This testimony makes three main points. First, income volatility, especially when it involves income declines, imposes … hardships are most pronounced for middle-and low-income families, whose incomes tend to be more volatile, and who tend to have … less access to low-cost borrowing. Second, currently the income tax system simultaneously helps and hurts families trying …

strong income gradient in tax response within the top, underlining the importance to study even small top groups separately …. Several mechanisms are investigated. Tax-driven income shifting between wage and capital income is important in the very top …

strong income gradient in tax response within the top, underlining the importance to study even small top groups separately …. Several mechanisms are investigated. Tax-driven income shifting between wage and capital income is important in the very top …

with ten to forty years of observations from the Panel Survey of Income Dynamics. We find that neither is strongly …

We study the link between tax progressivity and top income shares. Using variation from large-scale Western tax reforms … in the 1980s and 1990s and the novel synthetic control method, we find large and lasting boosting impacts on top income … reduced overall progressivity contributed less. Searching for mechanisms, real income responses as measured by growth in …

convergence to a balanced primary budget in the long run. This is the case when interest rates are sufficiently responsive to …

This paper precisely estimates the elasticity of broad income (EBI) with respect to the marginal net-of-tax rate for … high-income taxpayers. We study the introduction of a new top income tax bracket in 2013 using a large panel of high-income … the tremendous income volatility experienced by high-income taxpayers. We obtain an intent-to-treat (ITT) EBI of 0 …

with ten to forty years of observations from the Panel Survey of Income Dynamics. We find that neither is strongly …