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¥Æ¡¼¥Þ¡§¡ÈThe Effect of Tax Credit to Politically Distorted¡¡Allocations¡É
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Many countries adopt policies to give preferential treatment for voluntary¡¡contributions to certain public goods. Taxable deductions, matching subsidy¡¡and rebate subsidy, which decrease ¡Èthe price of giving¡É, are the prototypical¡¡examples. However, more aggressive policy, tax credit for voluntary¡¡contributions to certain public goods, which decreases ¡Èthe price of giving¡É to¡¡zero, is not studied so far in detail although such a policy can be seen in a¡¡few countries: Percentage Law in Hungary, Lithuania, Poland, Romania¡¡and Slovakia, and Hometown Tax-payment policy in Japan. In these¡¡countries, such a policy is justified because, by decentralizing the power of¡¡government, such a policy gives individuals to reveal individuals¡Ç ¡Ètrue¡É¡¡preferences and thus gives necessary adjustment for distorted government¡¡allocations. In this paper, I found that, such a policy has this adjustment¡¡effect if and only if the size of tax credit exceeds certain threshold. In other¡¡words, such a policy is totally cancelled out by lobby-government coalition if¡¡the size if it falls beneath the threshold.

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