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April 2012 Policy Study, Number 12-5

   

The Negative Consequences for Iowa of an Enterprise Value Tax

   

Endnotes:

   

 

[1] “The American Jobs Act,” President Obama’s legislative proposal to Congress, submitted 12 September 2011, p. 141, http://www.whitehouse.gov/sites/default/files/omb/legislative/reports/american-jobs-act.pdf accessed 13 January 2012.
[2] “The Taxation of Carried Interest,” Testimony of Peter R. Orszag, Director of the Congressional Budget Office, before the Committee on Ways and Means, U.S. House of Representatives, 6 September 2007, http://www.cbo.gov/doc.cfm?index=8599&type=0 accessed 13 January 2012.
[3] Hazel Bradford, “Obama’s proposed enterprise value tax has managers worried,” Pensions & Investments Research Center, 14 November 2011, http://www.pionline.com/article/20111114/PRINTSUB/311149908 accessed on 12 January 2012. As originally written, the tax would have gone into effect if there was even $1 of carried interest! Pushback against this draconian proposal resulted in the more “moderate” current version. For a more detailed discussion of these issues, see: http://www.kirkland.com/siteFiles/Publications/Article percent20PDF percent20- percent20PRINTING percent20ALLOWED percent20 percent20Tax percent20Notes percent20(Carried percent20Interest percent20Legislative percent20Proposals_ percent20Levin) percent20Nov. percent202010.pdf.
[4] Nansen Malin, “Meet the Enterprise Value Tax: Pit-stop on the Road to Higher Capital-gains Rates,” posted on NW Daily Marker, 1 December 2011 http://www.nwdailymarker.com/2011/12/meet-the-enterprise-value-tax-pitstop-on-the-road-to-higher-capital-gains-rates accessed on 12 January 2012.
[5] J. Scott Moody, “The Economic Impact of an Enterprise Value Tax,” Washington Policy Center Policy Note, November 2011, p. 1
[6] Alan Patricof, “Unintended Consequences of the Enterprise Value Tax,” posted to Huff Post Business, 18 June 2010, http://www.huffingtonpost.com/alan-patricof/unintended-consequences-o_b_617120.html accessed on 12 January 2012.
[7] Ibid.
[8] Bradford, p. 3.
[9] Donald P. Racheter, Iowa Government and Politics, Octagon Press, Muscatine, IA, 2010 edition, p. 32.
[10] Dave Swenson and Liesl Eathington, “Multiple Measures of the Role of Agriculture in Iowa’s Economy,” http://www2.econ.iastate.edu/research/webpapers/paper_10180.pdf accessed on 24 January 2012.
[11] Michael Duffy and Willy Klein, “Farmland Value Reaches Historic $6,708 Statewide Average,” http://www.extension.iastate.edu/article/2011land-value-survey accessed on 24 January 2012.
[12] 2000 Statewide average, all grades of land, Iowa State University Extension and Outreach Land Value Survey; http://www.extension.iastate.edu/Pages/communications/LVS2000/01OH00.html accessed on 24 January 2012.
[13] “Warren Buffett offers to match GOP gifts to reduce the national debt,” Omaha, Neb, Associated Press report in The Cedar Rapids Gazette, 12 January 2012, p. 7 A.
[14] See <http://strongamericanow.org/plan> for details. Accessed on 12 January 2012.
[15] Patricof.
[16] David G. Tuerck, Paul Bachman, and Frank Conte, “The Enterprise Value Tax: What it Means for the Massachusetts Economy,” Beacon Hill Institute Policy Study, December 2011, http://www.beaconhill.org/BHIStudies/EVT-2011/BHI-EnterpriseValue2011-1130.pdf accessed 13 January 2012.

 

   

 

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