fiscal policies that achieve a desired degree of redistribution in society. We find that marginal tax rates on the top 1% of …In this paper we argue that very high marginal labor income tax rates are an effective tool for social insurance even …

and redistribution role of the income tax system. …In this paper we quantitatively characterize the optimal capital and labor income tax in an overlapping generations … of the policy maker for insurance against idiosyncratic shocks and redistribution among agents of different abilities …

changes in marginal income tax rates. Marginal rates changed frequently and drastically in the 1920s and 1930s, and the …. We find that the elasticity of taxable income to changes in the log after-tax share (one minus the marginal rate) is …

The precipitous decline in tax sheltered investments after the Tax Reform Act of 1986 (TRA) is widely attributed to the … the investment tax credit and the long-term capital gain exclusion. These other reforms not only lowered after-tax rates … of return on tax sheltered investments but also eliminated the positive correlation between the investor's marginal tax …

This paper computes the optimal progressivity of the income tax code in a dynamic general equilibrium model with …. A progressive tax system serves as a partial substitute for missing insurance markets and enhances an equal distribution … of economic welfare. These beneficial effects of a progressive tax system have to be traded off against the efficiency …

This paper estimates the dynamic effects of marginal tax rate changes on income reported on tax returns in the United … States over the 1950-2010 period. After isolating exogenous variation in average marginal tax rates in structural vector … contrast to earlier findings based on tax return data, I also find large effects in other income percentile brackets. A …

total spending response to about 50-90% of the payments. Relative to research on the 2001 tax rebates, these spending …

transfer taxes, finding the tax benefits from establishing perpetual trusts to be quite modest, in representative cases ranging … from 9-25 percent of just one component of the cost. Contrary to popular claims, tax benefits decline as investment returns … the rule against perpetuities, raising concerns that the combination of tax incentives and new legal rights encourages the …

Tax benefits to owner-occupied housing provide incentives for housing consumption, offsetting weaker disincentives of … the property tax. These benefits also help counter the penalty federal taxes impose on households who work in productive … parameterized model, and determine the consequences of various tax reforms. Reductions in housing tax benefits generally reduce …