Steven Miller. CNN then obtained Miller's resignation letter...
- Taxes and Foreign Acquisitions in the United States
Taxes and Foreign Acquisitions in the United States
Special Academic Report
Executive Summary We test the hypothesis that the Tax Reform Act of 1986 (TRA 86) induced acquisitions of U.S. companies by foreign investors from worldwide tax jurisdictions, principally the United Kingdom and Japan. We find that tax advantages realized post-acquisition by U.K. and Japanese investors are very small relative to the size of the acquisitions. Thus, we conclude that TRA 86 did not significantly enhance the competitive advantage of foreign firms in the U.S. acquisition market.
Professor Martin Feldstein of Harvard has called for limiting the tax savings from itemized deductions, tax-exempt municipal bond interest, and the tax-free status of employer-provided health insurance....
Congress is debating major reforms of the corporate and individual income taxes. One expressed goal of the exercise is to promote economic growth while lowering the deficit. Growth is key. Without it,...
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