Taxation and Growth

Maurice FitzGerald Scott

in A New View of Economic Growth

Published in print June 1991 | ISBN: 9780198287421
Published online November 2003 | e-ISBN: 9780191596872 | DOI:

Series: Clarendon Paperbacks

 Taxation and Growth

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Conceptually, taxes are on wages, on capitalists’ take‐out, and on savings, actual taxes being a mixture of these. Putting aside the effects on growth of expenditures financed by taxation, taxes on wages reduce growth by reducing human investment, fostering the black economy and leading to cost‐push inflation. Taxes on take‐out have no effect on growth except by encouraging tax evasion. Taxes on savings reduce growth, and have been imposed at widely differing rates with no clear economic rationale and marked effects on patterns of savings and investment.

Keywords: capitalists’ take‐out; growth; inflation; savings; tax evasion; taxes; wages

Chapter.  17228 words. 

Subjects: Economic Development and Growth

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