Abstract

http://ssrn.com/abstract=1353322
 
 

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A Critical Look at the Economic Argument for Taxing Only Labor Income


Chris William Sanchirico


University of Pennsylvania Law School; University of Pennsylvania Wharton School - Business Economics and Public Policy Department

March 4, 2009

Tax Law Review, Vol. 63, p. 867, 2010
U of Penn, Inst for Law & Econ Research Paper No. 09-08

Abstract:     
According to accepted wisdom, "the tax substitution argument" fairly establishes that it is best to tax only labor income, and not also income from savings and investment. In this Article, I show that the tax substitution argument - which is actually a disjointed collection of arguments - is variously incomplete, incorrect, and conclusory.

See also, Sanchirico, Chris William, A Counter-Reply to Bankman and Weisbach (June 20, 2011). Tax Law Review, Vol. 64, No. 4, pp. 551-561, 2011; Available at SSRN: http://ssrn.com/abstract=1907330.

Number of Pages in PDF File: 91

Keywords: Tax policy, equity and efficiency, optimal taxation, tax substitution argument, consumption tax versus income tax, Atkinson and Stiglitz, taxes versus legal rules

JEL Classification: K34, D30, D31, D60, D61, D63, H00, H20, H21, J38, K00, K10

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Date posted: March 4, 2009 ; Last revised: February 12, 2012

Suggested Citation

Sanchirico, Chris William, A Critical Look at the Economic Argument for Taxing Only Labor Income (March 4, 2009). Tax Law Review, Vol. 63, p. 867, 2010; U of Penn, Inst for Law & Econ Research Paper No. 09-08. Available at SSRN: http://ssrn.com/abstract=1353322

Contact Information

Chris William Sanchirico (Contact Author)
University of Pennsylvania Law School ( email )
3501 Sansom Street
Philadelphia, PA 19104
United States
215-898-4220 (Phone)
HOME PAGE: http://www.law.upenn.edu/faculty/csanchir/
University of Pennsylvania Wharton School - Business Economics and Public Policy Department
3641 Locust Walk
Philadelphia, PA 19104-6372
United States
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