State income taxes and economic growth
This article explores the impact of tax policy on economic growth in the states within the framework of an endogenous growth model. Regression analysis is used to estimate the impact of taxes on economic growth in the states from 1964 to 2004. The analysis reveals a significant negative impact of hi...
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| Veröffentlicht in: | The Cato journal 2008-01, Vol.28 (1), p.53-71 |
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| creator | Poulson, Barry W Kaplan, Jules Gordon |
| description | This article explores the impact of tax policy on economic growth in the states within the framework of an endogenous growth model. Regression analysis is used to estimate the impact of taxes on economic growth in the states from 1964 to 2004. The analysis reveals a significant negative impact of higher marginal tax rates on economic growth. The analysis underscores the importance of controlling for regressivity, convergence, and regional influences in isolating the effect of taxes on economic growth in the states. Most states introduced an income tax and came to rely on the income tax as the primary source of revenue. Jurisdictions that imposed an income tax to generate a given level of revenue experienced lower rates of economic growth relative to jurisdictions that relied on alternative taxes to generate the same revenue. |
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Regression analysis is used to estimate the impact of taxes on economic growth in the states from 1964 to 2004. The analysis reveals a significant negative impact of higher marginal tax rates on economic growth. The analysis underscores the importance of controlling for regressivity, convergence, and regional influences in isolating the effect of taxes on economic growth in the states. Most states introduced an income tax and came to rely on the income tax as the primary source of revenue. Jurisdictions that imposed an income tax to generate a given level of revenue experienced lower rates of economic growth relative to jurisdictions that relied on alternative taxes to generate the same revenue.</description><subject>20th century</subject><subject>Economic Development</subject><subject>Economic growth</subject><subject>Economic impact</subject><subject>Endogenous growth</subject><subject>Fiscal policy</subject><subject>Forecasts and trends</subject><subject>Growth models</subject><subject>Hypotheses</subject><subject>Income tax</subject><subject>Income taxes</subject><subject>Influence</subject><subject>Interpretation and construction</subject><subject>Jurisdiction</subject><subject>Manufacturing</subject><subject>National income</subject><subject>Per capita</subject><subject>Public finance</subject><subject>Public policy</subject><subject>Regression analysis</subject><subject>Service industries</subject><subject>State taxes</subject><subject>States (Political Subdivisions)</subject><subject>Tax base</subject><subject>Tax policy</subject><subject>Tax rates</subject><subject>Taxation</subject><issn>0273-3072</issn><issn>1943-3468</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2008</creationdate><recordtype>article</recordtype><sourceid>7TQ</sourceid><sourceid>7UB</sourceid><sourceid>8G5</sourceid><sourceid>ABUWG</sourceid><sourceid>AFKRA</sourceid><sourceid>AZQEC</sourceid><sourceid>BENPR</sourceid><sourceid>CCPQU</sourceid><sourceid>DWQXO</sourceid><sourceid>GNUQQ</sourceid><sourceid>GUQSH</sourceid><sourceid>M2O</sourceid><recordid>eNp9kE1Lw0AQhoMoWKv_IXiop8h-JjvHUvyCggf1HKa7szEl3dVkg_58U-pJiszhHYbnnZeZk2zGQclCqtKcZjMmqqlnlTjPLoZhyxgXmstZtnhJmChvg407yhN-05BjcDnZGOKutXnTx6_0fpmdeewGuvrVefZ2f_e6eizWzw9Pq-W6aARAKsAZBmTBMnTOWauMNAYrt_GGKU0onPRMVWARPVakja_ASPLOus2GgZbz7Oaw96OPnyMNqd61g6Wuw0BxHGojgUtpFJvIxb-kBsNKXvIJvP4DbuPYh-mKmoPWAILtc4sD1GBHdRt8TD3ahgL12MVAvp3GS16BUFyV-_TbI_xUjqanHTH8ADuYd_4</recordid><startdate>20080101</startdate><enddate>20080101</enddate><creator>Poulson, Barry W</creator><creator>Kaplan, Jules Gordon</creator><general>Cato Institute</general><scope>0-V</scope><scope>0U~</scope><scope>1-H</scope><scope>3V.</scope><scope>4S-</scope><scope>4T-</scope><scope>4U-</scope><scope>7TQ</scope><scope>7UB</scope><scope>7WY</scope><scope>7WZ</scope><scope>7XB</scope><scope>87Z</scope><scope>88J</scope><scope>8AO</scope><scope>8BJ</scope><scope>8FK</scope><scope>8FL</scope><scope>8G5</scope><scope>ABUWG</scope><scope>AFKRA</scope><scope>ALSLI</scope><scope>AZQEC</scope><scope>BENPR</scope><scope>BEZIV</scope><scope>CCPQU</scope><scope>DHY</scope><scope>DON</scope><scope>DPSOV</scope><scope>DWQXO</scope><scope>FQK</scope><scope>FRNLG</scope><scope>F~G</scope><scope>GNUQQ</scope><scope>GUQSH</scope><scope>JBE</scope><scope>K60</scope><scope>K6~</scope><scope>KC-</scope><scope>L.-</scope><scope>L.0</scope><scope>M0C</scope><scope>M2L</scope><scope>M2O</scope><scope>M2R</scope><scope>MBDVC</scope><scope>PIMPY</scope><scope>PQBIZ</scope><scope>PQBZA</scope><scope>PQEST</scope><scope>PQQKQ</scope><scope>PQUKI</scope><scope>Q9U</scope><scope>S0X</scope></search><sort><creationdate>20080101</creationdate><title>State income taxes and economic growth</title><author>Poulson, Barry W ; 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Regression analysis is used to estimate the impact of taxes on economic growth in the states from 1964 to 2004. The analysis reveals a significant negative impact of higher marginal tax rates on economic growth. The analysis underscores the importance of controlling for regressivity, convergence, and regional influences in isolating the effect of taxes on economic growth in the states. Most states introduced an income tax and came to rely on the income tax as the primary source of revenue. Jurisdictions that imposed an income tax to generate a given level of revenue experienced lower rates of economic growth relative to jurisdictions that relied on alternative taxes to generate the same revenue.</abstract><cop>Washington</cop><pub>Cato Institute</pub><tpages>19</tpages><oa>free_for_read</oa></addata></record> |
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| issn | 0273-3072 1943-3468 |
| language | eng |
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| source | EBSCOhost Political Science Complete; Business Source Complete (BSC) 商管财经类全文数据库(完整版); PAIS Index; Columbia International Affairs Online Journals; Worldwide Political Science Abstracts; HeinOnline Law Journal Library; EZB* |
| subjects | 20th century Economic Development Economic growth Economic impact Endogenous growth Fiscal policy Forecasts and trends Growth models Hypotheses Income tax Income taxes Influence Interpretation and construction Jurisdiction Manufacturing National income Per capita Public finance Public policy Regression analysis Service industries State taxes States (Political Subdivisions) Tax base Tax policy Tax rates Taxation |
| title | State income taxes and economic growth |
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