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Keywords:Income tax 

Conference Paper
Tax reform and capital formation

Conference Series ; [Proceedings] , Volume 29 , Pages 103-152

Journal Article
The impact of an aging U.S. population on state tax revenues

As the baby boom generation retires, the nation?s labor force participation rate is expected to decline. And since most people earn less and spend less during retirement, the aging of the U.S. population will likely reduce income and sales tax revenue per capita for state governments. Felix and Watkins draw from data on different age groups? earning and spending patterns to assess how projected changes in the age distribution across the American population are likely to affect earning and spending?and therefore state revenue from income taxes and sales taxes. They find that demographic change ...
Economic Review , Issue Q IV , Pages 95-127

Journal Article
Current taxation of qualified pension plans: has the time come?

The U.S. Treasury estimates that personal income tax receipts in fiscal year 1992 would have been $51 billion higher without the special provisions accorded employer-sponsored pension plans. It is at best unclear that taxpayers are getting their moneys worth from this large tax expenditure. Despite a myriad of legislative changes, all of which combine to increase the likelihood that persons covered by pension plans will actually receive benefits, the U.S. pension system is still a very erratic and unpredictable way to provide retirement income and it benefits a relatively privileged subset of ...
New England Economic Review , Issue Mar , Pages 12-25

Journal Article
Fairness in economics

FRBSF Economic Letter

Journal Article
Kemp-Roth and saving

FRBSF Economic Letter

Working Paper
What does the capital income tax distort?

In addition to taxing future consumption (including leisure), capital income taxation subsidizes the consumption of durables. the taxation of future consumption may be characterized as an intertemporal distortion, while the subsidy to durables may be characterized as a static distortion. the magnitude of this intertemporal distortion has received considerable attention, but few analyses have dealt with the static distortion. ; This paper decomposes the excess burden arising from capital income taxation into its static and intertemporal components. the analysis is based on a life-cycle model ...
Working Papers (Old Series) , Paper 9013

Chaos, sunspots, and automatic stabilizers

We study a one-sector growth model which is standard except for the presence of an externality in the production function. The set of competitive equilibria is large. It includes constant equilibria, sunspot equilibria, cyclical and chaotic equilibria, and equilibria with deterministic or stochastic regime switching. The efficient allocation is characterized by constant employment and a constant growth rate. We identify an income tax-subsidy schedule that supports the efficient allocation as the unique equilibrium outcome. That schedule has two properties: (i) it specifies the tax rate to be ...
Staff Report , Paper 214

Working Paper
Government budgetary policies, economic growth, and currency substitution in a small open economy

This paper compares the macroeconomic consequences of alternative government budgetary policies in a small open economy where agents transact in both domestic and foreign currencies. An endogenous growth model is used to rank the effects of income-tax-financed and inflation-tax-financed government expenditures on the economy?s growth and inflation rates. Currency substitution provides an avenue for inflation-tax evasion and affects the rankings of the two modes of government finance. The analysis reveals that an increase in the size of government reduces the growth rate of the economy ...
Research Working Paper , Paper RWP 00-08

Journal Article
Taxation of capital income in a global economy: an overview

Taxation of income from capital is difficult in todays global economy, where financial markets are international, investments flow freely over national borders, and multinational corporations abound. Yet fairness and equity require that capital income be taxed. ; This article reviews the options for achieving improved harmonization of taxation within the European Community (EC). A formula apportionment system, such as exists in the United States, could help EC countries curb tax avoidance by corporations that shift income away from subsidiaries in high-tax areas. The author also considers the ...
New England Economic Review , Issue Sep , Pages 33-52

Journal Article
The mystery of falling state corporate income taxes

The share of corporate profits in the U.S. collected by state governments via the corporate income tax has fallen sharply in the past quarter century. Some commentators have even referred to this as the "disappearance" of the state corporate income tax (SCIT). Such claims, of course, are an exaggeration--after all, a longer perspective reveals that the share of profits collected by state corporate income taxes was actually lower in the 1960s than it is now. Nonetheless, state public finance experts and state policymakers surely are correct in noting that, since around 1980, corporate ...
FRBSF Economic Letter



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Altig, David E. 8 items

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Carroll, Daniel R. 2 items

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Income tax 73 items

Taxation 23 items

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