| Canada-U.S. Tax Comparisons Contributor(s): Shoven, John B. (Editor), Whalley, John (Editor) |
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ISBN: 0226754839 ISBN-13: 9780226754833 Publisher: University of Chicago Press OUR PRICE: $108.30 Product Type: Hardcover - Other Formats Published: November 1992 Annotation: In the increasingly global economy, domestic tax policies have taken on a new importance for international economics. This unique volume compares the tax reform experiences of Canada and the United States, two countries with the world's largest bilateral flow of trade and investment. With the signing of the U.S.-Canada Free Trade Agreement and the tax reforms of the 1980s, there has been some harmonization of tax systems. But geographic, cultural, and political characteristics shape distinct national social policies that may impede harmonization. As the U.S. and Canadian economies become even more integrated, differences in tax systems will have important effects, in particular on the relative rates of economic growth. Scholars from both countries examine the extent to which conformity between these national programs has taken place, focusing on tax reforms of the 1980s, and assess the effects over the long term. The authors carefully consider the policy environment in which social programs are established and implemented, including such aspects as property rights, incentive structures, the degree and kind of economic freedoms, and the systems of private and public decision making. By comparing these environments, the authors show that certain aspects of the tax systems of Canada and the United States are converging, while in other respects they are diverging. For instance, both countries exhibit similar corporate tax structures and income tax systems, but they have very different approaches to sales taxes and social security taxes. Another interesting conclusion from these investigations is that although tax policies differ, outcomes are often quite similar. For example, they generateroughly the same amounts of revenue, produce similar costs of capital, and produce comparable distributions of income. The methodology and results of this research will have significant implications for the analysis and development of trade policies among other nations, as well as for understanding domestic social policy in a global economy. |
| Additional Information |
| BISAC Categories: - Business & Economics | Taxation - General |
| Dewey: 336.200 |
| LCCN: 92013915 |
| Series: National Bureau of Economic Research Project Report |
| Physical Information: 1.1" H x 6.28" W x 9.22" (1.59 lbs) 398 pages |
| Descriptions, Reviews, Etc. |
| Publisher Description: In the increasingly global economy, domestic tax policies have taken on a new importance for international economics. This unique volume compares the tax reform experiences of Canada and the United States, two countries with the world's largest bilateral flow of trade and investment. With the signing of the U.S.-Canada Free Trade Agreement and the tax reforms of the 1980s, there has been some harmonization of tax systems. But geographic, cultural, and political characteristics shape distinct national social policies that may impede harmonization. As the U.S. and Canadian economies become even more integrated, differences in tax systems will have important effects, in particular on the relative rates of economic growth. In this timely study, scholars from both countries show that, while the United States and Canada exhibit similar corporate tax structures and income tax systems, they have very different approaches to sales tax and social security taxes. Despite these differences, the two countries generate roughly the same amounts of revenue, produce similar costs of capital, and produce comparable distributions of income. |