Quarterly Journal of Austrian Economics
Author:
Valerio Filoso
Online Publish Date:
followed by US and Germany, with the average level of corporate taxes in the EU declining from 38 percent in 1993 to 24.2 percent in 2007 (KPMG, 2007). This trend (1962) proves that the tax is fully passed backward to capital owners. Feldstein, Green, and Sheshinski (1979) demonstrate that backward shifting is impossible in the the incentive to engage in entrepreneurship and (2) changes the way entrepreneurs deal with profits and losses. The first effect depends on the margins of substitution