Ye Tian Jun Shu Hui
(Jilin University, Changchun 1300 12)
Since the 1930s, the United States has experienced five large-scale tax cuts in history. It can be said that beauty
The history of China's tax reduction policy is both painful and glorious, tortuous and vast. This paper focuses on the historical development of American tax reduction policy.
Change the trajectory, and further analyze its enlightenment and reference on this basis.
Keywords: tax reduction policy, tax burden evolution and its enlightenment to the United States
China Library Classification. F8 1 1 ID A
Date of receipt: 20 10! 06 ! 22
About the author: Ye Jun, Associate Professor, School of Foreign Languages, Jilin University. Research direction: British and American history and culture, cross-cultural communication. Tian, graduate student, School of Administration, Jilin University. study
Research direction: public policy analysis.
The tax reduction policy is an expansionary policy. It means by falling
The tax rate is low, the scope of collection is narrowed, and some taxes are cancelled or stopped.
It means adjusting or changing the existing tax system, thereby reducing enterprises or houses.
A tax policy of people's tax burden, which is manifested in a certain period of time.
The tax burden of main taxes and important taxes decreased. It acts as a tax.
Income multiplier effect, its influence on economic growth, supply and demand, and fiscal revenue.
Support, price mechanism, employment level, etc. America is the world.
The world's largest economic power, it is recognized that tax reduction is the most important.
A representative country. Its tax policy is its macro-economy.
The important components of policy and fiscal policy are also consumption and society.
The main tool of social policy. The orientation of American tax reduction policy is of great significance to the world.
Tax reform plays a leading and guiding role in the economic growth of various countries.
1 Historical Evolution of American Tax Reduction Policy
The real tax reduction policy in the United States began in the 1930s.
During the Great Depression of 1980s, Keynes was a landmark work.
Published in 1936? General Theory of Employment Interest and Money #.
The implementation of tax cuts has brought about different degrees of GDP growth in the United States.
For a long time, the increase in private savings and investment has awakened 90% of American classics.
Economy. The evolution of American tax reduction policy can be roughly divided into the following five parts.
Period.
1 1 orthodox keynesianism: beauty in the 1940s and 1970s.
China's tax reduction policy
In the early 1930s, the capitalist world took place.
Unprecedented economic crisis, high unemployment rate, banking machine
A large number of buildings have been closed and inflation has intensified. These have seriously shaken the west.
The world's confidence in the internal stability mechanism of the free market economy. oneself
Thus, Keynesianism, which advocates government intervention in the economy, has entered the dance of history.
Taiwan Province. Keynes advocated an expansionary fiscal policy including tax reduction.
In order to stimulate aggregate demand, it became the capital after World War II until the 1970s.
The soul of fiscal policy and tax policy in socialist countries.
In the 1940s, American Keynesians
Alvin & Harvey & Hansen put forward the idea of compensatory fiscal policy.
He advocated that the government should go against the economic trend and use expansion and austerity policies alternately.
Two ways of austerity: adopting deficit budget during economic depression.
Expand policies, expand government expenditure, reduce tax rates and improve society.
Total social demand; In the period of economic prosperity, the use of surplus finance is tense.
Shrinking policy, reducing government expenditure, raising tax rate and reducing social total
Demand [1]
. The implementation of compensatory fiscal policy has achieved certain results.
Thanks to the steady development of the American economy. But by the 1950s,
In 1990s, there were various mistakes in compensatory fiscal policy, which led to economic crisis.
Is the economy stagnant for a long time? Eisenhower was stuck in a stagnant situation.
196 1 year, Kennedy was elected president of the United States to make the country
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Is the economy rapidly coming out of the trough? Eisenhower was stuck in a quagmire, he replied.
Walter, Chairman of the Council of Economic Advisers; Heller and other Keynesians
The fiscal policy of righteous growth began at 1962.
Full implementation of tax reduction and preferential tax policies, so that personal income
It is fair to reduce the tax rate from 20% ~ 9 1% to 14% ~ 70%.
The corporate income tax rate dropped from 52% to 48% [2]
. It has expanded the social aggregate.
Demand has stimulated the rapid growth of the American economy. This tax cut
It is considered as one of the most successful applications of Keynesian economics.
Subsequently, the 36th President of the United States, Johnson, inherited Kennedy's restoration.
Tax policy. On the one hand, he promoted the approval of 1964 in February.
What did Kennedy leave behind? Tax reduction act # cut corporate tax.
25.5 billion dollars, personal income tax reduction 1 1 billion dollars; another
Aspects, and put forward? Fight poverty%, build? Great society%
In practice, the government intervenes in the economy through policies.
The scale and intensity of expansion have reached an unprecedented level, which is the reality of the United States.
The gross domestic product is increasing at an impressive average rate of 55%. but
By the end of 1970s, American economy was stagflation, Kane.
The theory failed. America ended Kane's long-term single use.
The history of expansionary fiscal policy to stimulate economic growth.
12 Reagan Revolution: America in the 1980s? Reduced supply
Tax% policy
Reagan came to power 198 1 to overcome the economic development of the United States.
Stagflation problem, he turned to the economic policy of supply school.
Zhang believes that comprehensive tax reduction is a good way to promote economic development. Regan
The government has implemented two large-scale tax reduction schemes: (1) 198 1.
The US Congress passed it in 1967? Economic recovery act #. this
The bill mainly includes the minimum tax rate of personal income tax 14% and the maximum tax rate.
The tax rate was reduced from 70% to 1 1% and 50% respectively; Announced accelerated depreciation
Regulations (ACRS), allowing enterprises? Accrued replacement cost%.
Depreciation; Reduce the government's work for individuals, enterprises and state governments.
Necessary intervention; Support a sound and reliable monetary policy; Increase national defense
Expenditure, raising the military budget, etc. ; (2) Adopted in 1986
Tax reform bill. While continuing to cut taxes on a large scale,
Carry out tax reform by expanding the tax base, reducing the tax rate and strengthening
Fairness, simplified management and other ways to solve the disadvantages of complex tax system,
Thereby promoting economic growth. This triggered a global tax.
One of the main reasons for system reform. Table 1 lists 198 1 in detail.
The Reagan administration's tax cuts during ~ 1986.
Table 1 Reagan administration? The impact of the economic recovery act # on the federal government's tax revenue [3]
Project198119821983198419851986.
Personal tax and non-tax income is 48 465 438+02 8765 438+0175141721.
Corporate profits tax revenue 57112 208 277 398 537
Indirect tax and non-tax income of enterprises 5 2 6 5
Social insurance tax 5 5 6 6 6
The total amount is1055241076144818212256.
(Note: Decrease, billion US dollars)
The Reagan administration's tax reduction policy involves many taxes and tax cuts.
The amount is huge and extremely rare in the history of tax reduction in the world. people travelling in a place far away from home
It is estimated that Reagan's 198 1~ 1986 tax reduction policy will make the United States
The GDP of 1983, 1984 and 1985 increased rapidly.
The GDP growth rate is 36%, 68% and 34% respectively; lose one's job
The rate decreased from 97% in 1982 to 72% in 1985. In the sea/sea
The roots of the government? Supply-oriented tax reduction 10% reversed the situation in the 1970 s.
An economy with high unemployment and high inflation? Stagflation%, for
Enterprises have accumulated funds, improved the quality of life of residents and stimulated
The development of American economy in 1980s was reviewed.
13 state intervention to balance the budget: the United States in the 1990s
China's tax reduction policy
In the 1990s, in the tide of economic globalization,
Under this impetus, capital flows between countries and regions around the world have been strengthened.
The tax base is complex and changeable, and the international tax competition is becoming increasingly fierce.
Coupled with the factors of war, American finance is as high as 199 1.
A huge deficit of 268.7 billion US dollars. High deficits are accompanied by high interest rates,
High debt, high exchange rate and high trade deficit. Five high% problem
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During President Bush's administration, it triggered a serious economic recession. for
In order to get rid of this situation, Clinton came to power 1993, which reversed the situation.
Reagan economics unilaterally emphasized the fiscal policy of supply and implemented it.
A comprehensive economic development plan to revitalize the American economy.
Clinton's? % of the comprehensive economic development plan is to increase taxes.
The state intervenes in the balanced budget policy, while emphasizing the reduction of expenditure. It's in wealth.
The main contents of politics and taxation are: Reduce the fiscal deficit from 1993
From1316.7 billion dollars in 1997 to1810 billion dollars in 1997. do
The law is to increase taxes by $320 billion in five years and reduce the personal income tax rate.
From 3 1% to 36%, up to 39%, corporate income tax.
The ratio rose from 34% to 36%; Cut budget expenditure by more than 500 billion yuan.
Among them, the defense budget will be cut by $88 billion, and medical care will be cut.
Expenditure on medical care and reduction of government personnel by more than 654.38 million. [ 4]
%
1997, passed by the us congress again? Fiscal balance budget law
Case # and? Tax reduction bill #, which can increase or decrease taxes.
The whole. Including lowering the top rate of long-term capital gains tax, raising
Reduce taxes for children, increase the exemption amount of inheritance tax and gift tax, and increase
High tax incentives and other measures for individual retirement accounts. Clinton administration
The government implemented a series of fiscal policies to balance the budget, which made the United States
The GDP growth rate is higher than 25% of the annual growth rate of the world economy in the same period.
Created more employment opportunities, cut the fiscal deficit, the United States
The financial situation has further improved.
14 the most controversial federal tax cut: the bush administration in the early 20th century.
The government's tax reduction policy
In March of 20001year, the American economy reappeared in a downturn, which ended for a long time.
120 months of economic growth. The American tax system is unfair and tax evasion.
The serious drawbacks of taxation are undoubtedly exposed. After George W. Bush took office, he followed suit.
Reagan's tax cuts and spending increases are an attempt to boost the United States again with tax cuts.
China's economic growth. In the midst of opposition, the US Congress finally
200 1, reducing taxes through 10 135 trillion dollars? economic growth
Consistent with the tax reduction act # for a long time. Mainly to cut personal income tax, plan
It is planned to reduce the highest marginal tax rate of individual income tax from 396% to 396%.
33%, and simplify the tax rate hierarchy; Raise the tax credit limit for children
Amount, from $500 to $1000; Raise inheritance tax
Exempted, and plans to cancel the inheritance tax on 20 10. These subtractions
Tax measures have enabled the Bush administration to see the dawn of economic recovery. cloth
The government further accelerated the pace of tax reduction and passed it in 2002.
Employment creation and worker assistance act passed in 2003 #? hire
And propose 10 tax reduction.
350 billion plan.
A series of tax cuts by the Bush administration have been criticized by economists.
And the strong opposition of the general public. Research on the Effect of Bush's Tax Reduction Policy
How's it going? According to the report of the US Department of Commerce in July 2003,
In the second quarter of 2003, the American economy grew by 24%.
After exceeding the expected 18%, the economy began to recover, consumption,
A series of economic indicators such as investment, employment and inventory have all improved.
However, some critics believe that Bush's tax cuts are more conducive to middle and high income.
This class accumulated wealth because they gave 60% of their profits to those years.
People who earn more than $654.38 million+create the gap between the rich and the poor in American society.
And the unfairness has increased.
15 financial war: Obama meets the challenge of global financial crisis
Ma Xinzheng
The American subprime mortgage crisis, which began in August 2007, is worldwide.
Internal spread, financial market panic, international investment banks have.
The financial crisis plunged the United States into the longest economic recession since World War II.
Back to the cold winter. In order to save the American economy, Obama proposed a stimulus plan.
A package of employment growth plans. The key words of the Obama plan are
what's up Tax reduction%. He proposed that Congress pass a tax reduction bill to encourage small businesses.
Enterprises invest and hire more workers, the capital gains of new investment.
The tax will be reduced to zero in 1 year, and the tax reduction will be used for investment expenditure.
The validity period will be extended to the end of 20 10.
The introduction of Obama's tax reduction bill has a strong stage.
Features. In February 2008, the Obama administration announced the scale of tax cuts.
For $654.38+06.8 billion? # Economic stimulus act of 2008 #. In the same year 8
In September, the financial crisis worsened, and the Obama administration quickly took measures.
Passed? Emergency Economic Stability Act of 2008 # and? the year of 2008
Extend the tax (preferential) and minimum choice tax relief bill #, and put forward
A plan to reduce taxes by about 1 1000 billion dollars. Including renewable energy.
Extend tax incentives in four aspects: source, transportation and energy security.
Long-term disaster relief, raising the credit limit for children, etc. enter
After 2009, the US Congress passed it again? Stimulate economic law
For example, the scale of tax reduction is about 28 1 100 million dollars, creating 350.
Ten thousand jobs. To further control the fiscal deficit, Obama
Ma submitted the budget for 20 10 and the budget for 20 1 1 year to the National Assembly.
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Collection plan.
Judging from the development of tax reduction policy in the United States, there is one thing.
The obvious: economic depression, tax cuts and related
Tax reform is favored. Generally speaking, the practice of tax reduction in the United States
It has not hindered the development of the free market, it has gradually grown into
A long-term financial strategic choice. The Great Depression that began in America.
During this period, the real tax reduction has exceeded 70 times.
The history of 2000 is moderate and fair in terms of its actual effect.
Is it okay to reduce taxes? Awaken the economy of 90% capitalist countries, and
It has a broad expansion space.
2 Enlightenment from the evolution of American tax reduction policy
Focus on the tax cuts in the United States, is it Kennedy? appointment
Demand tax cuts in Hansen's time, supply tax cuts in Reagan's time, suppression
Or the Obama administration's package, tax cuts have been
It has become the main policy tool for the United States to stimulate economic growth, reflecting
Government's policy intention and the development trend of economic policy theory. it
It has brought about GDP growth, savings and investment increase, temporarily.
Alleviate inflation and other effects. Judging from the tax reduction calendar of the whole United States
In the historical evolution, we can get the following enlightenment.
2 1 Tax reduction is an important policy tool for the government to regulate the economy.
Use irreplaceable
The role of tax reduction policy is to influence the micro-economy of market economy.
The decision-making of the body is realized indirectly. For enterprises, taxation is an enterprise.
The important cost of investment activities. Take accelerated depreciation and investment.
Tax reduction policies such as capital credit will reduce the investment cost of enterprises and guide them to invest.
Resources are shifted from unproductive investment to productive use to expand production.
Scale, improve the expected profit rate of enterprise investment. For individuals,
Tax cuts will increase residents' disposable income and actively participate in various kinds of activities.
In investment activities, restraining leisure consumption is beneficial to labor supply.
Increase. Therefore, the tax reduction policy is to increase social savings, investment,
An effective employment policy tool is better than increasing government expenditure.
More effective. Therefore, policy makers should have a full understanding of tax reduction.
The position and importance of tax reduction policy in fiscal policy system
Sex, play its unique advantages in stimulating economic growth.
The tax reduction policy should pay equal attention to supply and demand and be adjusted in a timely manner.
The practice of tax reduction in the United States since the 1930s shows that,
What is tax reduction? Demand% and? Double effect of supply%, single effect
Neither demand nor supply will work. Supply and demand? Tianqi%
Imbalance will inevitably limit the maximum effect of tax reduction policy.
Demand determines supply, and supply in turn guides demand.
Function. If we only pay attention to the total demand, we will implement one-sided demand management.
Policy, will make the total supply and total demand imbalance, economic downturn? stagnant
Up%; If we only pay attention to the total supply, it will easily lead to economic recession or
Falling. Therefore, the designers of tax reduction policies should learn from the United States.
Try to find the best combination of various financial theories to avoid it.
There are hard and soft supply and demand, and the phenomenon of advancing when supply and demand are unbalanced.
Appropriate fine-tuning to achieve both supply and demand.
We should pay enough attention to the risk of tax reduction and carefully choose to reduce it.
Tax strategy
Judging from the historical practice of tax reduction in the United States, tax reduction has a great impact on the economy.
Exhibitions can play a promoting role. But the risk of tax reduction lies in the formulation of tax reduction policies and
The inevitable problems in implementation mainly include the following four aspects:
(1) affects the government's fiscal revenue and expenditure. In the short term,
Tax cuts directly reduce the government's fiscal revenue, which in turn will cause the government
Use to cut spending, and may bring a large fiscal deficit and
% of the high debt phenomenon; (2) Affect the allocation efficiency of resources. negative
The starting point of taxation is the economic development after the extension of tax policy.
The positive effect is actually to transfer some benefits to the public and trigger
Income redistribution between the state and taxpayers. If you cut taxes,
Improper use will lead to unequal competition among market players; ( 3)
Affect the seriousness and fixity of the tax system. The implementation of the tax reduction policy is
Partial adjustment or denial of tax policy, so it must be established.
The stability of the tax system has an impact. If at different times for different purposes
The lack of coordination between the target tax reduction policies aggravates taxes.
Complexity of the system; (4) There is a time lag in the tax reduction policy itself. negative
The policy effect of taxation is not as obvious and direct as that of increasing fiscal expenditure.
It has a certain lag effect, and its incentive effect on the economy is often
It takes a long time to stand out completely, especially in
Expand domestic demand and improve residents' purchasing power.
The risk of tax reduction is objective and will bring luck to the tax reduction policy.
Use increases the difficulty. This requires policymakers to learn from the tax reduction policy of the United States.
On the basis of summing up experience, we must pay full attention to the risk of tax reduction.
See. If the government has sufficient financial resources, it can consider implementing this plan.
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Strategy, and strive to control risks.
Tax reduction should be combined with the development of people's livelihood and strive to seek social equity.
Investigate the tax reduction policy from two aspects: employment and economic growth.
The mechanism and effect are not difficult. What is difficult is how to truly realize society through tax reduction.
It will be fair. Judging from the actual situation, the tax reduction bill in the United States has been criticized.
It is precisely the fairness of tax reduction that has been criticized and questioned the most.
Many scholars believe that the tax cuts in the United States have widened the gap between the rich and the poor, which is inconsistent.
In order to meet the needs of increasing the welfare and maximizing the benefits of low-income people, it
It is more conducive to the wealth accumulation of middle-and high-income classes and makes them vertically popular.
Peace is hard to achieve. Therefore, we should be conscious when designing tax reduction policies.
Tilt to low-income groups and vulnerable groups, focusing on reducing low income.
The tax burden of entering the class, and strive to improve the social security system,
Increase the supply of basic public goods, through various
People's livelihood% expenditure, increase the transfer expenditure and subsidies to low-income groups.
Strength, realize the tax reduction policy of maximizing fairness and efficiency.
These restrictions have worked.
Tax reduction should be implemented in coordination with other policies and play a role together.
Compared with the economic crisis in the 1930s, such as
Today, the level of economic development and macroeconomic environment in the United States have changed.
Great changes can be said that times have changed. But the tax cuts in the United States
Historical experience shows that while implementing the tax reduction policy,
Through fiscal, monetary, exchange rate and price leverage measures,
Let them work together. For example, the government can control
Money supply regulates the whole economy by issuing money.
Cooperate with tax reduction policy; When tax cuts lead to income exceeding expenditure, you can
Make up the financial gap by issuing government bonds; For peace
The fiscal revenue brought about by balanced tax reduction can be reduced by increasing.
Tax reduction policy, in some industries that do not affect the national economy and people's livelihood
Appropriately increase taxes, etc. In short, in order to cope with rigid fiscal expenditure
Out, so that the tax reduction policy has achieved the desired effect, avoiding personal rashness,
Tax reduction arrangements must be coordinated with other policies.
Take the exam and contribute.
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Economic Publishing, 1990: 1836
2. Anthony S. Campania: American National Economic Policy
19 17~ 1985, new york: Prager, 1987.
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4. Zhang Liancheng Ding Bing. Modern western economics [M]. China Jing
Ji publishing house, 2002: 97
The development of the united states and its enlightenment. tax-cutting policy
Tian Shuhui
(Jilin University, Changchun, China 1300 12)
Since the11930 s, the United States has implemented five large-scale tax cuts. History. In another
Word, America. His tax reduction story has a painful experience parallel to glory, but also twists and turns and glory. The thesis is mainly about
Pay attention to the development of the United States. Tax reduction, so as to further analyze its enlightenment and reference significance.
Keywords tax reduction policy; Tax burden; Development; Enlightenment; United States of America
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