G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w16280
来源IDWorking Paper 16280
The Insurance Value of State Tax-and-Transfer Programs
Hilary W. Hoynes; Erzo F.P. Luttmer
发表日期2010-08-19
出版年2010
语种英语
摘要This paper estimates the total value that individuals derive from their state's tax-and-transfer program, and shows how this value varies by income. The paper decomposes this total value into two components: redistributive value, which is due to predictable changes in income (and family circumstances), and insurance value, which occurs when taxes and transfers compensate for unexpected income shocks. Our approach is a forward-looking one, where we examine income and transfers net of taxes over a 10-year period. We model state taxes (personal income taxes, the EITC, and sales taxes) and state means-tested transfers (AFDC/TANF and Medicaid/SCHIP). The calculations are made using the Panel Study of Income Dynamics and allow for analysis of the determinants of changes in the value of state net benefits over a more than 30-year period. We find that the redistributive value of state tax-and-transfer programs sharply declines with income, but that the insurance value of transfers is increasing in income. The resulting total value still declines with income, but not nearly as sharply as the redistributive value. Hence, the insurance value mitigates the incentives for mobility that would "undo" state redistributive spending.
主题Public Economics ; Taxation ; Subnational Fiscal Issues
URLhttps://www.nber.org/papers/w16280
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/573953
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GB/T 7714
Hilary W. Hoynes,Erzo F.P. Luttmer. The Insurance Value of State Tax-and-Transfer Programs. 2010.
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