Taxes
C h a p t e r 1 3
Macroeconomics Chapter 13
Taxes in the United States
Macroeconomics Chapter 13
Taxes in China
Macroeconomics Chapter 13
Types of Taxes
Macroeconomics Chapter 13
Types of Taxes
Macroeconomics Chapter 13
Types of Taxes
#证券交易印花税
印花税
房产税
城市维护建设税
资源税
个人所得税
企业所得税
营业税
出口货物退增值税、消费税
进口货物增值税、消费税
国内消费税
国内增值税
税收收入
总计
地方
中央
2007
国家财政收入
项 目
其他收入
罚没收入
行政事业性收费
专项收入
非税收入
其他税收收入
烟叶税
契税
耕地占用税
关税
车辆购置税
船舶吨税
车船税
土地增值税
城镇土地使用税
地方
中央
2007
国家财政收入
项 目
Macroeconomics Chapter 13
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
Macroeconomics Chapter 13
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 . federal individual income tax is that the marginal tax rate rises with income.
Macroeconomics Chapter 13
Types of Taxes
Macroeconomics Chapter 13
Types of Taxes
45
超过100000元的部分
9
40
超过80000元至100000元的部分
8
35
超过60000元至80000元的部分
7
30
超过40000元至60000元的部分
6
25
超过20000元至40000元的部分
5
20
超过5000元至20000元的部分
4
15
超过2000元至5000元的部分
3
10
超过500元至2000元的部分
2
5
不超过500元的
1
税率（％）
全月应纳税所得额
级数
个人所得税税率表一
（工资、薪金所得适用）
Macroeconomics Chapter 13
Types of Taxes
Macroeconomics Chapter 13
Types of Taxes
Macroeconomics Chapter 13
Taxes in the Model
Household Budget Constraint
C + (1/P)·B+ K
= (w/P)·Ls+ r·(B/P+K) + V − T
Macroeconomics Chapter 13
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.
Macroeconomics Chapter 13
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.
Macroeconomics Chapter 13
Taxes in the Model
after-tax real wage rate = (1−τw)·(w/P)
If the marginal tax rate, τw, rises, for a given w/P, (1−τw)·(w/P) falls.
We predict that the household would reduce the quantity of labor supplied, take more leisure time, and consume less.
--- intratemporal substitution
Macroeconomics Chapter 13
Taxes in the Model
Macroeconomics Chapter 13
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
Macroeconomics Chapter 13
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.
This effect will spill over to the market for capital services because the reduction in L tends to reduce the marginal product of capital services, MPK.
Macroeconomics Chapter 13
Taxes in the Model
Macroeconomics Chapter 13
Taxes in the Model
Y= A· F(κ K, L)
we found that a rise in the labor-income tax rate, τw, reduced the quantities of labor, L, and capital services, κK.
A higher marginal tax rate on labor income, τw, leads to a reduction in overall market activity, as gauged by real GDP, Y.
Macroeconomics Chapter 13
Taxes in the Model
A Tax on Asset Income
C+ (1/P)·B+ K
= ( w/P) ·Ls+ r · ( B/P +K) + V − T
r = ( R/ P) · κ − δ(κ)
Let τr be the marginal tax rate on asset income.
Macroeconomics Chapter 13
Taxes in the Model
A Tax on Asset Income
(1−τr) · r = (1−τr)·[(R/P)·κ−δ(κ) ]
Macroeconomics Chapter 13
Taxes in the Model
For the choice between C1 and C2 is the after-tax real interest rate, (1−τr)·r . If τr rises, for given r, (1−τr)·r declines.
Households have less incentive to defer consumption, and it reacts by increasing C1 compared to C2. For given real income in year 1, an increase in τr motivates the household to consume more and save less in year 1.
Macroeconomics Chapter 13
Taxes in the Model
(κK )d : does not change.
(κK )s : choose κ to maximize (1−τr)·r.
Hence, no change in the rental market.
No change in labor and GDP.
In the long run, the decrease in I leads to a lower GDP.
Macroeconomics Chapter 13
Taxes in the Model
A Tax on consumption
C+ ( 1/P)·B+ K
= ( w/P) ·Ls+ r · ( B/P +K) + V − T
Suppose now that real taxes, T, depend on a household’s consumption
Let τc be the marginal tax rate on asset income.
Macroeconomics Chapter 13
Taxes in the Model
A Tax on consumption
T = τc C
C+ ( 1/P)·B+ K
= (w/P) ·Ls+ r · (B/P+K) + V −τc C
The net real wage: (w/P) / (1+τc)
The net real interest rate: r / (1+τc)
Macroeconomics Chapter 13
An Increase in Government Purchases Financed by a Labor Income Tax
Effects from a permanent increase in government purchases, G. assumed, that the increase in G was financed by lump-sum taxes.
Our finding was that an increase in G by one unit left real GDP, Y, unchanged and reduced consumption, C, by about one unit.
Gross investment, I, was unchanged.
Also unchanged were the real wage rate, w/P, the real rental price, R/P, and the real interest rate, r.
Macroeconomics Chapter 13
An Increase in Government Purchases Financed by a Labor Income Tax
Now combine
the permanent increase in G
and the higher marginal income tax rateτw
The income effect increases the supply of labor.
Macroeconomics Chapter 13
An Increase in Government Purchases Financed by a Labor Income Tax
We found in this chapter that the substitution effect from a higher marginal tax rate, τw, on labor income reduces the quantity of labor supplied.
The net effect on the supply of labor is not so large.
Macroeconomics Chapter 13
An Increase in Government Purchases Financed by a Labor Income Tax
Empirically, the overall effect from permanently increased government purchases, G, on the quantity of labor supplied, Ls , seems to be small.
Macroeconomics Chapter 13
An Increase in Government Purchases Financed by a Labor Income Tax
Macroeconomics Chapter 13
Transfer Payments
Suppose that the government increases real transfers, V, and finances these expenditures with increased real taxes, T, collected by a tax on labor income.
In this case, marginal income tax rates, τw, rise for two reasons.
First, the rise in T goes along with a higher τw for households that pay individual income taxes.
Second, for households that are receiving transfers—such as poor welfare recipients—the expansion of the transfer program raises the implicit marginal income tax rate, τw, because of the income testing for benefits.
We therefore predict even stronger effects In particular, labor input, L, capital services, κK, and real GDP, Y, tend to decline.
Macroeconomics Chapter 13
