Capital, Taxes and Growth
This report is based on the neoclassical economic theory of capital, adopted by most of the leading capital theory economists of the 20th century. The theory is consistent with the last 37 years of empirical evidence and the observations of economists extending back into the 19th century. Among the report's most important conclusions - supported by both theory and evidence is that the aftertax rate of return on capital tends to be constant:
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