Table A2
Regression of real GDP growth on the effective marginal tax rate on capital income (standard errors in parentheses)
| Lag on ∆(1-TR) | (1) | (2) | (3) | (4) |
|---|---|---|---|---|
| 1-year | -0.0215 | 0.026 | ||
| (0.0862) | (0.1294) | |||
| 2-year | 0.1134 | |||
| (0.1031) | ||||
| 3-year | 0.0375 | |||
| (0.0994) | ||||
| 4-year | 0.0196 | |||
| (0.1738) | ||||
| 5-year | 0.086 | 0.0489 | ||
| (0.0848) | (0.1194) | |||
| 6-year | 0.0539 | |||
| (0.1524) | ||||
| 7-year | 0.0797 | |||
| (0.0953) | ||||
| 8-year | 0.0998 | |||
| (0.1105) | ||||
| 9-year | -0.0939 | |||
| (0.1107) | ||||
| 10-year | -0.1124 | -0.1087 | ||
| (0.0773) | (0.0942) | |||
| F-Stat (joint) | 4.54*** | |||
| # observations | 51 | 51 | 46 | 42 |
*** Significant at the 1 percent level
Source: Author's analysis of Bureau of Economic Analysis National Income and Product Accounts data (Table 1.1.1) and Gravelle (2006)
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