Download or read book Impact of Tax Changes on Income Distribution written by Charles Victor Brown and published by . This book was released on 1971 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Macroeconomic and Distributional Effects of Personal Income Tax Reforms written by Mrs.Sandra V Lizarazo Ruiz and published by International Monetary Fund. This book was released on 2017-09-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses the macroeconomic and distributional impact of personal income tax (PIT) reforms in the U.S. drawing on a multi-sector heterogenous agents model in which consumers have non-homothetic preferences and sectors differ in terms of their relative labor and skill intensity. The model is calibrated to key characteristics of the US economy. We find that (i) PIT cuts stimulate growth but the supply side effects are never large enough to offset the revenue loss from lower marginal tax rates; (ii) PIT cuts do “trickle-down” the income distribution: tax cuts stimulate demand for non-tradable services which raise the wages and employment prospects of low-skilled workers even if the tax cut is not directly incident on them; (iii) A revenue neutral tax plan that reduces PIT for middle-income groups, raises the consumption tax, and expands the Earned Income Tax Credit can have modestly positive effects on growth while reducing income polarization; (iv) The growth effects from lower income taxes are concentrated in non-tradable service sectors although the increased demand for tradable goods generate positive spillovers to other countries; (v) Tax cuts targeted to higher income groups have a stronger growth impact than tax cuts for middle income households but significantly worsen income polarization, even after taking into account trickle-down effects and an expansion of the Earned Income Tax Credit.

Download or read book Tax Progressivity and Income Inequality written by Joel Slemrod and published by Cambridge University Press. This book was released on 1996-10-13 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book assembles nine papers on tax progressivity and its relationship to income inequality, written by leading public finance economists. The papers document the changes during the 1980s in progressivity at the federal, state, and local level in the US. One chapter investigates the extent to which the declining progressivity contributed to the well-documented increase in income inequality over the past two decades, while others investigate the economic impact and cost of progressive tax systems. Special attention is given to the behavioral response to taxation of high-income individuals, portfolio behavior, and the taxation of capital gains. The concluding set of essays addresses the contentious issue of what constitutes a 'fair' tax system, contrasting public attitudes towards alternative tax systems to economists' notions of fairness. Each essay is followed by remarks of a commentator plus a summary of the discussion among contributors.

Download or read book The Impact of Tax Changes on Income Distribution written by Peter McLeod Jackson and published by . This book was released on 1973 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Economic Impacts of Tax Transfer Policy written by Fredrick L. Golladay and published by Elsevier. This book was released on 2013-10-22 with total page 217 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economic Impacts of Tax—Transfer Policy: Regional and Distributional Effects deals with evaluating proposed income-transfer policies through tax modeling. The book analyzes the direct and indirect effects of two variants of a negative income tax plan. These are the standard negative income tax and the Family Assistance Plan. By studying the indirect effects of income-maintenance programs on industries, occupations, and different regions, the authors point to understanding the effectiveness of alternative income-maintenance programs. Proposed changes in national taxes and transfer policies aim to achieve income redistribution. In their studies and models, the authors noted that the full impact of these tax policies throughout the income spectra covering different income classes, industries, occupations, and regions is different from that gathered from observations involving the direct effects of these schemes. The authors cite some policy implications resulting from their study, such as the redistributional impacts of direct tax-transfer scheme are not as efficient as expected and that increasing the demand for low-skilled workers and improving their job qualities is one way of improving income distribution. The text is valuable for economists and government policymakers in the finance and labor sectors, as well as for sociologists and political economists.

Download or read book Impact of the 1981 Personal Income Tax Reductions of Income Distribution written by Valerie Lowe Amerkhail and published by . This book was released on 1982 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Man Out written by Andrew L. Yarrow and published by Brookings Institution Press. This book was released on 2018-09-11 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: The story of men who are hurting—and hurting America by their absence Man Out describes the millions of men on the sidelines of life in the United States. Many of them have been pushed out of the mainstream because of an economy and society where the odds are stacked against them; others have chosen to be on the outskirts of twenty-first-century America. These men are disconnected from work, personal relationships, family and children, and civic and community life. They may be angry at government, employers, women, and "the system" in general—and millions of them have done time in prison and have cast aside many social norms. Sadly, too many of these men are unsure what it means to be a man in contemporary society. Wives or partners reject them; children are estranged from them; and family, friends, and neighbors are embarrassed by them. Many have disappeared into a netherworld of drugs, alcohol, poor health, loneliness, misogyny, economic insecurity, online gaming, pornography, other off-the-grid corners of the internet, and a fantasy world of starting their own business or even writing the Great American novel. Most of the men described in this book are poorly educated, with low incomes and often with very few prospects for rewarding employment. They are also disproportionately found among millennials, those over 50, and African American men. Increasingly, however, these lost men are discovered even in tony suburbs and throughout the nation. It is a myth that men on the outer corners of society are only lower-middle-class white men dislocated by technology and globalization. Unlike those who primarily blame an unjust economy, government policies, or a culture sanctioning "laziness," Man Out explores the complex interplay between economics and culture. It rejects the politically charged dichotomy of seeing such men as either victims or culprits. These men are hurting, and in turn they are hurting families and hurting America. It is essential to address their problems. Man Out draws on a wide range of data and existing research as well as interviews with several hundred men, women, and a wide variety of economists and other social scientists, social service providers and physicians, and with employers, through a national online survey and in-depth fieldwork in several communities.

Download or read book Tax Cuts for Whom Heterogeneous Effects of Income Tax Changes on Growth and Employment written by Owen M. Zidar and published by . This book was released on 2017 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates how tax changes for different income groups affect aggregate economic activity. I construct a measure of who received (or paid for) tax changes in the postwar period using tax return data from NBER's TAXSIM. I aggregate each tax change by income group and state. Variation in the income distribution across U.S. states and federal tax changes generate variation in regional tax shocks that I exploit to test for heterogeneous effects. I find that the positive relationship between tax cuts and employment growth is largely driven by tax cuts for lower-income groups, and that the effect of tax cuts for the top 10% on employment growth is small.

Download or read book Causes and Consequences of Income Inequality written by Ms.Era Dabla-Norris and published by International Monetary Fund. This book was released on 2015-06-15 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the extent of income inequality from a global perspective, its drivers, and what to do about it. The drivers of inequality vary widely amongst countries, with some common drivers being the skill premium associated with technical change and globalization, weakening protection for labor, and lack of financial inclusion in developing countries. We find that increasing the income share of the poor and the middle class actually increases growth while a rising income share of the top 20 percent results in lower growth—that is, when the rich get richer, benefits do not trickle down. This suggests that policies need to be country specific but should focus on raising the income share of the poor, and ensuring there is no hollowing out of the middle class. To tackle inequality, financial inclusion is imperative in emerging and developing countries while in advanced economies, policies should focus on raising human capital and skills and making tax systems more progressive.

Download or read book The Economics of Tax Policy written by Alan J. Auerbach and published by Oxford University Press. This book was released on 2017-02-15 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: The debates about the what, who, and how of tax policy are at the core of politics, policy, and economics. The Economics of Tax Policy provides a straightforward overview of recent research in the economics of taxation. Tax policies generate considerable debate among the public, policymakers, and scholars. These disputes have grown more heated in the United States as the incomes of the wealthiest 1 percent and the rest of the population continue to diverge. This important volume enhances understanding of the implications of taxation on behavior and social outcomes by having leading scholars evaluate key topics in tax policy. These include how changes to the individual income tax affect long-term economic growth; the challenges of tax administration, compliance, and enforcement; and environmental taxation and its effects on tax revenue, pollution emissions, economic efficiency, and income distribution. Also explored are tax expenditures, which are subsidy programs in the form of tax deductions, exclusions, credits, or favorable rates; how college attendance is influenced by tax credits and deductions for tuition and fees, tax-advantaged college savings plans, and student loan interest deductions; and how tax policy toward low-income families takes a number of forms with different distributional effects. Among the most contentious issues explored are influences of capital gains and estate taxation on the long term concentration of wealth; the interaction of tax policy and retirement savings and how policy can "nudge" improved planning for retirement; and how the reform of corporate and business taxation is central to current tax policy debates in the United States. By providing overviews of recent advances in thinking about how taxes relate to behavior and social goals, The Economics of Tax Policy helps inform the debate.

Download or read book Does Atlas Shrug written by Joel Slemrod and published by Harvard University Press. This book was released on 2000 with total page 540 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the introduction of the income tax in 1913, controversy has raged about how heavily to tax the rich. Opponents of high tax rates claim that heavy assessments have negative incentives on the productivity of some of our most talented citizens; supporters stress the importance of the rich shouldering their "fair share," and decry the loopholes that permit many to escape their obligations. Notably absent from this debate is hard evidence about the actual impact of taxes on the behavior of the affluent. This book presents evidence by leading economists of the effects of taxes on the formation of businesses, the supply of labor, the form of executive compensation, the accumulation of wealth, the allocation of portfolios, and the realization of capital gains. Among its findings are that the labor supply of the rich remained unchanged in the face of large tax cuts in 1986, and that in late 1992 executives exercised billions of dollars' worth of stock options in order to beat the tax increases expected in 1993. The book also presents a history of efforts to tax the rich, a demographic snapshot of the financially affluent, and a road map to widely used tax-avoidance strategies. Does Atlas Shrug? will be of great interest to policymakers and interested citizens who want to know how much tax revenue could really be gained by increasing tax rates on the rich, or whether low capital gains tax rates really spur economic growth.

Download or read book Tax Withholding and Estimated Tax written by and published by . This book was released on 1993 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Top Incomes written by A. B. Atkinson and published by OUP Oxford. This book was released on 2010-04-01 with total page 984 pages. Available in PDF, EPUB and Kindle. Book excerpt: A rapidly growing area of economic research investigates the top of the income distribution using data from income tax records. This volume brings together studies of top incomes for twelve countries from around the world, including China, India, Japan, Argentina and Indonesia. Together with the first volume, published in 2007, the studies cover twenty two countries. They have a long time span, the earliest data relating to 1875 (for Norway), allowing recent developments to be placed in historical perspective. The volume describes in detail the source data and the methods employed. It will be an invaluable reference source for researchers in the field. Individual country chapters deal with the specific nature of the data for each of the countries, and describe the long-term evolution of top income shares. In the countries as a whole, dramatic changes have taken place at the top of the income distribution. Over the first part of the century, top income shares fell markedly. This largely took the form of a reduction in capital incomes. The different authors examine the impact of the First and Second World Wars, contrasting countries that were and were not engaged. They consider the impact of depressions and banking crises, and pay particular attention to the impact of progressive taxation. In the last 30 years, the shares of top incomes have increased markedly in the US and other Anglo-Saxon countries, reflecting the increased dispersion of earnings. The volume includes statistics on the much-discussed top pay and bonuses, providing a global perspective that discusses important differences between countries such as the lesser increase in Continental Europe. This book, together with volume 1, documents this interesting development and explores the underlying causes. The findings are brought together in a final summary chapter by Atkinson, Piketty and Saez.

Download or read book Public Policy and the Income Distribution written by Alan J. Auerbach and published by Russell Sage Foundation. This book was released on 2006-01-23 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the last forty years, rising national income has helped reduce poverty rates, but this has been accompanied by an increase in economic inequality. While these trends are largely attributed to technological change and demographic shifts, such as changing birth rates, labor force patterns, and immigration, public policies have also exerted a profound affect on the welfare of Americans. In Public Policy and the Income Distribution, editors Alan Auerbach, David Card, and John Quigley assemble a distinguished roster of policy analysts to confront the key questions about the role of government policy in altering the level and distribution of economic well being. Public Policy and the Income Distribution tackles many of the most difficult and intriguing questions about how government intervention—or lack thereof—has affected the incomes of everyday Americans. Rebecca Blank analyzes welfare reform, and presents systematic research on income, poverty rates, and welfare and labor force participation of single mothers. She finds that single mothers worked more and were less dependent on public assistance following welfare reform, and that low-skilled single mothers had no greater difficulty finding work than others. Timothy Smeeding compares poverty reduction programs in the United States with policies in other developed countries. Poverty and inequality are higher in the United States than in other advanced economies, but Smeeding argues that this is largely a result of policy choices. Poverty rates based on market incomes alone are actually lower in the United States than elsewhere, but government interventions in the United States were less than half as effective at reducing poverty as were programs in the other countries. The most dramatic poverty reduction story of twentieth century America was seen among the elderly, who went from being the age group most likely to live in poverty in the 1960s to the group least likely to be poor at the end of the century. Gary Englehardt and Jonathan Gruber examine the role of policy in alleviating old-age poverty by estimating the impact of Social Security benefits on the income of the elderly poor. They find that the growth in Social Security almost completely explains the large decline in elderly poverty in the United States The twentieth century was remarkable in the extent to which advances in public policy helped improve the economic well being of Americans. Synthesizing existing knowledge on the effectiveness of public policy and contributing valuable new research, Public Policy and the Income Distribution examines public policy's successes, and points out the areas in which progress remains to be made.

Download or read book The Impact of Taxes on the American Economy written by Lester C. Thurow and published by New York : Praeger. This book was released on 1971 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Effect of Anticipated Tax Changes on Intertemporal Labor Supply and the Realization of Taxable Income written by Adam Looney and published by . This book was released on 2005 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: "We use anticipated changes in tax rates associated with changes in family composition to estimate intertemporal labor supply elasticities and elasticities of taxable income with respect to the net-of-tax wage rate. A number of provisions of the tax code are tied explicitly to child age and dependent status. Changes in the ages of children can thus affect marginal tax rates through phase-in or phase-out provisions of tax credits or by shifting individuals across tax brackets. We identify the response of labor and income to these tax changes by comparing families who experienced a tax rate change to families who had a similar change in dependents but no resulting tax rate change. A primary advantage of our approach is that the changes are anticipated and therefore should not cause re-evaluations of lifetime income. The estimates of substitution effects should consequently not be confounded by life-cycle income effects. The empirical design also allows us to compare similar families and can be used to estimate elasticities across the income distribution. In particular, we provide estimates for low and middle income families. Using data from the Survey of Income and Program Participation (SIPP), we estimate an intertemporal elasticity of family labor earnings close to one for families earning between $30,000 and $75,000. Our estimates for families in the EITC phase-out range are lower but still substantial. Estimates from the IRS-NBER individual tax panel are consistent with the SIPP estimates. Tests using alternate control groups and simulated "placebo" tax schedules support our identifying assumptions. The high-end estimates suggest substantial efficiency costs of taxation."

Download or read book Abrupt Changes in Social Policy written by Sheldon Danziger and published by . This book was released on 1983 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: