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NBER: Warning Regarding "Economists Letter in Favor of Tax Competition"
Subject: Warning Regarding "Economists Letter in Favor of Tax Competition"
From: Charles E. McLure (mclure@hoover.stanford.edu)
Date: Tue May 15 2001 - 18:04:45 EDT
Members of the NBER program in Public Economics:
The message that follows was sent to the distribution list(s) indicated in
an effort to get economists to sign the attached draft letter to President
Bush "in favor of tax competition." Most of us would probably favor tax
competition and oppose an international agreement to place a floor under
tax rates, for roughly the reasons indicated in the draft letter to
President Bush. But that its not what this is about. The OECD initiative
in question is not about tax competition as we would understand
it. Rather, it is a multilateral effort by the members of OECD to stop the
use of off-shore TAX HAVENS and similar preferential regimes in member
countries to undermine the tax systems of all nations. (If you want to
know more about this, go to http://WWW.OECD.ORG/daf/fa/harm_tax/harmtax.htm
and follow the links.) I personally believe that the OECD initiative is
generally sensible and believe that the U.S. government should support it
and thus hope that you will not sign the above-mentioned letter if asked to
do so -- and will retract your signature if you have already unwittingly
signed it. Also, please share this with your colleagues in economics,
business, and international tax law.
I wonder whether any of you would be willing, in principle, to sign a
letter to President Bush exposing the inaccuracy of the arguments expressed
in the attached letter. If so, please so indicate by return e-mail.
If there is enough interest in a response I would like to work with a few
of those who are interested to draft such a letter quickly. I will be out
of the office most of tomorrow and all of Thursday, but will be available
to work on it on Friday . Maybe anyone who is interested in working on a
response can so indicate immediately by e-mail and I will put you in touch
with each other tomorrow morning so you can get started.
Charles McLure
Senior Fellow
Hoover Institution
>From: "Mitchell, Dan" <dan.mitchell@heritage.org>
>To: 'John Taylor' <johntayl@leland.Stanford.EDU>, "Alan C. Stockman"
> <alan@stockman.net>, Aldona Robbins <garobbins@worldnet.att.net>,
> "Allan H. Meltzer" <am05@andrew.cmu.edu>, Andrew Atkeson
> <andy@atkeson.net>, Anil Kashyap <anil.kashyap@gsb.uchicago.edu>,
> "Anna J. Schwartz" <aschwartz@gc.cuny.edu>, Anne Krueger
> <akrueger@Stanford.EDU>, Annelise Anderson
> <andrsn@andrsn.stanford.edu>,
> "Balke, Nathan" <nbalke@post.cis.smu.edu>, Barry R Chiswick
> <brchis@uic.edu>, BBart12561@cs.com, Ben Bernanke
> <bernanke@Princeton.EDU>, "Bennett T. McCallum"
> <bm05+@andrew.cmu.edu>,
> Bill Schwert <schwert@schwert.ssb.rochester.edu>, Brian Hall
> <bhall@hbs.edu>, "Brian S. Wesbury" <bwesbury@sprynet.com>,
> Burton Malkiel <bmalkiel@Princeton.EDU>, Carmen Reinhart
> <reinhart@econ.umd.edu>, Charles Calomiris <cc374@columbia.edu>,
> "Charles E. McLure" <mclure@hoover.stanford.edu>, Charles Nelson
> <cnelson@u.washington.edu>, "Charles R. Plott"
> <cplott@hss.caltech.edu>,
> Christopher DeMuth <cdemuth@aei.org>, "David F. Bradford"
> <bradford@Princeton.EDU>, dmalpass@bear.com, Douglas Holtz-Eakin
> <Djheakin@maxwell.syr.edu>, Douglas Irwin
> <douglas.irwin@Dartmouth.EDU>,
> "ECONOMIDES, Nicholas" <neconomi@stern.nyu.edu>, Ed Glaeser
> <eglaeser@kuznets.fas.harvard.edu>, "Edward C. Prescott"
> <prescott@econ.umn.edu>, Edward Lazear <lazear@gsb.stanford.edu>,
> Eric Fisher <fisher.244@osu.edu>, Finis Welch <frw@econsulting.com>,
> "Franklin R. Edwards" <fre1@columbia.edu>, George Borjas
> <gborjas@harvard.edu>, Glenn Hubbard <rgh1@columbia.edu>, Harvey
> Rosen
> <hsr@Princeton.EDU>, Howard Beales <beales2@home.com>, "j.d. foster"
> <jdfoster@erols.com>, "James L. Sweeney" <jim.sweeney@Stanford.EDU>,
> "John C. Goodman" <jcgoodman@ncpa.org>, john raisian
> <jr@hoover.stanford.edu>, John Seater <seater@COMFS1.COM.NCSU.EDU>,
> John Taylor <johntayl@Stanford.EDU>, johnbtaylor@Stanford.EDU,
> Judyshel@aol.com, June Oneill <June_Oneill@baruch.cuny.edu>, Ken
> Rogoff
> <krogoff@harvard.edu>, khecon@mindspring.com, "Kreps, David"
> <kreps_david@gsb.stanford.edu>, "Kristin J. Forbes"
> <kjforbes@MIT.EDU>,
> Lawrence Hunter <hunterl@empower.org>, Lawrence Lau
> <ljlau@Stanford.EDU>,
> "Levy, Mickey" <mlevy@bofasecurities.com>, "MacAvoy, Paul"
> <paul.macavoy@yale.edu>, Mackcon2@aol.com, Makin John
> <makin@caxton.com>,
> Martin Anderson <mca@hoover.stanford.edu>, Martin Eichenbaum
> <eich@northwestern.edu>, Martin Feldstein <msfeldst@nber.org>,
> Marvin Kosters <mkosters@aei.org>, Michael Bordo
> <BORDO@economics.Rutgers.EDU>, "Michael C. Jensen"
> <MJensen@hbs.edu>,
> "Michael E. Porter" <mporter@hbs.edu>,
> Michael.M.Knetter@Dartmouth.EDU,
> Michael Melvin <mmelvin@asu.edu>, Michael Pries
> <Pries@econ.bsos.umd.edu>,
> "Michael R. Darby" <mdarby@anderson.ucla.edu>, "N. G. Mankiw"
> <ngmankiw@fas.harvard.edu>, Patrick Kehoe
> <pkehoe@res.mpls.frb.fed.us>,
> Paul Evans <pevans@econ.ohio-state.edu>, Peter Reiss
> <preiss@Stanford.EDU>, "PLOSSER, CHARLES"
> <PLOSSER@simon.rochester.edu>,
> prubin@gnt.net, Rene Stulz <stulz@babble.cob.ohio-state.edu>,
> Richard Clarida <rhc2@columbia.edu>, Richard Schmalensee
> <rschmal@MIT.EDU>, Robert Dunn <rmdunn@gwis2.circ.gwu.edu>,
> "Robert G. King" <rgk4m@cms.mail.virginia.edu>, Robert Helms
> <rhelms@aei.org>, Robert Hodrick <rh169@columbia.edu>,
> "Robert J. Rossana" <r.j.rossana@wayne.edu>, "Robert W. Hahn"
> <hahnr@erols.com>, "Scholes, Myron" <MScholes@oakhillcapital.com>,
> Sebastian Edwards <sebastian.edwards@anderson.ucla.edu>, Sherwin
> Rosen
> <srosen@midway.uchicago.edu>, johnbtaylor@Stanford.EDU,
> "Stephen Entin (at IRET)" <iret_entin@ibm.net>, Steven Kaplan
> <steven.kaplan@gsb.uchicago.edu>, stoc@troi.cc.rochester.edu,
> "Terry L. Anderson" <tla@perc.org>, Thomas Kniesner
> <TKniesne@maxwell.syr.edu>, Thomas Moore
> <moore@hoover.stanford.edu>,
> "Thomas R. Saving" <trs9019@unix.tamu.edu>, Thomas Sargent
> <sargent@Stanford.EDU>, "thomas.willett" <thomas.willett@cgu.edu>,
> Tim Muris <TJM1149@mgfairfax.rr.com>, tfuerst@cba.bgsu.edu,
> Tomas Philipson <t-philipson@uchicago.edu>, tonyvillamil@aol.com,
> "V. V. Chari" <chari@res.mpls.frb.fed.us>, Vernon Smith
> <smith@nt.econlab.arizona.edu>, Virginia Bennett
> <Bennett@hoover.stanford.edu>, "W. Kip Viscusi"
> <kip@law.harvard.edu>,
> Ward S Curran <ward.curran@mail.cc.trincoll.edu>, "William R. Dougan"
> <douganw@CLEMSON.EDU>
>Subject: Economists Letter in Favor of Tax Competition
>Date: Tue, 15 May 2001 11:48:49 -0400
>X-Mailer: Internet Mail Service (5.5.2653.19)
>
>The attached letter in defense of international tax competition already has
>been signed by nearly 200 economists, including Milton Friedman (if you
>already have signed, thank you and apologies for the duplication).
>
>We are hoping to send the letter to the President on Monday. If you would
>like to be listed, just reply with a statement to that effect.
>Thank you,,
>Dan Mitchell
> <<Economist letter.doc>>
>
>Daniel J. Mitchell, Ph.D.
>Senior Fellow
>The Heritage Foundation
>202.608.6224
>dan.mitchell@heritage.org <mailto:dan.mitchell@heritage.org>
>www.heritage.org
>
>
> -----Original Message-----
> From: John Taylor [mailto:johntayl@leland.Stanford.EDU]
> Sent: Friday, September 01, 2000 12:56 PM
> To: Alan C. Stockman; Aldona Robbins; Allan H. Meltzer;
>Andrew Atkeson; Anil Kashyap; Anna J. Schwartz; Anne Krueger; Annelise
>Anderson; Balke, Nathan; Barry R Chiswick; BBart12561@cs.com; Ben Bernanke;
>Bennett T. McCallum; Bill Schwert; Brian Hall; Brian S. Wesbury; Burton
>Malkiel; Carmen Reinhart; Charles Calomiris; Charles E. McLure; Charles
>Nelson; Charles R. Plott; Christopher DeMuth; David F. Bradford;
>dmalpass@bear.com; Douglas Holtz-Eakin; Douglas Irwin; ECONOMIDES, Nicholas;
>Ed Glaeser; Edward C. Prescott; Edward Lazear; Eric Fisher; Finis Welch;
>Franklin R. Edwards; George Borjas; Glenn Hubbard; Harvey Rosen; Howard
>Beales; j.d. foster; James L. Sweeney; John C. Goodman; john raisian; John
>Seater; John Taylor; johnbtaylor@Stanford.EDU; Judyshel@aol.com; June
>Oneill; Ken Rogoff; khecon@mindspring.com; Kreps, David; Kristin J. Forbes;
>Lawrence B. Lindsey; Lawrence Hunter; Lawrence Lau; Levy, Mickey; MacAvoy,
>Paul; Mackcon2@aol.com; Makin John; Martin Anderson; Martin Eichenbaum;
>Martin Feldstein; Marvin Kosters; Michael Bordo; Michael C. Jensen; Michael
>E. Porter; Michael.M.Knetter@Dartmouth.EDU; Michael Melvin; Michael Pries;
>Michael R. Darby; Mitchell, Dan; N. G. Mankiw; Patrick Kehoe; Paul Evans;
>Peter Reiss; PLOSSER, CHARLES; prubin@gnt.net; Rene Stulz; Richard Clarida;
>Richard Schmalensee; Robert Dunn; Robert G. King; Robert Helms; Robert
>Hodrick; Robert J. Rossana; Robert W. Hahn; Scholes, Myron; Sebastian
>Edwards; Sherwin Rosen; johnbtaylor@Stanford.EDU; Stephen Entin (at IRET);
>Steven Kaplan; stoc@troi.cc.rochester.edu; Terry L. Anderson; Thomas
>Kniesner; Thomas Moore; Thomas R. Saving; Thomas Sargent; thomas.willett;
>Tim Muris; tfuerst@cba.bgsu.edu; Tomas Philipson; tonyvillamil@aol.com; V.
>V. Chari; Vernon Smith; Virginia Bennett; W. Kip Viscusi; Ward S Curran;
>William R. Dougan
> Subject: Economists Statement on Bush Plan
>
> This is to let you know that an ad with the economists'
>statement about the
> Bush economic plan and all the people who signed it will be
>placed in
> certain key regional editions of the Wall Street Journal
>early next week.
> Your name will be listed and there is a chance that you may
>be called about
> it from the press.
>
> I am happy to say that many economists have signed on. A lot
>of information
> about the plan can be found at www.georgewbush.com
>
> Thanks very much.
>
> John
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