US federal tax policy: The evolution of percentage depletion for minerals |
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Authors: | Robert C Anderson Alan S Miller Richard D Spiegelman |
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Institution: | The Environmental Law Institute, 1346 Connecticut Avenue NW, Washington, DC 20036, USA |
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Abstract: | We are often tempted to believe that a nation's resource policy is the result of careful deliberation and conscious design and is articulated in a relatively few statutes. This paper traces the history of percentage depletion in the USA and finds that this particular resource policy has evolved in the absence of a recognizable master plan. Percentage depletion has developed through a continuing political tug-of-war in the US Congress as a seemingly unending array of special interest groups sought and finally gained the prize of percentage depletion for their industry. |
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