Human capital and optimal positive taxation of capital income
نویسندگان
چکیده
منابع مشابه
Optimal Capital Income Taxation∗
In an economy with identical infinitely-lived households that obtain utility from leisure as well as consumption, Chamley (1986) and Judd (1985) have shown that the optimal tax system to pay for an exogenous stream of government purchases involves a zero tax rate on capital in the long run, with tax revenue collected by a distortionary tax on labor income. Extending the results of Hall and Jorg...
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We analytically and quantitatively examine a prominent justi cation for capital income taxation: goods preferred by those with high ability ought to be taxed. We study an environment where commodity taxes are allowed to be nonlinear functions of income and consumption and nd that, when ability is positively related to a preference for a good, optimal marginal commodity taxes on this good may b...
متن کاملOn the Optimal Taxation of Capital Income
We show that in models in which labor services are supplied jointly with human capital, the Chamley and Judd result on zero capital income taxation in the limit extends to labor taxes as long as accumulation technologies are constant returns to scale. Moreover, for a class of widely used preferences, consumption taxes are zero in the limit as well. However, we show by the construction of two ex...
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ژورنال
عنوان ژورنال: International Tax and Public Finance
سال: 2009
ISSN: 0927-5940,1573-6970
DOI: 10.1007/s10797-009-9120-5