In this working paper, the author examines the economic effects of enacting a proposal by the Biden administration to tax long term capital gains at ordinary income tax rates for those with taxable income above $1 million and tax unrealized gains at the time of death for single (joint) filers with more than $1 million ($2 million) in unrealized gains. A similar version of the report was prepared with the financial support of the Center for Freedom and Prosperity Foundation.

In this background document, the authors provide some information on the choices of key parameter values used in the Diamond-Zodrow model. They focus on parameters involving labor supply, saving, international capital flows and substitution among factors of production.

The authors evaluate Argentina’s energy sector and test the hypothesis that investments in tight oil and shale gas extraction expose investors to fewer risks than extracting conventional oil and gas. This working paper is part of a series titled “The Role of Foreign Direct Investment in Resource-Rich Regions.”

Given that policymakers will eventually need to decide how to resolve the social security program’s projected shortfall, this paper presents a simulation-based approach to evaluating the conventional alternatives of adjustments to benefits or taxes.

The authors construct a tax competition model in which local governments finance business public services with either a source-based tax on mobile capital, such as a property tax, or a tax on production, such as an origin-based value added tax, and then assess which of the two tax instruments is more efficient.

This study attempts to apply a rigorous approach to developing a simple 20-year projection of growth and employment in India. It should provide motivation to the political leadership in state and central governments in India to pursue reforms ambitiously to remove barriers to labor-intensive manufacturing.

Leading U.S. immigration experts, public policy scholars and political figures debate issues and solutions to crucial questions surrounding comprehensive immigration reform.

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Abstract

This policy report will examine how the…

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Abstract

For more than two decades, the U.S…