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Wealth And The Distribution Of Income: Permanent And Transitory Effects

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Author Info
M. H. Tuttle
Jean Gauger

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Abstract

This paper examines the permanent and transitory effects of changes in wealth, the top federal marginal income tax rate, and capital gains tax rate on the distribution of Adjusted Gross Income (AGI). This paper establishes the importance of wealth in determining the distribution of AGI, and results here suggest that its effects can negate the permanent effect of a change in both tax rates. Of the two tax rates, the capital gains tax rate is the most important for AGI distribution. The marginal income tax rate is notably less important for long run behavior, but does have short run impacts. Copyright © 2006 The Authors; Journal compilation © International Association for Research in Income and Wealth 2006.

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File URL: http://www.blackwell-synergy.com/links/doi/10.1111/j.1475-4991.2006.00208.x/enhancedabs
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Publisher Info
Article provided by Blackwell Publishing in its journal Review of Income and Wealth.

Volume (Year): 52 (2006)
Issue (Month): 4 (December)
Pages: 493-508
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Handle: RePEc:bla:revinw:v:52:y:2006:i:4:p:493-508

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This page was last updated on 2008-8-11.

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