Taxing Risky Capital Income --- A Commodity Taxation Approach - 10.1628/001522108X374151 - Mohr Siebeck

Dirk Schindler

Taxing Risky Capital Income --- A Commodity Taxation Approach

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Jahrgang 64 () / Heft 3, S. 311-333 (23)

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In a two-period world with endogenous savings and two assets, the optimal tax structure and optimal diversification of aggregate (capital) risk between private and public consumption are analyzed. We show that there is no trade-off between efficiency in intertemporal consumption and allocation of risk; both goals are reached as long as labor supply is exogenous. This requires, however, taxing the excess return at a special tax rate. Optimally extending the dual income tax for risky capital income, accordingly, leads to a tax system with three tax bases: the triple income tax .

Dirk Schindler Geboren 1974; Studium der Volkswirtschaftslehre in Konstanz; Forschungsaufenthalt an der Norwegian School of Economics and Business Administration, Bergen; 2004 Promotion; wiss. Assistent im Fachbereich Wirtschaftswissenschaften der Universität Konstanz.