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Réductions d'impôts et dette publique : un lien à ne pas occulter

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Abstract

Tax cuts create simultaneously a lack of tax receipts and more savings ready to be changed into public bonds and compensate this shortage of tax revenue. A part of tax resources is replaced by borrowing and those who are enjoying tax cuts are also receiving interest from government. The consumption gain that can be obtained is small compared with the loss of tax receipts. Tax cuts have played an important role in the rise in public debt for twenty years. The first section analyses the link between tax cuts and public debt in France through national accounts and the second section presents a stock-flow consistent (SFC) model to examine this relation

Suggested Citation

  • Muriel Pucci & Bruno Tinel, 2010. "Réductions d'impôts et dette publique : un lien à ne pas occulter," Documents de travail du Centre d'Economie de la Sorbonne 10085, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
  • Handle: RePEc:mse:cesdoc:10085
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    File URL: ftp://mse.univ-paris1.fr/pub/mse/CES2010/10085.pdf
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    as
    1. Yang, Shu–Chun Susan, 2007. "Do Capital Income Tax Cuts Trickle Down?," National Tax Journal, National Tax Association, vol. 60(3), pages 551-567, September.
    2. Ekkehart Schlicht, 2006. "Public Debt As Private Wealth: Some Equilibrium Considerations," Metroeconomica, Wiley Blackwell, vol. 57(4), pages 494-520, November.
    3. Philip Arestis & Malcolm Sawyer, 2010. "The return of fiscal policy," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 32(3), pages 327-346, April.
    4. Schlicht, Ekkehart, 2004. "Public Debt as Private Wealth," Discussion Papers in Economics 371, University of Munich, Department of Economics.
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    More about this item

    Keywords

    Public debt; tax cuts; stock-flow model; public finance;

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

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