Complexity in the tax code has negative redistributive and growth consequences that have only accelerated over time as more and more policy goals are now implemented through the tax system.
Recent merger transactions highlight long-simmering problems in the U.S. corporate tax, particularly with respect to its international provisions.
The U.S. corporate tax code is broken. High rates and perverse incentives drive capital away from the corporate sector and toward other uses and countries. Professor Mihir A. Desai believes a handful of changes could fix all that.
Some of the world’s most original thinkers explain the competitiveness challenge America faces and point the way forward.
Professors Robin Greenwood and David Scharfstein make recommendations in three important domains in which the U.S. financial system has underperformed: financial stability, housing finance, and investment costs.
Across the political spectrum, there is consensus that the United States faces challenges to its competitiveness. Current U.S. fiscal policy is, unfortunately, part of the problem rather than the solution, according to Professors Richard H.K. Vietor and Matthew C. Weinzierl.
The last three decades have seen American capitalism transformed by a simple idea—that the evaluation and compensation of managers and investors should be outsourced to financial markets, says Professor Mihir A. Desai.