Chap016.ppt

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1、CHAPTER16EfficientandEquitableTaxationCopyright©2010bytheMcGraw-HillCompanies,Inc.Allrightsreserved.McGraw-Hill/IrwinOptimalCommodityTaxationw(T–l)=PXX+PYYwT=PXX+PYY+wlwT=(1+t)PXX+(1+t)PYY+(1+t)wl1wT=PXX+PYY+wl1+tTheRamseyRuleXperyearPXDXP0X0cP0+uXbX1∆XaExcessBurdenP0+(uX+1)

2、fX2i∆xejhgMarginalExcessBurdenmarginalexcessburden=areafbae=1/2∆x[uX+(uX+1)]=∆XTheRamseyRuleContinuedchangeintaxrevenues=areagfih–areaibae=X2–(X1–X2)uXmarginaltaxrevenue=X1∆Xmarginaltaxrevenueperadditionaldollaroftaxrevenue=∆X/(X1-∆X)marginaltaxrevenueperadditionaldollaro

3、ftaxrevenueforgoodY=∆Y/(Y1-∆Y)Tominimizeoverallexcessburden=∆X/(X1-∆X)=∆Y/(Y1-∆Y)thereforeAReinterpretationoftheRamseyRuleinverseelasticityruleTheCorlett-HagueRuleInthecaseoftwocommodities,efficienttaxationrequirestaxingcommoditycomplementarytoleisureatarelativelyhighrateEqu

4、ityConsiderationsEquityimplicationsofinverseelasticityruleVerticalequityOptimaldeparturefromRamseyRuleApplication:TaxationoftheFamilyUnderfederalincometaxlaw,fundamentalunitofincometaxationisfamilyIsexcessburdenminimizedbytaxingeachspouse’sincomeatsamerate?Shouldhusbandsfacehi

5、ghermarginaltaxratesthanwives?OptimalUserFeesZperyear$ANaturalMonopolyDZMRZACZMCZZMPMACMZ*P*ZAMarginalCostPricingwithLumpSumTaxesBenefitsreceivedprincipleAverageCostPricingARamseySolutionOptimalIncomeTaxation-Edgeworth’sModelW=U1+U2+…+UnIndividualshaveidenticalutilityfunctions

6、thatdependonlyontheirincomesTotalamountofincomefixedImplicationsofmodelforincometaxOptimalIncomeTaxation-ModernStudiesSupply-sideresponsestotaxationLinearincometaxmodel(flatincometax)Revenues=-α+t*IncomeStern[1987]GruberandSaez[2002]IncomeTaxRevenueα=lumpsumgrantt=marginal

7、taxratePoliticsandtheTimeInconsistencyProblemPublicchoiceanalysisoftaxpolicyTimeinconsistencyofoptimalpolicyOtherCriteriaforTaxDesignHorizontalequityUtilitydefinitionofhorizontalequityTransitionalequityRuledefinitionofhorizontalequityCostsofRunningtheTaxSystemCostsofadministe

8、ringtheincometaxintheU.S.TypesofcostsComplianceAdministration