 In particular, if externally provided capital is in perfectly elastic supply to a country, then capital cannot bear any part of the tax burden in the long run, and it is quite possible for labor to bear more than 100 percent of the burden of the corporate income tax.He views the open-economy case as relevant for the analysis of a single country's choice of tax rate, with the closed-economy model as applying to the effects of a general movement of worldwide corporate tax rates in the same direction, such as the decline that has been observed over the past several decades.A summary of his views on the practical policy considerations regarding the corporate income tax in particular countries can be found in his 2008 paper.