Has anybody seen any work done on negative wealth effect ie effect on
consumption as wealth/networth goes down? Do positive and negative changes
in wealth have the same magnitude effect on consumption ? Do these effects
kick in with same lag i.e. does a drop in wealth lead to a lower
consumption,
In a message dated 1/13/03 7:33:09 AM, [EMAIL PROTECTED] writes:
Can anyone explain why ordinary Americans are not objecting to tax cuts
(such as dividend tax cuts) that will only favour the top percentiles of the
wealthy ?
Koushik
In absolute terms, the tax cut would favor those with
Can anyone explain why ordinary Americans are not objecting to tax cuts
(such as dividend tax cuts) that will only favour the top percentiles of
the wealthy ?
Koushik
Dividend tax cuts also favor retired folk whose income comes from dividends
and interest.
Some ordinary Americans also
Perhapssome feel the double taxation of corporate profits is
inherently unfair. At least that is my feeling on the
matter.
Lynn
-Original Message-From: Koushik Sekhar
[mailto:[EMAIL PROTECTED]]Sent: Monday, January 13, 2003 6:04
AMTo: [EMAIL PROTECTED]Subject: Tax cuts and
In the 1796 Hylton case the Supreme Court accepted Hamilton's view that
the only direct taxes are the poll tax (a tax on heads, not on voting),
and taxes on real property and slaves constituted direct taxes. Taxes on
other items were indirect. (They didn't use the current distinction that
Koushik Sekhar wrote:
Can anyone explain why ordinary Americans are not objecting to tax
cuts (such as dividend tax cuts) that will only favour the top
percentiles of the wealthy ?
Perhaps because they recognize that to be cut the tax had to have been
imposed in the first place, and they
Howdy,
I have some questions about the dividend tax cut
(elimination). Let's suppose that the elimination of
taxes on dividend income to stock holders is
instituded and it is a complete suprise to the public,
so that no adjustment can take place either in
expectation of it being passed, or after
Koushik Sekhar wrote:
Can anyone explain why ordinary Americans are not objecting to tax
cuts (such as dividend tax cuts) that will only favour the top
percentiles of the wealthy ?
Among other things, this assumes that people's views on tax policy are
driven by self-interest. Most of the
--- john hull [EMAIL PROTECTED] wrote:
If the price of a stock is the PV of the dividend
stream into the future, then should there merely be a
one time jump in the value of a stock as a result?
No.
There is also a supply-side effect from cutting the marginal tax rate, from
less uncertainty
--- john hull [EMAIL PROTECTED] wrote:
Now the suprise tax cut comes into effect. The price
of the stock should jump to P'=(1-0)D/r=D/r. Thus,
there should be merely a one off jump in the share
price by the amount P'-P=[D/r]-[(1-T)D/r]=(D+T)/r.
Mistake #1, (D+T)/r is greater than the price
Classical liberal authors such as Bastiat or Mises teach us that
the costs that matter (or should matter) to people who take decisions
are the opportunity costs of that decision -- i.e.
the relative costs/benefits of the many options open to choice --,
as opposed to accounting costs, that describe
On Mon, Jan 13, 2003 at 01:44:59PM -0800, Fred Foldvary wrote:
There is also a supply-side effect from cutting the marginal tax rate, from
less uncertainty about the company as it shifts to less debt and more
equity, as well as more investor confidence when the profits are sent to
the
Would any company give dividend then?
Wei Dai
--- Wei Dai [EMAIL PROTECTED] wrote:
Cutting taxes on dividends while keeping taxes on capital gains seems to
provide a perverse incentive for companies to retain as little profits as
possible, leading to a higher rate of corporate bankruptcy in the future.
My recollection from reading about
--- Francois-Rene Rideau [EMAIL PROTECTED] wrote:
What is the right technical name for what I call accounting cost?
These are often called explicit costs in contrast to implicit costs.
Fred Foldvary
=
[EMAIL PROTECTED]
Despite what you may read in the press, the overall effect of the
President's previous round of tax cuts was to make the tax system more
progressive, not less progressive. In other words, those with high incomes
end up contributing a higher percentage of tax revenues after the cuts than
they did
Has anybody tested the hypothesis that professors assign easy grades
because it sucks up too much time?
Consider the costs of tough grading - spending more time correcting
papers, extra time spent arguing grades with students and the extra effort
it takes to design challenging tests and
Every advantage which is appropriated, or even under certain
circumstances one which has not been formally appropriated, may have
the effect of stereotyping existing forms of social action.
That is lifted straight from Max Weber's Wirtschaft und Gesellschaft
(Economy and Society) Part One,
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