比较财政课件019.ppt

Effects on Efficiency of Full Integration Misallocation of resources between corporate and non-corporate sectors eliminated Tax-induced distortions in savings decisions reduced Remove incentive for “excessive” retained earnings Reduce bias toward debt financing * * * * * * * * * * * * * * * * * * * $100,000 investment 35% corporate tax rate 10 year tax life straight-line depreciation 10% discount rate * $100,000 investment 35% corporate tax rate 5 year tax life straight-line depreciation 10% discount rate * $100,000 investment 35% corporate tax rate 10 year tax life double declining balanc