TAILIEUCHUNG - Budget Impasse Hinges on Confusion among Deficit Reduction, Tax Increase, and Tax Reform: An Economic Analysis of Dual Capacity and Section 199 Proposals for the U.S. Oil and Gas Industry

Notwithstanding some important steps forward, however, as we return once again to Jackson Hole I think we would all agree that, for much of the world, the task of economic recovery and repair remains far from complete. In many countries, including the United States and most other advanced industrial nations, growth during the past year has been too slow and joblessness remains too high. Financial conditions are generally much improved, but bank credit remains tight; moreover, much of the work of implementing financial reform lies ahead of us. Managing fiscal deficits and debt is a. | Budget Impasse Hinges on Confusion among Deficit Reduction Tax Increase and Tax Reform An Economic Analysis of Dual Capacity and Section 199 Proposals for the . Oil and Gas Industry by Joseph R. Mason1 July 12 2011 1 Hermann Moyse Jr. Louisiana Bankers Association Professor of Finance at Louisiana State University and Senior Fellow the Wharton School. While this report was prepared with support from the American Energy Alliance the views here are my own do not necessarily represent those of at Louisiana State University the Wharton School or the American Energy Alliance. I owe special thanks to Robert Kulick for invaluable research assistance and support. As the deadline for approving an increase in the Federal debt ceiling approaches the tax treatment of oil and gas companies revenues has become enmeshed in the policy debate over debt reduction and tax reform. That debate however is presently confusing three concepts deficit reduction tax reform and tax increases. While sometimes related those three concepts are not guaranteed to be equivalent. It is crucially important therefore that policymakers maintain the distinction between the three in the highly charged budget debates in order to enact meaningful deficit reduction policies. The stated goal of all participants in the budget debates has been deficit reduction. Reduced deficits are crucial to eventually reducing the debt burden to a sustainable level. The simplest deficit reductions can be attained by decreasing spending or increasing government revenues. But there are other policy options to alter regulatory and public goods policies in ways that promote economic growth without raising tax rates. That is important because even increased tax rates in and of themselves do not guarantee increased tax revenues. One need only look at the famous Laffer curve hypothesis combined with the type of economic theory and empirical tests carried out by Gary Becker of the University of Chicago and subsequent work to see

• Quản trị kinh doanh
• information against
• spam threats
• rapidly recovers
• promoting entrepreneurship
• article concludes
• probably does
• Business analysis
• Protection Suite
• Business Edition
• Mental health
• discrimination against
• Health Declaration
• health legislation
• health information
• health care
• unmatched defense
• against email
• borne threats
• yielding significant
• direct effect
• greatest weight