JW Mason has a great find and post about the R&D tax credit that made me laugh:
Goolsbeeism
Obama to propose $100 billion permanent extension of research and development tax credit.
Looks like Goolsbee is the perfect pick to succeed Romer — his advice is already being ignored even before he’s been hired.
From his Investment Tax Incentives, Prices, and the Supply of Capital Goods:
Although there appears to be an abiding faith among policy makers that tax incentives can influence the investment decisions of firms and serve as a tool for stabilizing the economy, empirical evidence for the connection is weak. Econometric research has commonly found that tax policy and the cost of capital have little effect on real investment. Economic theory predicts that the marginal user cost of capital should be the primary…
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Utopia, you are standing in it! 
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