Kindermann, Fabian
High marginal tax rates on the top 1 percent? lessons from a life-cycle model with idiosyncratic income risk / by Fabian Kindermann and Dirk Krueger
Resumen.
Bibliografía.
This paper argues that high marginal labor income tax rates on top earners are an effective tool for social insurance even when households have high labor supply elasticity, households make dynamic savings decisions, and policies have general equilibrium effects. We construct a large-scale overlapping generations model with uninsurable labor productivity risk, show that it has a realistic wealth distribution, and numerically characterize the optimal top marginal rate. We find that marginal tax rates for top 1 percent earners of 79 percent are optimal as long as the model earnings and wealth distributions display a degree of concentration as observed in US data.
RENTAS ALTAS
IMPUESTOS
TIPOS DE GRAVAMEN
INCREMENTO
REDISTRIBUCION
ELASTICIDAD IMPOSITIVA
RIESGO FISCAL
MODELOS ECONOMETRICOS
Krueger, Dirk
American Economic Journal : Macroeconomics 1945-7707 v. 14, n. 2, April 2022, p. 319-366
High marginal tax rates on the top 1 percent? lessons from a life-cycle model with idiosyncratic income risk / by Fabian Kindermann and Dirk Krueger
Resumen.
Bibliografía.
This paper argues that high marginal labor income tax rates on top earners are an effective tool for social insurance even when households have high labor supply elasticity, households make dynamic savings decisions, and policies have general equilibrium effects. We construct a large-scale overlapping generations model with uninsurable labor productivity risk, show that it has a realistic wealth distribution, and numerically characterize the optimal top marginal rate. We find that marginal tax rates for top 1 percent earners of 79 percent are optimal as long as the model earnings and wealth distributions display a degree of concentration as observed in US data.
RENTAS ALTAS
IMPUESTOS
TIPOS DE GRAVAMEN
INCREMENTO
REDISTRIBUCION
ELASTICIDAD IMPOSITIVA
RIESGO FISCAL
MODELOS ECONOMETRICOS
Krueger, Dirk
American Economic Journal : Macroeconomics 1945-7707 v. 14, n. 2, April 2022, p. 319-366