Capital Tax Reform and the Real Economy: The Effects of the 2003 Dividend Tax Cut

This paper tests whether the 2003 dividend tax cut—one of the largest reforms ever to a US capital tax rate—stimulated corporate investment and increased labor earnings, using a quasi-experimental design and US corporate tax returns from years 1996-2008. I estimate that the tax cut caused zero chang...

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Bibliographic Details
Published in:The American economic review 2015-12, Vol.105 (12), p.3531-3563
Main Author: Yagan, Danny
Format: Article
Language:English
Subjects:
1996-2008
Capital costs
Capital investments
Corporate income taxes
Corporations
Dividends
Financial investments
Income taxes
Investment tax credits
Tax cuts
Tax rates
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