By Doina Maria Radulescu
From the reviews:
“The publication proposes an method for the dimension of the consequences of tax reforms regularly within the box of capital source of revenue taxation. … The booklet is established in 6 chapters. … meant to an viewers interested by monetary and taxation matters that's even as rather popular to the options of equilibrium models.” (Vangelis Grigoroudis, Zentralblatt MATH, Vol. 1170, 2009)
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Additional resources for CGE Models and Capital Income Tax Reforms: The Case of a Dual Income Tax for Germany
2 of the impatient consumer. The DIT helps to alleviate this distortion. By taxing capital income and accordingly interest income at a ﬂat rate of 20 per cent, the present value of taxes would be almost the same for both individuals, namely € 969 for the early consumer and € 972 for the late one. Therefore, the DIT does not discriminate against returns on savings as is the case with the global income tax. 1. Treatment of Patient vs. 2 1000 Dual Income Tax Tax on Interest Income at 20%c 0 0 0 10 Consumption 500 500 0 1040 Present value of tax paymentsb 969 972 Notes: a The present value is calculated using the gross interest b rate of 10%.
Progressive capital taxes, which apply under the global income tax, subject diﬀerent taxpayers to diﬀerent tax rates thus leading to an ineﬃcient allocation of savings across time as well as between the corporate and the non-corporate sector. This neutrality consideration is violated by the present German tax system. Firstly, since the German tax system (as described in the previous Chapter) distinguishes between corporate ﬁrms subject to the corporate income tax and non-corporate ﬁrms subject to personal income taxation, no neutrality exists regarding the taxation of these two legal forms.
This methodical incompatibility in determining the respective tax base of labor and capital income leads to a preferential treatment of income received from labor. 2. 2. Investment in Human versus Physical Under the Dual Income Tax (in €) Human capital investor Physical capital investor Period 1 Period 2 Period 1 Period 2 Potential wage income 2000 4200a 2000 2000 Actual wage income 0 4200 2000 2000 Interest Income 0 0 0 100 Tax at 50% 2100 1000 1050 Physical investment 0 0 1000 -1000 Consumption 0 2100 0 2050 Note: For both human and physical capital the rate of return is assumed to be 10%.