巴罗宏观经济学现代观点1.pptVIP

Macroeconomics Chapter 13 Taxes in the United States Taxes in China Types of Taxes Types of Taxes Types of Taxes Types of Taxes taxes fall on forms of income: individual income taxes, corporate profits taxes, and contributions for Social Security and Medicare. taxes are based on expenditures: sales taxes, excise taxes, and customs duties. Property taxes Types of Taxes The marginal tax rate is the additional tax paid on an additional dollar of income. The average tax rate is the ratio of total taxes paid to total income. An important property of the U.S. federal individual income tax is that the marginal tax rate rises with income. Types of Taxes Types of Taxes Types of Taxes Types of Taxes Taxes in the Model Household Budget Constraint Taxes in the Model Let τw be the marginal tax rate on labor income. a higher τw will generate more tax revenue for the government unless the amount of labor income falls sharply. Let τw be same for all levels of income same for all time --- no intertemporal substitution. Taxes in the Model Income effects from a change inτw V ? T = ?G Therefore, if government purchases, G, are unchanged， real transfers net of real taxes, V ? T, must also be unchanged. For given G, we do not get any changes in household real income through the term V ? T. In other words, if G is fixed, there are no income effects from a change inτw. Taxes in the Model after-tax real wage rate = (1?τw)·(w/P) Taxes in the Model Taxes in the Model For a given pretax real wage rate, w/P, a higher τw implies a lower after-tax real wage rate, (1 ? τw) · (w/P) . A rise in τw shifts the labor supply curve leftward from the blue one labeled Ls to the green one labeled (Ls ) . This decrease in labor supply reflects the substitution effect from the higher labor-income tax rate, τw Taxes in the Model a higher marginal tax rate on labor income, τw, lowers the quantity of labor input, L. (1 ? τw) · (w/P) also decreases. Taxes i