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the rising trends in wealth-to-income ratios, housing wealth, and wealth inequality, that have been documented in most …
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Should asset testing be used in means-tested programs? These programs target low-income people, but low income can result not only from low productivity but also from low labor supply. We aim to show that in the asymmetric information environment, there is a positive role for asset testing. We...
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The Ramsey optimal taxation theory implies that the tax rate on capital income should be zero in the long run. This … reform that is funded mostly by higher taxes on labor income while households with little wealth would prefer a reform that … is funded mostly by high taxes on initial wealth. Pareto improving reforms typically exist, but the welfare gains of such …
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Valuation of national wealth.--Public indebtedness.--Taxation and revenue systems.--Governmental expenditures and …
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