Regression of real GDP growth on the statutory corporate tax rate (standard errors in parentheses)
| Lag on ∆(1-TR) | (1) | (2) | (3) | (4) |
|---|---|---|---|---|
| 1-year | -0.0809 | 0.1835 | ||
| (0.1827) | (0.1530) | |||
| 2-year | 0.0611 | |||
| (0.1388) | ||||
| 3-year | -0.0562 | |||
| (0.292) | ||||
| 4-year | -0.1047 | |||
| (0.1857) | ||||
| 5-year | -0.0049 | 0.1113 | ||
| (0.0931) | (0.1722) | |||
| 6-year | -0.0878 | |||
| (0.1661) | ||||
| 7-year | 0.244 | |||
| (0.2709) | ||||
| 8-year | 0.0094 | |||
| (0.3148) | ||||
| 9-year | -0.0193 | |||
| (0.1327) | ||||
| 10-year | -0.0529 | -0.0552 | ||
| (0.1542) | (0.1915) | |||
| F-Stat (joint) | 1.32 | |||
| # observations | 61 | 60 | 55 | 55 |
Source: Author's analysis of Bureau of Economic Analysis National Income and Product Accounts data (Table 1.1.1) and Internal Revenue Service Historical Table 24