Human Capital and the Income Tax /
Kaplow, Louis.
Human Capital and the Income Tax / Louis Kaplow. - Cambridge, Mass. National Bureau of Economic Research 1993. - 1 online resource: illustrations (black and white); - NBER working paper series no. w4299 . - Working Paper Series (National Bureau of Economic Research) no. w4299. .
March 1993.
This article examines how to treat human capital -- perhaps the vast majority of the capital stock -- under an ideal, Haig-Simons income tax. Innate ability, investments in human capital, and uncertainty in future earnings are considered. It is demonstrated that conventional income tax treatment and proposed modifications are closer to implementing a consumption tax than an income tax. Approximating ideal income tax treatment may be feasible, but assessing its desirability would require further inquiry.
System requirements: Adobe [Acrobat] Reader required for PDF files.
Mode of access: World Wide Web.
Human Capital and the Income Tax / Louis Kaplow. - Cambridge, Mass. National Bureau of Economic Research 1993. - 1 online resource: illustrations (black and white); - NBER working paper series no. w4299 . - Working Paper Series (National Bureau of Economic Research) no. w4299. .
March 1993.
This article examines how to treat human capital -- perhaps the vast majority of the capital stock -- under an ideal, Haig-Simons income tax. Innate ability, investments in human capital, and uncertainty in future earnings are considered. It is demonstrated that conventional income tax treatment and proposed modifications are closer to implementing a consumption tax than an income tax. Approximating ideal income tax treatment may be feasible, but assessing its desirability would require further inquiry.
System requirements: Adobe [Acrobat] Reader required for PDF files.
Mode of access: World Wide Web.