This week’s Tax Foundation podcast features Douglas Shackleford on the Future of the Corporate Income Tax and the Effect of Tax Policy on the Stock Market:
How does tax policy affect the pricing and trading of stocks? Should we tax publicly traded companies differently from privately held firms, and how would this affect double taxation? Now that electronic commerce and intangibles such as information and technology have begun to replace the “bricks and mortar” economy, what role, if any, should the corporate income tax play in this new economy? In this podcast, Douglas Shackleford, Meade H. Willis Distinguished Professor of Taxation and Director of the University of North Carolina Tax Center, Senior Associate Dean for Academic Affairs at Kenan-Flagler Business School at the University of North Carolina, and Research Associate in Public Economics at the National Bureau of Economic Research, discusses the effect of tax policy, especially cuts in capital gains and dividend taxes, on the stock market; double taxation; the conformity of book accounting and tax accounting; and the viability of the corporate income tax in an economy increasingly comprised of intangible goods. (18 minutes, 2 seconds)
