G2TT
来源类型Discussion paper
规范类型论文
来源IDDP10668
DP10668 Redistribution and Insurance with Simple Tax Instruments
Sebastian Findeisen; Dominik Sachs
发表日期2015-06-21
出版年2015
语种英语
摘要We analyze optimal taxation of labor and capital income in a life-cycle framework with idiosyncratic income risk. We provide a novel decomposition of labor income tax formulas into a redistribution and an insurance component. The latter is independent of the social welfare function and determined by the degree of income risk and risk aversion. The optimal linear capital tax is non-zero and trades off redistribution and insurance against savings distortions. Our quantitative results reveal that the insurance component contributes significantly to optimal labor tax rates and provides an informative lower bound on optimal taxes: even for welfare functions that do not value redistribution, marginal tax rates are positive for all income levels. Optimal capital taxes are significant and yield sizable welfare gains; in particular if labor income taxes are suboptimal.
主题Public Economics
关键词Capital taxation Insurance Optimal taxation Redistribution
URLhttps://cepr.org/publications/dp10668
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/539500
推荐引用方式
GB/T 7714
Sebastian Findeisen,Dominik Sachs. DP10668 Redistribution and Insurance with Simple Tax Instruments. 2015.
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