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A New View of Economic Growth$
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Maurice FitzGerald Scott

Print publication date: 1991

Print ISBN-13: 9780198287421

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198287429.001.0001

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Taxation and Growth

Taxation and Growth

Chapter:
(p.392) 14 Taxation and Growth
Source:
A New View of Economic Growth
Author(s):

Maurice FitzGerald Scott

Publisher:
Oxford University Press
DOI:10.1093/0198287429.003.0014

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

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