We study the tax systems that arise in a once-and-for-all majority voting equilibrium embedded within a macroeconomic model of inequality. We find that majority voting delivers (i) a small set of outcomes, (ii) zero labor income taxation, and (iii) nearly zero transfers. We find that majority...

An examination of the generational imbalance in current Italian fiscal policy, showing that unless dramatic steps are taken soon, future generations' net tax bill will be four or more times the amount that today's newborns are slated to pay.