Impacts of Corporate Tax Cuts on Firms and Workers: Evidence from Small Businesses
American Economic Journal: Economic Policy · 2026 · Yige Duan、Terry S. Moon
中文摘要
本文评估企业减税对小企业及其工人的影响。在加拿大魁北克省的一项改革之后,与未获得减税的企业和工人相比,获得减税的企业实现扩张,其工人的收入增加。我们估计,工人总体承担了 35% 的税负,其中更大的税负归宿落在在其所任职公司持股的工人身上,其渠道是利润增加。此外,企业内部收入分布各三分位区间的工人都从减税中受益,这可能是因为在小企业内部工人之间联系紧密的环境中,当税后利润上升时,公平工资方面的考量会发挥作用。
Abstract
This paper assesses the effects of corporate tax cuts on small firms and their workers. Following a reform in Quebec, Canada, firms receiving tax cuts expand and their workers' earnings increase compared to workers and firms without tax cuts. We estimate that overall workers bear 35 percent of the tax burden, with larger incidence falling on those with ownership in the companies they work at, through increased profits. Additionally, workers across each tercile of the within-firm earnings distribution benefit from tax cuts, possibly because fair-wage concerns matter when after-tax profits rise due to close interactions among workers in small corporate environments.