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1 Patrick Fleenor, Primer on the Economic Implications of Marginal Tax Rates [i] (1999)

handle is hein.taxfoundation/bpdcxz0001 and id is 1 raw text is: Table of Contents Introduction ............................................................................................... I Effect of Marginal Tax Rates on Savings and Investment ...................... 3 The Life Cycle Model ................................................................................................ 3 Optim izing Consum ptiol ........................................................................................ 6 Introduction of a Proportional Incomc Tax .......................................................... 7 Taxing W ages ................................................................................................ 7 Taxin-g Interest ............................................................................................. 7 Modeling the W age and Interest Taxes ................................................................... 7 Introduction of a Progressive income Tlax ............................................................ 9 Responses to higher Effective Tax Rates ............................................................... 11 Real-W orld Com plications ....................................................................................... 11 Wealth and Age ............................................................................................ 12 The Com plexity of the Tax Code ............................................................................. 12 Em pirical investigation ............................................................................................ 13 Policy im plications ................................................................................................... 14 Effect of Marginal Tax Rates on Labor Supply ........................................ 15 Introduction .............................................................................................................. 15 Theoretical issues ..................................................................................................... 15 Changing W ork hours Following a Wage icrease ............................................... 15 The Labor Supply ...................................................................................................... 17 Effect of Marginal Tax Rates on Income and Labor Supply ................................. 19 Effect of a Progressive Rate Structure .................................................................... 19 Em pirical Evidence ................................................................................................... 22 The Response of High-income Households ........................................................... 22 The Response of Married Taxpayers ...................................................................... 22 Conclusion ................................................................................................................ 23 References .................................................................................................. 24

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