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Working Paper
Earnings and wealth inequality and income taxation: quantifying the tradeoffs of switching to a proportional income tax in the U.S.
Castaneda, Ana; Azariadis, Costas; Ambrose, Brent W. (1998)
This paper quantifies the steady-state aggregate, distributional, and mobility effects of switching the U.S. to a proportional income tax system.
Working Papers (Old Series) , Paper 9814

Working Paper
Is Our Fiscal System Discouraging Marriage? A New Look at the Marriage Tax
Ilin, Elias; Kotlikoff, Laurence J.; Pitts, M. Melinda (2022-06-29)
We develop, apply, and test a new measure of the marriage tax: the reduction in future spending from getting married. Our measure is a comprehensive, actuarial (expected) present value. It incorporates all major and most minor US tax and benefit programs, weighing the present value of additional net taxes from marrying along each marital survivor path by the path’s probability. And it assumes clone marriage—marrying oneself—to ensure the living-standard loss from marrying is unaffected by spousal choice. We calculate our marriage tax for young respondents using the Survey of Consumer ...
FRB Atlanta Working Paper , Paper 2022-6

Journal Article
Income taxes as reciprocal tariffs
Ruffin, Roy J.; Gould, David M.; Cox, W. Michael (1998-07)
This article shows the equivalence between tariffs on international trade and income taxation. Traditionally, income taxes have been seen as lowering society's output through the household's labor-leisure trade-off. Income taxes also reduce the degree to which individuals specialize in market activity, which is similar to the way countries respond to tariffs in international trade. Income taxes discourage individuals from specializing in activities that reflect their comparative advantage. In so doing, income taxes may have their most distorting effects, not by encouraging individuals to ...
Economic and Financial Policy Review , Issue Q III , Pages 2-9

Working Paper
Income tax refunds and the timing of consumption expenditure
Wilcox, David W. (1990)
Working Paper Series / Economic Activity Section , Paper 106

Working Paper
Inflation, personal taxes, and real output: a dynamic analysis
Carlstrom, Charles T.; Altig, David E. (1991)
An examination, using the overlapping-generations approach, of how the interactions between inflation and the nominal taxation of capital income affect the cyclical behavior of the U.S. economy.
Working Papers (Old Series) , Paper 9102

Journal Article
The shifty Laffer curve
Becsi, Zsolt (2000-07)
Any number of U.S. politicians owe their success to emphasizing tax cutting. According to logic, voters are opting for fewer government services or for changes in the mix of services rendered. It is at this point that things become complicated, however, because what happens to expenditures influences how much revenue a government needs to collect. The author of this article observes that a good place to start in understanding the impacts of tax policy is with what is popularly known as the Laffer curve. This curve became famous early in the 1980s when tax rates fell but tax revenues did not ...
Economic Review , Volume 85 , Issue Q3 , Pages 53-64

Report
The jointly optimal inflation tax, income tax structure, and transfers
Miller, Preston J. (1995)
The welfare-maximizing income tax structure, rate of money creation, and amounts of intergenerational transfers are jointly determined for given rates of government consumption. When government consumption is zero, it is found for the parameter values examined that the income tax structure is progressive, the rate of money change is negative, and positive transfers are made to the old. As government consumption increases, the tax structure's progressivity declines and turns increasingly regressive, the rate of money change rises, and transfers decrease. It is found that the bulk of the ...
Staff Report , Paper 193

Working Paper
Does participating in a 401(k) raise your lifetime taxes?
Kotlikoff, Laurence J.; Neumann, Todd; Gokhale, Jagadeesh (2001)
Contributing to 401(k)-type plans lowers current taxes, but does it lower lifetime taxes? If tax rates were independent of income and remained constant through time, the answer would be an unambiguous ?yes.? But tax rates may be higher when retirement account withdrawals occur, either because one moves into higher marginal tax brackets or because the government raises tax rates. Moreover, reducing tax brackets when young in exchange for higher tax brackets when old renders mortgage deductions less valuable. Most importantly, shifting taxable income from youth to old age can substantially ...
Working Papers (Old Series) , Paper 0108

Briefing
How Can We Make a Progressive Tax System More Efficient?
Karabarbounis, Marios (2024-08)
In the U.S., income tax rates rise as households earn more. However, such a system means workers have a reduced incentive to increase their earnings. In this article, I discuss a finding from one of my papers that explores the possible effects of targeting tax rates on additional characteristics besides income.
Richmond Fed Economic Brief , Volume 24 , Issue 26

Journal Article
State response in New England to federal tax reform
Tannenwald, Robert (1987-09)
New England Economic Review , Issue Sep , Pages 25-44

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