Public finance and the American economy:
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Boston [u.a.]
Addison-Wesley
2001
|
| Edition: | 2. ed. |
| Series: | The Addison-Wesley series in economics
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XXVII, 615 S. graph. Darst. |
| ISBN: | 0321078152 |
Staff View
MARC
| LEADER | 00000nam a2200000 c 4500 | ||
|---|---|---|---|
| 001 | BV013764716 | ||
| 003 | DE-604 | ||
| 005 | 20010607 | ||
| 007 | t | ||
| 008 | 010607s2001 d||| |||| 00||| eng d | ||
| 020 | |a 0321078152 |9 0-321-07815-2 | ||
| 035 | |a (OCoLC)44594132 | ||
| 035 | |a (DE-599)BVBBV013764716 | ||
| 040 | |a DE-604 |b ger |e rakwb | ||
| 041 | 0 | |a eng | |
| 049 | |a DE-20 |a DE-29 |a DE-11 | ||
| 050 | 0 | |a HJ257.2 | |
| 082 | 0 | |a 336.73 |2 21 | |
| 084 | |a QL 262 |0 (DE-625)141710: |2 rvk | ||
| 100 | 1 | |a Bruce, Neil |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Public finance and the American economy |c Neil Bruce |
| 250 | |a 2. ed. | ||
| 264 | 1 | |a Boston [u.a.] |b Addison-Wesley |c 2001 | |
| 300 | |a XXVII, 615 S. |b graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 490 | 0 | |a The Addison-Wesley series in economics | |
| 650 | 7 | |a Openbare financiën |2 gtt | |
| 650 | 4 | |a Finanzwirtschaft | |
| 650 | 4 | |a Wirtschaftspolitik | |
| 650 | 4 | |a Debts, Public |z United States | |
| 650 | 4 | |a Entitlement spending |z United States | |
| 650 | 4 | |a Finance, Public |z United States | |
| 650 | 4 | |a Fiscal policy |z United States | |
| 650 | 4 | |a Government spending policy |z United States | |
| 650 | 4 | |a Local finance |z United States | |
| 650 | 0 | 7 | |a Finanzwirtschaft |0 (DE-588)4017214-4 |2 gnd |9 rswk-swf |
| 650 | 0 | 7 | |a Finanzwissenschaft |0 (DE-588)4121273-3 |2 gnd |9 rswk-swf |
| 651 | 4 | |a USA | |
| 651 | 4 | |a United States |x Economic policy |y 1993- | |
| 651 | 7 | |a USA |0 (DE-588)4078704-7 |2 gnd |9 rswk-swf | |
| 655 | 7 | |8 1\p |0 (DE-588)4123623-3 |a Lehrbuch |2 gnd-content | |
| 689 | 0 | 0 | |a USA |0 (DE-588)4078704-7 |D g |
| 689 | 0 | 1 | |a Finanzwirtschaft |0 (DE-588)4017214-4 |D s |
| 689 | 0 | |5 DE-604 | |
| 689 | 1 | 0 | |a Finanzwissenschaft |0 (DE-588)4121273-3 |D s |
| 689 | 1 | |8 2\p |5 DE-604 | |
| 856 | 4 | 2 | |m HBZ Datenaustausch |q application/pdf |u http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=009408282&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |3 Inhaltsverzeichnis |
| 999 | |a oai:aleph.bib-bvb.de:BVB01-009408282 | ||
| 883 | 1 | |8 1\p |a cgwrk |d 20201028 |q DE-101 |u https://d-nb.info/provenance/plan#cgwrk | |
| 883 | 1 | |8 2\p |a cgwrk |d 20201028 |q DE-101 |u https://d-nb.info/provenance/plan#cgwrk | |
Record in the Search Index
| _version_ | 1804128583567802368 |
|---|---|
| adam_text | CONTENTS
Preface xxi
PART ONE Introduction 1
CHAPTER 1 Sizing Up the Government 3
WHAT IS THE GOVERNMENT? 4
THE SIZE AND GROWTH
OF GOVERNMENT 5
Government Spending in Other Countries 6
The Growth of Government 7
THE COMPOSITION OF GOVERNMENT
SPENDING 9
Government Spending by Function 9
Government Spending by Jurisdiction 10
A CASE IN POINT 1.1: SHRINKING THE
GOVERNMENT 12
FINANCING GOVERNMENT SPENDING 12
ACCOUNTING FOR GOVERNMENT 16
The Unified Budget 16
The Budget Enforcement Act 17
Budget Surpluses and the Solvency
of Social Security 18
Governing Without Spending 19
Tax Expenditures 19
Loans and Loan Guarantees 20
Regulations and Mandates 21
A CASE IN POINT 1.2: IS THE GOVERNMENT
INSOLVENT ? 23
Conclusion and Summary 24
Questions for Discussion and Review 24
Selected References 25
Useful Internet Sites 26
PART TWO Government and the Allocation
of Resources 27
CHAPTER 2 Markets, Efficiency, and Government 29
THE PURPOSE OF NORMATIVE
ECONOMICS 30
viii Contents
THE EFFICIENT ECONOMY 31
Economic Efficiency and Pareto s Criterion 31
Marginal and Total Willingness to Pay 32
Conditions for Economic Efficiency 34
Measuring the Cost of Inefficiency 36
MARKET SUCCESS AND MARKET FAILURE 38
Adam Smith s Invisible Hand 38
A CASE IN POINT 2.1 :THE DEADWEIGHT LOSS OF CHRISTMAS 39
Market Failure and the Function of Government 40
Natural Monopoly 41
Public Goods 43
Market Externalities 43
Insurance Market Failure 44
ADVANCED ISSUES IN ECONOMIC EFFICIENCY 44
Illustrating Efficiency and Equity Choices 44
A CASE IN POINT 2.2: MARKET FAILURE AND ORPHAN DRUGS 46
In Search of the Second Best 48
Conclusion and Summary 49
Questions for Discussion and Review 51
Selected References 52
Appendix to chapter 2: Illustrating Economic Efficiency with the Box
Diagram 52
CHAPTER 3 Public Goods in Theory and Practice 56
NONRIVAL AND NONEXCLUDABLE GOODS 56
EFFICIENT OUTPUT OF A PUBLIC GOOD 57
An Illustration: Planning a Party 57
Comparing Efficiency Conditions for Public and Private Goods 59
MARKET FAILURE WITH PUBLIC GOODS 62
Nonexcludability and the Free Rider Problem 62
The Private Provision of Public Goods 64
Problems in Providing Public Goods 67
MIXED PUBLIC GOODS 68
Excludable Public Goods 69
Congestible Public Goods 70
Local Public Goods 71
APPLICATIONS OF PUBLIC GOODS THEORY 72
Defense Spending in the United States 72
Does the United States Spend Too Much on National Defense? 73
Roads and Highways 75
A CASE IN POINT 3.1: DEFENSE SPENDING BY COUNTRIES
IN AN ALLIANCE 76
Efficient Road Prices with Electronic Toll Collection (ETC) 78
Technology Policy: Patents Versus Government R D Spending 80
A CASE IN POINT 3.2: ETC ON A CALIFORNIA HIGHWAY 81
Conclusion and Summary 82
Questions for Discussion and Review 83
Selected References 84
Contents ix
Useful Internet Sites 85
Appendix to chapter 3: Efficiency conditions in a production economy with
a public good 85
CHAPTER 4 Externalities and Public Policy 88
TYPES OF EXTERNALITIES 88
Cost and Benefit Externalities 89
Consumption and Production Exemalities 89
Network Externalities 90
EXTERNALITIES AND THE EFFICIENCY OF MARKETS 90
Relevant and Irrelevant Externalities 94
EXTERNALITIES AND PROPERTY RIGHTS 96
The Tragedy of the Commons 96
The Reciprocal Nature of Externalities 98
Bargaining and the Coase Theorem 99
ENVIRONMENTAL POLLUTION AS A COST EXTERNALITY 100
A CASE IN POINT 4.1: COASE GOES TO HOLLYWOOD 100
GOVERNMENT POLICIES FOR CONTROLLING EXTERNALITIES 103
Command and Control Policies 104
Variable and Tradable Permits 105
Effluent Charges and Corrective Taxes 108
A CASE IN POINT4.2: POLLUTING FOR A PRICE:
HOW WELL DOES IT WORK? 109
Assigning Property Rights 112
Conclusion and Summary 114
Questions for Discussion and Review 115
Selected References 117
Useful Internet Sites 117
PART T H R E E Government Decision Making 119
CHAPTER 5 Voting and Public Choice 121
HOW VOTERS DECIDE 122
Voting One s Pocketbook 123
Multiple Peaked Preferences 125
Are Voters Apathetic or Rational? 127
THE OUTCOME OF DIRECT MAJORITY VOTING 128
The Voting Paradox 128
Implications of the Voting Paradox 130
Reasons for the Voting Paradox 131
The Median Voter Theory 131
A CASE IN POINT 5.1: CYCLICAL MAJORITIES
AND COALITION BUSTING 132
The Concept of the Median Voter 132
The Median Voter Theorem and Economic Efficiency 133
OTHER VOTING RULES 136
CHOOSING A VOTING RULE 137
Arrow s Possibilities Theorem 137
x Contents
Is the Majority Voting Rule a Happy Median ? 138
The Lindahl Equilibrium 139
A Method for Learning Voters Preferences 140
Registering the Dimensions of Voters Preferences 141
VOTING FOR REPRESENTATIVES 144
Politicians as Vote Seekers 145
Political Action Committees 148
A CASE IN POINT 5.1 :THE ART OF BUYING VOTES:
PORK BARREL POLITICS 149
BUREAUCRACY AND THE SUPPLY SIDE OF GOVERNMENT 150
Bureaucrats as Budget Maximizers 151
The Inefficiency of the Government Bureaucracy 153
Conclusion and Summary 155
Questions for Discussion and Review 157
Selected References 158
Useful Internet Sites 158
CHAPTER 6 Evaluating Programs Using Benefit Cost Analysis 159
SIX STEPS IN BENEFIT COST ANALYSIS 160
Identify Objectives and Alternatives 160
Identify Inputs and Outputs 160
Value the Inputs and Outputs atTheir Shadow Prices 161
Discount Benefits and Costs Occurring in the Future 161
Calculate Net Present Value 162
Deal with Limited Information 162
MEASURING ECONOMIC BENEFITS AND COSTS 162
Treatments of Transfers 162
Measuring Economic Benefits Using Willingness to Pay 163
Measuring Economic Cost Using Marginal Opportunity Cost 164
Weighing Benefits and Costs to Different People 166
The Compensation Principle: A Dollar Is a Dollar 166
The Use of Distributional Weights 16 7
A CASE IN POINT 6.1: THE BENEFITS TO THE URBAN WATER SUPPLY
FROM THE CENTRAL ARIZONA PROJECT 168
DETERMINING THE SHADOW PRICES USED
IN BENEFIT COST ANALYSIS 169
Shadow Prices of Goods and Services Exchanged in Markets 170
Adjusting for Market Distortions 170
The Shadow Wage 171
Shadow Prices of Intangibles 171
The Hedonic Method 172
The Travel Cost Method 172
The Contingent Valuation Method 174
An Application of Valuing Nonmarket Goods:
The Value of a Life 175
DECISION CRITERIA USED IN BENEFIT COST ANALYSIS 177
Discounting and Present Value 177
A CASE IN POINT 6.2: BENEFITS AND COSTS OF TESTING
DONATED BLOOD FOR HIV 178
Contents xi
Social Discount Rate 179
Net Present Value Criterion 181
Other Benefit Cost Criteria 183
Benefit Cost Ratio 183
Internal Rate of Return 183
Choosing Among Alternative Projects 184
Uncertainty and Limited Information 185
Limits on Information 186
The Cost of Risk 186
PUTTING ITTOGETHER:THETELLICO DAM PROJECT 187
Conclusion and Summary 189
Questions for Discussion and Review 190
Selected References 191
Useful Internet Sites 191
PART FOUR Government Transfer Programs 193
CHAPTER 7 Government and the Distribution of Income 195
THE FACTS OF THE DISTRIBUTION OF INCOME 195
Measuring Inequality in the Size Distribution of Income 196
The Lorenz Curve 197
The CM Ratio 198
Is Income Inequality Increasing in the United States? 198
Interpreting the U.S. Distributional Facts 200
Unequal Incomes and Unequal Opportunities 200
Alternative Measures of Inequality 202
Comparisons of Income Inequality Across Countries 205
A CASE IN POINT 7.1: DO CENSUS DATA EXAGGERATE
INEQUALITY? 206
REASONS FOR GOVERNMENT REDISTRIBUTION 206
Efficiency Improving Redistribution 207
The Public Good Argument 207
The Social Insurance Argument 209
Equity Improving Redistribution 212
Principles of Equity 212
Equity and the Social Welfare Function 213
The Distributional Weights Approach 216
Edgeworth s Optimal Distribution of Income 21 7
A CASE IN POINT 7.2: THE MARGINAL COST
OF REDISTRIBUTING INCOME 218
The Equity Efficiency Trade off 219
Conclusion and Summary 219
Questions for Discussion and Review 221
Selected References 222
Useful Internet Sites 223
CHAPTER 8 Spending on Programs to Alleviate Poverty 224
MEASURING POVERTY 225
The Official Poverty Threshold 225
xii Contents
The Incidence of Poverty 226
Alternative Definitions of Poverty 227
MEANS TESTED GOVERNMENTTRANSFER PROGRAMS 229
Means Tested Cash Transfers 230
Temporary Assistance for Needy Families (TANF) 231
Supplemental Security Income 233
Earned Income Tax Credit 233
Means Tested In Kind Tranfers 234
Medicaid 234
The Food Stamp Program 235
A CASE IN POINT 8.1: HOW MUCH WILL IT COST
TOINSURETHEPOOR? 236
Housing and Other in Kind Benefits 237
THE IMPACT OF MEANS TESTED TRANSFERS ON RECIPIENTS 237
The Impact on Work 237
The Impact of TANF 239
The Impact of the EITC 241
The Effects of Welfare on Family Structure 242
The Impact of In Kind Versus Cash Transfers 244
When Is a Transfer In Kind Equivalent to Cash? 244
Why In Kind Transfers? 247
A CASE IN POINT 8.2: WELFARE REFORM: HAS IT HELPED
OR HURT? 248
Conclusion and Summary 249
Questions for Discussion and Review 250
Selected References 252
Useful Internet Sites 252
CHAPTER 9 Social Security and Medicare 253
WHY SOCIAL INSURANCE?
SOCIAL SECURITY:THE NATION S BIGGEST
GOVERNMENT PROGRAM 255
A Brief History of Social Security in the United States 255
The Social Security Benefits Structure 257
Calculating the Benefit for a Retired Worker 258
The Distributional Impact of Social Security 258
Financing Social Security 262
Funded Versus Pay As You Go Programs 262
Economic Effects of Social Security 265
Effects on Retirement and Labor Supply 265
Effects on National Saving 267
Evaluating Social Security 270
Demographic Events and Pay As You Go Social Security 271
Should Social Security Be Reformed? 2 73
What Are the Options? 274
A CASE IN POINT 9.1: PRIVATIZING SOCIAL SECURITY IN CHILE 278
MEDICARE FOR THE AGED 279
The Role of Government in Health Care 280
The Structure of the Medicare Programs 282
Contents xiii
Traditional Medicare 282
Medicare + Choice Plans 283
Economic Issues 283
Government Cost Cutting Policies 284
Are Cost Cutting Policies justified? 285
Medicare Reform 287
A CASE IN POINT 9.2: CANADA S SINGLE PAYER NATIONAL
HEALTH CARE SYSTEM 288
Conclusion and Summary 289
Questions for Discussion and Review 290
Selected Reference 292
Useful Internet Sites 292
PART FIVE The Basic Theory of Taxation 293
CHAPTER 10 Taxation and the Allocation of Resources 295
WHAT IS A TAX? 295
CLASSIFYING TAXES 296
Taxes Classified According to Who Pays Them 297
Taxes Classified According to Economic Activity 297
Excise Taxes Levied by the U.S Government 299
THE IMPACT OF TAXES ON INDIVIDUALS DECISIONS 301
Impact of Taxes on Consumers Decisions 301
Impact of a Lump Sum Tax 302
Impact of an Excise Tax 303
Impact of a Tax on Firms Decisions 307
THE EFFECT OF AN EXCISE TAX ON MARKET OUTCOMES 307
Tax Equivalence 310
A CASE IN POINT 10.1: THE SUPREME COURT AND TAX
EQUIVALENCE 312
Who Pays the Tax The Buyer or the Seller? 312
Price Setting Behavior and the Impact of a Tax 315
The Relationship Between Tax Rates and Tax Revenues 318
A CASE IN POINT 10.2:THE ECONOMICS OF TAXING TOBACCO 320
Conclusion and Summary 321
Questions for Discussion and Review 322
Selected References 324
Useful internet sites 324
CHAPTER 11 Tax Incidence: Who Bears the Tax Burden? 325
DIFFERENT MEASURES OF TAX INCIDENCE 325
Analysis of Statutory Versus Economic Incidence 326
Analysis of Absolute and Differential Incidence 326
THE PEOPLE WHO BEAR THE TAX BURDEN 327
Tax Incidence by Income Group 328
Tax Incidence by Other Household Groupings 330
Regional Incidence 330
Generational Incidence 331
xiv Contents
A CASE IN POINT 11.1 :THE ETHNIC INCIDENCE OF PROPERTY
TAXES 333
THE ECONOMIC INCIDENCE OF AN EXCISE TAX 333
What Determines Degree of Tax Shifting? 334
Income Incidence when Excise Taxes Are Shifted to Consumers 335
The Income incidence of Tobacco Taxes 337
Are All Excise Taxes Regressive? 338
Lifetime Income Incidence of Excise Taxes 339
Income Incidence when Excise Taxes Are Shifted to Producers 340
Impact on Factor Rewards 340
A CASE IN POINT 10.2: IS THE GASOLINE TAX REGRESSIVE? 341
Income Incidence and the Ownership of Factors 343
ADVANCED ISSUES IN ANALYSIS OF TAX INCIDENCE 344
The Incidence of the Corporation Income Tax 345
Tax Capitalization 347
Tax Incidence in the Long Run 348
Conclusion and Summary 349
Questions for Discussion and Review 350
Selected References 352
Useful Internet Sites 352
CHAPTER 12 Tax Policy Analysis 353
THE TAX BURDEN AND ECONOMIC EFFICIENCY 354
The Tax Burden as Lost Surplus 354
Measuring the Excess Burden of an Excise Tax 356
TheTax Rate and the Excess Burden 357
Economic Efficiency and the Tax System 358
Reducing the Excess Burden by Broadening the Tax Base 359
A CASE IN POINT 12.1 :THE EXCESS BURDEN OF
TELECOMMUNICATIONS TAXES 360
Offsetting Tax Distortions 361
Is a Uniform Tax System Best? 363
The Marginal Burden of Tax Revenue 365
The Optimal Excise Tax System 369
The Inverse Elasticity Rule 371
The Ramsey Rule and Tax Neutrality 3 72
EQUITY AND THE TAX SYSTEM 372
Principles of Tax Equity 372
A CASE IN POINT 12.2:THE DOUBLE DIVIDEND
FROM THE GREEN TAX SHIFT 373
Achieving Equity in a Tax System 374
Achieving Horizontal Equity 3 75
Achieving Vertical Equity 3 75
Conflicts Between Efficiency, Horizontal Equity and Vertical Equity 377
THE BURDENS OF ADMINISTRATION AND COMPLIANCE 378
The Burden of Tax Avoidance 379
The Burden of Tax Evasion 381
Conclusion and Summary 383
Questions for Discussion and Review 384
Selected References 386
Contents xv
Useful Internet Sites 386
Appendix to Chapter 12: Measuring the Loss in Consumer s Surplus 386
PART SIX The Federal Tax System 391
CHAPTER 13 Taxes on Personal Incomes 393
THE PERSONAL INCOME TAX SYSTEM 393
Some Terminology 394
Elements of the Tax Structure 395
The Tax Unit 395
Defining the Tax Base 396
The Graduated Tax Rate Schedule 397
Taxable Income by the Numbers 398
Adjusted Gross Income (AGO 398
Personal Exemptions (PE) 400
Standard Deductions (SD) and Itemized Deductions (ID) 400
Income Defined According to Principle 401
The Haig Simons Definition 402
Exclusions from Haig Simons Income 403
Unrealized Capital Gains and Imputed Rent 404
Inflation and Capital Income 405
Taxes on Income Saved for Retirement 406
Calculating the Amount of Tax Owed 407
A CASE IN POINT 13.1: HOW MUCH DOES HAIG SIMONS INCOME
EXCEED AGI? 408
Tax Credits 409
A Medley of Marginal Tax Rates 411
A CASE IN POINT 13.2:TAXING FAMILY VALUES 412
Conclusion and Summary 413
Questions for Discussion and Review 414
Selected References 416
Useful Internet sites 416
CHAPTER 14 Income Taxes and Household Behavior 417
EFFECTS OF TAX EXPENDITURES 417
The Deduction for Charitable Donations 419
The Exclusion of Employer Paid Insurance Benefits 422
Tax Expenditures for Home Ownership 422
The Incidence of Tax Expenditures 424
EFFECTS OF THE INCOME TAX ON THE LABOR SUPPLY 425
A Theory of the Choice Between Labor and Leisure 425
A CASE IN POINT 14.1 :THE INCIDENCE OF TAX EXPENDITURES 426
The Effect of a Lump Sum Tax 428
The Effect of a Proportional Income Tax 428
The Excess Burden of an Income Tax 430
The Effect of Fixed Exemptions from Taxable Income 432
Empirical Studies of the Effect of Income Tax on the Labor Supply 433
EFFECTS OF THE INCOME TAX ON PERSONAL SAVINGS 436
ATheory of Intertemporal Consumption Choice 436
xvi Contents
The Effects of Present and Future Taxes 438
The Effect of Taxing the Return to Saving 438
The After Tax Return on CODAs and IRAs 439
Empirical Studies of Taxation and Saving 441
A CASE IN POINT 14.2: DO TAX SHELTERED SAVINGS PLANS
INCREASE SAVING? 442
Conclusion and Summary 443
Questions for Discussion and Review 444
Selected References 446
Appendix to Chapter 14 446
CHAPTER 15 Taxes on Business Income 448
BUSINESS AND THE TAX SYSTEM 448
Business Organization and Taxation 449
Why Tax Business at All? 450
An Illustrative Example of a Business 451
DETERMINING BUSINESS INCOME 452
Economic Business Income 452
Taxable Business Income 454
Deductions for Depreciation 454
The Advantage of Accelerated Depreciation 458
THE CORPORATION INCOME TAX STRUCTURE 459
The Corporation Income Tax Unit 459
A CASE IN POINT 15.1: DOES A 300 YEAR OLD VIOL DEPRECIATE? 460
The Corporation Income Tax Base 461
The Corporation Income Tax Rate Schedule 462
THE EFFECTS OF TAXES ON BUSINESS DECISIONS 463
The Neutrality of Taxes on Economic Profit 463
The Effect of Business Taxes on Financial Decisions 465
Effect on the Choice Between Debt and Equity 466
Effect on the Decision to Distribute Dividends 466
The Effect of Business Taxes on Investment Decisions 468
Marginal Effective Tax Rates on Investment 469
Empirical Evidence on Taxes and Investment 471
THE INCIDENCE OF THE CORPORATION INCOME TAX 472
REFORMING BUSINESS INCOME TAXATION 474
Eliminating Business Tax Expenditures 475
Accelerated Depreciation 4 75
Tax Breaks for Multinational Corporations 4 75
Research and Development Tax Breaks 476
Integration of Corporate Taxes 477
A Cash Flow Business Tax 478
A CASE IN POINT 15.2: BUSINESS MEALS AND ENTERTAINMENT:
ARE THEY AN EXPENSE OR A TAX BREAK? 479
Conclusion and Summary 479
Questions for Discussion and Review 481
Selected References 482
Useful Internet Sites 483
Contents xvii
CHAPTER 16 Budget Surpluses and Deficits 484
SURPLUSES, DEFICITS, AND THE NATIONAL DEBT 484
Measuring the Surplus or Deficit 485
Adjusting for Confounding Factors 487
The Causes of Past Deficits and Future Surpluses 489
Measuring the National Debt 490
Is the National Debt a Burden? 492
View I: The Day of Reckoning 492
View 2: We Owe It to Ourselves 492
THETHEORY OF BUDGET SURPLUSES AND DEFICITS 493
A CASE IN POINT 16.1: DO WE NEED A BALANCED BUDGET
AMENDMENT? 494
The Government s Intertemporal Budget Constraint 494
The Timing of Taxes and the Individual 496
Ricardian Equivalence: Why the Budget Balance May Not Matter 496
Why the Budget Balance May Matter After All 498
The Timing of Taxes and Overlapping Generations 499
THE ECONOMIC EFFECTS OF THE BUDGET BALANCE 501
The Effects on Interest Rates, Saving, and Investment 501
Evidence on Ricardian Equivalence 503
THE BUDGET BALANCE AND FISCAL POLICY 504
The Budget Balance as a Built in Stabilizer 505
The Budget Balance and the Excess Burden of Taxes 505
The Budget Balance and Generational Equity 506
Generational Accounting and the Hidden National Debt 507
Surpluses, Deficits, and Saving Social Security 509
A CASE IN POINT 16.2: USING THE SURPLUS TO SAVE SOCIAL
SECURITY—DOUBLE COUNTING OR CREATIVE ACCOUNTING? 511
Conclusion and Summary 512
Questions for Discussion and Review 513
Selected References 515
Useful Internet sites 515
CHAPTER 17 Reforming the Federal Tax System 516
ALTERNATIVES TO THE EXISTING INCOMETAX 517
The Flat Tax 518
The National Sales Tax 518
The Consumed Income Tax 519
CONSUMPTION AS ATAX BASE 519
Methods of Taxing Consumption 520
Technical Issues in Taxing Consumption 521
The Tax Treatment of Consumer Durables 522
Financial and Other Services 523
Goods and Services Used in Further Stages of Production 523
Indirect Taxes on Consumption 524
The Value Added Tax (VAT) 525
Measuring Value Added 526
Different Bases for VATs 527
Flat Tax or VAT? 528
xviii Contents
POLICY ISSUES IN TAXING CONSUMPTION 529
Are Consumption Taxes More Efficient? 529
A CASE IN POINT 17.1: HOW HIGH WOULD A NATIONAL
SALES TAX RATE BE? 530
Fairness and Consumption Taxes 533
Administrative and Compliance Costs 535
OTHERTAX BASE SHIFTS 536
The Green Tax Shift 536
A CASE IN POINT 17.2:TAX REFORM—RHETORIC AND REALITY 537
Taxes on Wealth 538
Taxes on Transfers of Wealth 539
Taxes on Land and Site Value 541
Conclusion and Summary 543
Questions for Discussion and Review 544
Selected References 546
useful internet sites 546
PART SEVEN State and Local Public Finance 547
CHAPTER 18 Spending by State and Local Governments 549
THE FUNCTION OF STATE AND LOCAL GOVERNMENT 549
State and Local Government Spending 550
Demand for State and Local Public Goods 551
THETHEORY OF LOCAL PUBLIC GOODS 553
Jurisdictional Spillovers 553
Local Public Goods and Community Size 554
Accommodating Different Tastes for Public Goods 554
TheTiebout Hypothesis: Voting with One s Feet 556
Assumptions Needed for the Tiebout Hypothesis 557
Limits of the Tiebout Hypothesis 558
THE ECONOMIC THEORY OF FEDERALISM 559
A CASE IN POINT 18.1: CHARLES TIEBOUT MEETS RONALD COASE 560
Benefits of Decentralization 561
Greater Voice 562
Greater Choice 562
Competition and Innovation 563
The Benefit Principle of Equity 563
Benefits of Centralization 564
Internalizing jurisdictional Spillovers 564
Avoiding Beggar Thy Neighbor Policies 564
Economies of Scale 565
Horizontal and Vertical Equity 565
INTERGOVERNMENTAL GRANTS 566
Effects of Different Types of Grants 567
Noncategorical Grants 567
Categorical Grants 569
The Flypaper Effect 5 72
Contents xix
Equalizing Grants for Education 574
Intergovernmental Grant Policy 575
STATE AND LOCAL GOVERNMENT SPENDING ON EDUCATION 576
The Rationale for Government Education Spending 577
Education and Market Failure 577
Education and Equity 579
Savage Inequalities 580
Savage Inefficiencies? 581
A CASE IN POINT 18.2: SCHOOL VOUCHERS:THE MILWAUKEE PARENTAL
CHOICE PROGRAM 582
Reforming Public Schools: A Matter of Choice 583
Conclusions and Summary 584
Questions for Discussion and Review 586
Selected References 587
useful internet sites 588
CHAPTER 19 State and Local Taxes 589
PROBLEMS FACED BY MULTIPLE TAX AUTHORITIES 590
Establishing the Right to Tax 590
Allocating the Tax Base 592
The Efficiency of Multijurisdictional Taxes 594
Tax Exporting 596
Tax Competition 598
STATE AND LOCAL TAX STRUCTURE 598
A CASE IN POINT 19.1: WELCOME,TAXPAYING TRAVELER 599
A Diverse Tax Landscape 600
State Income Taxes 601
State and Local Sales Taxes 602
State and Local Property Taxes 603
A CASE IN POINT 19.2:TAXATION IN CYBERSPACE 604
The Mechanics of Levying Property Taxes 605
The Economic Effects of the Property Tax 606
Who Bears the Property Tax? 608
Property Tax Relief Measures 610
Incidence of All State and Local Taxes 610
Conclusion and Summary 612
Questions for Discussion and Review 613
Selected References 614
useful internet sites 615
Appendix A 1
Glossary G l
References R 1
Index 1 1
|
| any_adam_object | 1 |
| author | Bruce, Neil |
| author_facet | Bruce, Neil |
| author_role | aut |
| author_sort | Bruce, Neil |
| author_variant | n b nb |
| building | Verbundindex |
| bvnumber | BV013764716 |
| callnumber-first | H - Social Science |
| callnumber-label | HJ257 |
| callnumber-raw | HJ257.2 |
| callnumber-search | HJ257.2 |
| callnumber-sort | HJ 3257.2 |
| callnumber-subject | HJ - Public Finance |
| classification_rvk | QL 262 |
| ctrlnum | (OCoLC)44594132 (DE-599)BVBBV013764716 |
| dewey-full | 336.73 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 336 - Public finance |
| dewey-raw | 336.73 |
| dewey-search | 336.73 |
| dewey-sort | 3336.73 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| edition | 2. ed. |
| format | Book |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>02249nam a2200589 c 4500</leader><controlfield tag="001">BV013764716</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="005">20010607 </controlfield><controlfield tag="007">t</controlfield><controlfield tag="008">010607s2001 d||| |||| 00||| eng d</controlfield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">0321078152</subfield><subfield code="9">0-321-07815-2</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)44594132</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV013764716</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">rakwb</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-20</subfield><subfield code="a">DE-29</subfield><subfield code="a">DE-11</subfield></datafield><datafield tag="050" ind1=" " ind2="0"><subfield code="a">HJ257.2</subfield></datafield><datafield tag="082" ind1="0" ind2=" "><subfield code="a">336.73</subfield><subfield code="2">21</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">QL 262</subfield><subfield code="0">(DE-625)141710:</subfield><subfield code="2">rvk</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Bruce, Neil</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Public finance and the American economy</subfield><subfield code="c">Neil Bruce</subfield></datafield><datafield tag="250" ind1=" " ind2=" "><subfield code="a">2. ed.</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Boston [u.a.]</subfield><subfield code="b">Addison-Wesley</subfield><subfield code="c">2001</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">XXVII, 615 S.</subfield><subfield code="b">graph. Darst.</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">n</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">nc</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="0" ind2=" "><subfield code="a">The Addison-Wesley series in economics</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">Openbare financiën</subfield><subfield code="2">gtt</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Finanzwirtschaft</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Wirtschaftspolitik</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Debts, Public</subfield><subfield code="z">United States</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Entitlement spending</subfield><subfield code="z">United States</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Finance, Public</subfield><subfield code="z">United States</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Fiscal policy</subfield><subfield code="z">United States</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Government spending policy</subfield><subfield code="z">United States</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Local finance</subfield><subfield code="z">United States</subfield></datafield><datafield tag="650" ind1="0" ind2="7"><subfield code="a">Finanzwirtschaft</subfield><subfield code="0">(DE-588)4017214-4</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="650" ind1="0" ind2="7"><subfield code="a">Finanzwissenschaft</subfield><subfield code="0">(DE-588)4121273-3</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="651" ind1=" " ind2="4"><subfield code="a">USA</subfield></datafield><datafield tag="651" ind1=" " ind2="4"><subfield code="a">United States</subfield><subfield code="x">Economic policy</subfield><subfield code="y">1993-</subfield></datafield><datafield tag="651" ind1=" " ind2="7"><subfield code="a">USA</subfield><subfield code="0">(DE-588)4078704-7</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="655" ind1=" " ind2="7"><subfield code="8">1\p</subfield><subfield code="0">(DE-588)4123623-3</subfield><subfield code="a">Lehrbuch</subfield><subfield code="2">gnd-content</subfield></datafield><datafield tag="689" ind1="0" ind2="0"><subfield code="a">USA</subfield><subfield code="0">(DE-588)4078704-7</subfield><subfield code="D">g</subfield></datafield><datafield tag="689" ind1="0" ind2="1"><subfield code="a">Finanzwirtschaft</subfield><subfield code="0">(DE-588)4017214-4</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="0" ind2=" "><subfield code="5">DE-604</subfield></datafield><datafield tag="689" ind1="1" ind2="0"><subfield code="a">Finanzwissenschaft</subfield><subfield code="0">(DE-588)4121273-3</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="1" ind2=" "><subfield code="8">2\p</subfield><subfield code="5">DE-604</subfield></datafield><datafield tag="856" ind1="4" ind2="2"><subfield code="m">HBZ Datenaustausch</subfield><subfield code="q">application/pdf</subfield><subfield code="u">http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=009408282&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA</subfield><subfield code="3">Inhaltsverzeichnis</subfield></datafield><datafield tag="999" ind1=" " ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-009408282</subfield></datafield><datafield tag="883" ind1="1" ind2=" "><subfield code="8">1\p</subfield><subfield code="a">cgwrk</subfield><subfield code="d">20201028</subfield><subfield code="q">DE-101</subfield><subfield code="u">https://d-nb.info/provenance/plan#cgwrk</subfield></datafield><datafield tag="883" ind1="1" ind2=" "><subfield code="8">2\p</subfield><subfield code="a">cgwrk</subfield><subfield code="d">20201028</subfield><subfield code="q">DE-101</subfield><subfield code="u">https://d-nb.info/provenance/plan#cgwrk</subfield></datafield></record></collection> |
| genre | 1\p (DE-588)4123623-3 Lehrbuch gnd-content |
| genre_facet | Lehrbuch |
| geographic | USA United States Economic policy 1993- USA (DE-588)4078704-7 gnd |
| geographic_facet | USA United States Economic policy 1993- |
| id | DE-604.BV013764716 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T18:51:33Z |
| institution | BVB |
| isbn | 0321078152 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-009408282 |
| oclc_num | 44594132 |
| open_access_boolean | |
| owner | DE-20 DE-29 DE-11 |
| owner_facet | DE-20 DE-29 DE-11 |
| physical | XXVII, 615 S. graph. Darst. |
| publishDate | 2001 |
| publishDateSearch | 2001 |
| publishDateSort | 2001 |
| publisher | Addison-Wesley |
| record_format | marc |
| series2 | The Addison-Wesley series in economics |
| spelling | Bruce, Neil Verfasser aut Public finance and the American economy Neil Bruce 2. ed. Boston [u.a.] Addison-Wesley 2001 XXVII, 615 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier The Addison-Wesley series in economics Openbare financiën gtt Finanzwirtschaft Wirtschaftspolitik Debts, Public United States Entitlement spending United States Finance, Public United States Fiscal policy United States Government spending policy United States Local finance United States Finanzwirtschaft (DE-588)4017214-4 gnd rswk-swf Finanzwissenschaft (DE-588)4121273-3 gnd rswk-swf USA United States Economic policy 1993- USA (DE-588)4078704-7 gnd rswk-swf 1\p (DE-588)4123623-3 Lehrbuch gnd-content USA (DE-588)4078704-7 g Finanzwirtschaft (DE-588)4017214-4 s DE-604 Finanzwissenschaft (DE-588)4121273-3 s 2\p DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=009408282&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk 2\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
| spellingShingle | Bruce, Neil Public finance and the American economy Openbare financiën gtt Finanzwirtschaft Wirtschaftspolitik Debts, Public United States Entitlement spending United States Finance, Public United States Fiscal policy United States Government spending policy United States Local finance United States Finanzwirtschaft (DE-588)4017214-4 gnd Finanzwissenschaft (DE-588)4121273-3 gnd |
| subject_GND | (DE-588)4017214-4 (DE-588)4121273-3 (DE-588)4078704-7 (DE-588)4123623-3 |
| title | Public finance and the American economy |
| title_auth | Public finance and the American economy |
| title_exact_search | Public finance and the American economy |
| title_full | Public finance and the American economy Neil Bruce |
| title_fullStr | Public finance and the American economy Neil Bruce |
| title_full_unstemmed | Public finance and the American economy Neil Bruce |
| title_short | Public finance and the American economy |
| title_sort | public finance and the american economy |
| topic | Openbare financiën gtt Finanzwirtschaft Wirtschaftspolitik Debts, Public United States Entitlement spending United States Finance, Public United States Fiscal policy United States Government spending policy United States Local finance United States Finanzwirtschaft (DE-588)4017214-4 gnd Finanzwissenschaft (DE-588)4121273-3 gnd |
| topic_facet | Openbare financiën Finanzwirtschaft Wirtschaftspolitik Debts, Public United States Entitlement spending United States Finance, Public United States Fiscal policy United States Government spending policy United States Local finance United States Finanzwissenschaft USA United States Economic policy 1993- Lehrbuch |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=009408282&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| work_keys_str_mv | AT bruceneil publicfinanceandtheamericaneconomy |