Regulation and revenue |
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| Authors: | Geoffrey Brennan Hartmut Kliemt |
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| Institution: | (1) RSSS, ANU, Canberra, Australia;(2) Frankfurt School of Finance and Management, Sonnemannstr. 9-11, 60314 Frankfurt-am-Main, Germany |
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| Abstract: | The power to tax and the power to regulate are often analyzed separately. We argue that, when in the hands of a single authority,
the power to tax may act as a check on the power to regulate, thereby discouraging regulations that adversely affect GDP,
and promoting regulations that enhance GDP. This effect will be stronger the higher are (marginal) taxes. This argument is
used both to suggest an explanation for the observed positive correlation between high taxes and economic freedom, and to
warn against the granting of regulatory but not fiscal powers at the European level.
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| Keywords: | Regulation Taxation Constitutional design |
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