Arbeitspapier
Capital income taxation and the mirrlees review
The Mirrlees Review of the UK tax system, together with its companion volume of research papers, can be expected to influence future discussions of tax reform. Indeed, this can already be recognised in the Henry Review. As far as income taxation is concerned, the most substantive recommendation of the Mirrlees Review is a move toward a system of consumption or expenditure taxation, by exempting the normal return to saving and taxing only excess returns on the same tax schedule as labour earnings. This paper argues against this direction of reform on the grounds that it is based on a model of household behaviour over the life cycle that ignores important aspects of reality. We present an alternative model, together with supporting empirical evidence. We go on to argue that, against the background of rising inequality and an aging population, the appropriate direction for reform is towards more progressive taxation of both labour earnings and capital income, although not necessarily under the same rate scale.
- Sprache
-
Englisch
- Erschienen in
-
Series: IZA Discussion Papers ; No. 6615
- Klassifikation
-
Wirtschaft
Taxation and Subsidies: Efficiency; Optimal Taxation
Personal Income and Other Nonbusiness Taxes and Subsidies; includes inheritance and gift taxes
Fiscal Policies and Behavior of Economic Agents: Household
Household Production and Intrahousehold Allocation
Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡
Time Allocation and Labor Supply
- Thema
-
optimal taxation
labour supply
capital income taxation
family life cycle
time allocation
saving
inequality
Kapitalertragsteuer
Steuerreform
Optimale Besteuerung
Arbeitsangebot
Großbritannien
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Apps, Patricia
Rees, Ray
- Ereignis
-
Veröffentlichung
- (wer)
-
Institute for the Study of Labor (IZA)
- (wo)
-
Bonn
- (wann)
-
2012
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Apps, Patricia
- Rees, Ray
- Institute for the Study of Labor (IZA)
Entstanden
- 2012
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