Are "Real" Responses to Taxes Simply Income Shifting between Corporate and Personal Tax Bases?
Are "Real" Responses to Taxes Simply Income Shifting between Corporate and Personal Tax Bases?
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对税收的“真正”反应只是企业税基和个人税基之间的收入转移吗？
DOI：
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发表时间：
1998
期刊：
影响因子：
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通讯作者：
J. Slemrod
中科院分区：
文献类型：
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作者：
R. Gordon;J. Slemrod
近几十年来两个众所周知的现象是个人收入日益集中和企业盈利率下降。本文探讨了这两种趋势在多大程度上具有共同的解释——由于个人税率与企业所得税税率之间的差异普遍缩小而导致收入从企业税基转向个人税基。本文提供的证据表明，自 1965 年以来，事实上已经发生了大量的收入转移，基于时间序列回归分析表明，即使在控制了企业债务融资的使用和企业资产数量之后，企业税率相对于个人税率的上升导致了报告的个人收入的增加和报告的企业收入的下降。我们专注于一种转变机制——改变高管和其他员工的薪酬形式，例如工资薪酬和更多地使用股票期权。收入转移的潜在重要性要求重新解释税收结构变化的效率和分配后果。
Two well-noted phenomena of recent decades are the increasing concentration of personal income and the declining rate of corporate profitability. This paper investigates to what extent these two trends have a common explanation extent these two trends have a common explanation-shifting of income to the personal tax base from the corporate tax base caused by the generally declining difference between personal tax rates and corporation income tax rates. This paper presents evidence that a substantial amount of income shifting has in fact occured since 1965, based on time-series regression analyses that reveal that an increase in corporate tax rates relative to personal rates resulted in an increase in reported personal income and a drop in reported corporate income, even after controlling for corproate use of debt finance and for the amount of corporate assets. We focus on one mechanism for shifting--changing the form of compensation for executives and other workers, such as between wage compensation and greater use of stock options. The potential importance of income shifting requires a reinterpretation of both the efficiency and distributional consequences of of changes in the tax structure.