continuare

The theory that increasing investment in building and machinery is the fundamental determinant of growth was disproved by Nobel Laureate Robert Solow as early as 1956. Moreover, Domar, complaining of an ever-guilty conscience, admitted in 1957 that his theory made no sense for long-run growth and instead endorsed Solow's growth theory. Solow argued that technological change is the only source of sustained growth. He showed that as capital per worker increases, the marginal productivity of capital declines until the capital-labor ratio approaches a steady-state level. At that point, savings are just sufficient to replace worn out machines and equip new workers (assuming population growth), so productivity growth is zero. It is technological progress that increases the supply of "effective" labor, thus keeping the capital-labor ratio going and preventing the decline of marginal returns to capital.

The belief that investment was the key to growth affected not only international institutions and U.S. foreign policy, but domestic policy as well. Two major forms of goverment intervention inducing businesses to expand the level of their outlays for plant and machinery were added to the tax code: accelerated depreciation deductions were introduced in 1954 and significantly expanded in 1981 and the investment tax credit was added in 1962. The latter was repealed in the tax reform of 1986, but accelerated depreciation deductions are still considered important for economic growth and are very significant in terms of tax revenue forgone.

More recently, The Job Creation and Worker Assistance Act of 2002 allowed taxpayers to deduct 30% of the cost of capital assets in their first year. The President Bush said: "this new law will provide tax incentives for companies to expand and create jobs by investing in plant and equipment".

Completare:

Procentul de deducere a valorii activelor din primul an modificat in 2002 la 30% a fost crescut la 50% in 2003, probabil au constatat ca au ceva rezultate :))))

Da, in principiu cred ca autorul articolului are dreptate, amortizarea accelerata nu este ea singura un panaceu pentru cresterea economica insa, cred ca avind in completare deducerea in proportie cat mai mare a valorii activelor (spre 100% :)))) inca din primul an ar putea da o mana de ajutor la cresterea economica si creearea de locuri de munca sustinind ideea de crestere economica generata atat de investitii in fabrici si echipamente dar si de cercetare si dezvoltare tehnologica.
Concept de bun simt, simplu si verificat.