Community care in Scotland

This ethnological perspective of Community Care in Scotland will focus on historical, political, and social contexts and their influences on the community care arrangements for individuals within various types of communities in Scotland today

Alien Registration- Mason, Gordon (Fort Fairfield, Aroostook County)

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How Much Do Taxes Discourage Incorporation.

One of the most basic distortions created by the double taxation of corporate income is the disincentive to incorporate. In this paper, we investigate the extent to which the aggregate allocation of assets and taxable income in the U.S. between corporate vs. noncorporate forms of organization during the period 1959-86 has responded to the size of the tax distortion discouraging firms from incorporating. In theory, profitable firms should shift out of the corporate sector when the tax distortion to incorporating is larger, and conversely for firms with tax losses. Our empirical results provide strong support for these theoretical forecasts, and hold consistently across a wide variety of specifications and measures of the tax variables. Measured effects are small, however, throwing doubt on the economic importance of tax-induced changes in organizational form.

Why Is There Corporate Taxation In a Small Open Economy? The Role of Transfer Pricing and Income Shifting

Several recent papers argue that corporate income taxes should not be used by small, open economies. With capital mobility, the burden of the tax falls on fixed factors (e.g., labor), and the tax system is more efficient if labor is taxed directly. However, corporate taxes not only exist but rates are roughly comparable with the top personal tax rates. Past models also forecast that multinationals should not invest in countries with low corporate tax rates, since the surtax they owe when profits are repatriated puts them at a competitive disadvantage. Yet such foreign direct investment is substantial. We suggest that the resolution of these puzzles may be found in the role of income shifting, both domestic (between the personal and corporate tax bases) and cross-border (through transfer pricing). Countries need cash-flow corporate taxes as a backstop to labor taxes to discourage individuals from converting their labor income into otherwise untaxed corporate income. We explore how these taxes can best be modified to deal as well with cross-border shifting.

Effects of the Tax Reform Act of 1986 on Corporate Financial Policy and Organizational Form

We examine the effects of the Tax Reform Act of 1986 on the financial decisions made by firms. We review the theory and empirical predictions of prior literature for corporate debt policy, for dividend and equity repurchase payouts to shareholders, and for the choice of organizational form. We then compare the predictions to post-1986 experience. The change in debt/value ratios has been substantially smaller than expected. Dividend payouts increased as predicted, but stock repurchases increased even more rapidly which was unexpected and is difficult to understand. Based on very scant data, it appears that some activities have shuffled among organizational forms; in particular, loss activities may have been moved into corporate form where they are deducted at a higher tax rate, while gain activities may have shifted towards noncorporate form, to be taxed at the lower personal rates. In addition, several interesting new issues are raised. One concerns previously neglected implications for the effective tax on retained earnings that follow from optimal trading strategies when long- and short-term capital gains are taxed at different rates. Also, new interest allocation rules for multinational corporations provide a substantial incentive for many firms to shift their borrowing abroad.

FuncADL: Functional Analysis Description Language

The traditional approach in HEP analysis software is to loop over every event and every object via the ROOT framework. This method follows an imperative paradigm, in which the code is tied to the storage format and steps of execution. A more desirable strategy would be to implement a declarative language, such that the storage medium and execution are not included in the abstraction model. This will become increasingly important to managing the large dataset collected by the LHC and the HL-LHC. A new analysis description language (ADL) inspired by functional programming, FuncADL, was developed using Python as a host language. The expressiveness of this language was tested by implementing example analysis tasks designed to benchmark the functionality of ADLs. Many simple selections are expressible in a declarative way with FuncADL, which can be used as an interface to retrieve filtered data. Some limitations were identified, but the design of the language allows for future extensions to add missing features. FuncADL is part of a suite of analysis software tools being developed by the Institute for Research and Innovation in Software for High Energy Physics (IRIS-HEP). These tools will be available to develop highly scalable physics analyses for the LHC.Comment: 7 pages. Submitted to vCHEP 202