Taxing top earners a human capital perspective Alejandro Badel, Mark Huggett, Wenlan Luo
By: Badel, Alejandro
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Contributor(s): Huggett, Mark | Luo, Wenlan.
Material type: 
ArticlePublisher: 2020Subject(s): RENTAS ALTAS | RENTA | ESTADOS UNIDOS
In:
The Economic Journal vol. 130, nº 629, july 2020, p. 1200-1225Summary: An established view is that the revenue maximising top tax rate for the US is approximately 73%. In contrast, the revenue maximising top tax rate is approximately 49% in our quantitative human capital model. The key reason for the lower top tax rate is the presence of two new forces not captured by the model underlying the established view. These new forces are strengthened by the endogenous response of top earners’ human capital to a change in the top tax rate.
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Bibliografía
An established view is that the revenue maximising top tax rate for the US is approximately 73%. In contrast, the revenue maximising top tax rate is approximately 49% in our quantitative human capital model. The key reason for the lower top tax rate is the presence of two new forces not captured by the model underlying the established view. These new forces are strengthened by the endogenous response of top earners’ human capital to a change in the top tax rate.
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