Kimberly A. Clausing (UCLA; Google Scholar), Capital Taxation and Market Energy:

In current a long time, market energy has elevated considerably, based on a number of measures that describe business focus, mark-ups, and enterprise profitability. Whereas market energy can generate advantages, it additionally raises vexing coverage considerations, together with the potential for antagonistic results on labor markets, revenue inequality, and the dynamism of market competitors. The idea of market energy additionally has implications for the way we conceptualize capital revenue, making it vital to tell apart between regular and above-normal returns to capital. The tax system taxes each forms of returns to capital, however usually imperfectly and incompletely. Full consideration of the connection between market energy and capital revenue suggests vital implications for optimum capital taxation design, together with the function of entity taxation, the usage of graduated enterprise tax charges, and worldwide tax reform.

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