@techreport{NBERw0530,
 title = "Does the Investment Interest Limitation Explain the Existence of Dividends?",
 author = "Daniel R. Feenberg",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "530",
 year = "1982",
 month = "February",
 URL = "http://www.nber.org/papers/w0530",
 abstract = {Miller and Scholes show that under certain conditions the Federal Income tax taxes dividend income at a rate no higher than the rate on capital gains. Tabulations of actual 1977 tax returns show that the special circumstances under which this can occur apply to less than 3% of dividend income and no significant role can be ascribed to their result in the determination of corporate dividend policy.},
}