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The Top Shares of Older Earners in Canada

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  • Michael R. Veall

Abstract

Within the 65+ age group, the percentage of labour market income received by the top 1% of earners has increased from about 30% in 1982 to more than 60% in 2002. The trend is smooth, is roughly uniform across provinces and does not appear to have been accelerated by top marginal tax rate reductions in 1988. Hence there is little evidence from this time series that further marginal tax rate reductions would have an important permanent effect on aggregate labour supply for this age group. Moreover, it is unlikely that this period could provide evidence regarding aggregate labour supply effects for this group with respect to reductions in Old Age Security or Guaranteed Income Supplement clawbacks, because the top 1% of earners are above the income range served by these programs.

Suggested Citation

  • Michael R. Veall, 2006. "The Top Shares of Older Earners in Canada," Quantitative Studies in Economics and Population Research Reports 408, McMaster University.
  • Handle: RePEc:mcm:qseprr:408
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    File URL: http://socserv.mcmaster.ca/qsep/p/qsep408.pdf
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    References listed on IDEAS

    as
    1. Michael Baker, 2002. "The Retirement Behavior of Married Couples: Evidence from the Spouse's Allowance," Journal of Human Resources, University of Wisconsin Press, vol. 37(1), pages 1-34.
    2. Richard Blundell & Alan Duncan & Costas Meghir, 1998. "Estimating Labor Supply Responses Using Tax Reforms," Econometrica, Econometric Society, vol. 66(4), pages 827-862, July.
    3. Michael Baker & Jonathan Gruber & Kevin Milligan, 2003. "The retirement incentive effects of Canada's Income Security programs," Canadian Journal of Economics, Canadian Economics Association, vol. 36(2), pages 261-290, May.
    4. Michael R. Veall, 2001. "Did tax flattening affect RRSP contributions?," Canadian Journal of Economics, Canadian Economics Association, vol. 34(1), pages 120-131, February.
    5. Gruber, Jon & Saez, Emmanuel, 2002. "The elasticity of taxable income: evidence and implications," Journal of Public Economics, Elsevier, vol. 84(1), pages 1-32, April.
    6. Slemrod, Joel, 1998. "Methodological Issues in Measuring and Interpreting Taxable Income Elasticities," National Tax Journal, National Tax Association, vol. 51(n. 4), pages 773-88, December.
    7. Frank T. Denton & Byron G. Spencer, 2000. "Some Demographic Consequences of Revising the Definition of 'Old' to Reflect Future Changes in Life Table Probabilities," Quantitative Studies in Economics and Population Research Reports 352, McMaster University.
    8. Austan Goolsbee, 2000. "What Happens When You Tax the Rich? Evidence from Executive Compensation," Journal of Political Economy, University of Chicago Press, vol. 108(2), pages 352-378, April.
    9. Slemrod, Joel, 1998. "Methodological Issues in Measuring and Interpreting Taxable Income Elasticities," National Tax Journal, National Tax Association, vol. 51(4), pages 773-788, December.
    10. Gerald Auten & Robert Carroll, 1999. "The Effect Of Income Taxes On Household Income," The Review of Economics and Statistics, MIT Press, vol. 81(4), pages 681-693, November.
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    More about this item

    Keywords

    Income distribution of seniors; employment income of seniors;

    JEL classification:

    • H24 - Public Economics - - Taxation, Subsidies, and Revenue - - - Personal Income and Other Nonbusiness Taxes and Subsidies
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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