Capital Taxation
The new chairman of President Reagan's Council of Economic Advisers, Martin Feldstein is also the leading economist in the field of tax analysis. In this important volume he shows how systems of taxation influence the rate and nature of capital formation—a key policy issue in the development of any economy.
The first part of Capital Taxation deals with the overall rate of saving and examines the effects of taxes on both personal and corporate saving as well as on the interaction between the two. The second section describes the effects of tax rules on household portfolios: selection and size of investment and the process of portfolio adjustment. In Part 3, Feldstein turns to corporate investment in plant and equipment and in…