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标题：Moving to a Consumption-Based Tax System: A Quantitative Assessment for Brazil
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作者：Marcelo Rodrigues dos Santos ; Thiago Neves Pereira
期刊名称：Revista Brasileira de Economia
印刷版ISSN：0034-7140
出版年度：2010
卷号：64
期号：2
页码：209-228
语种：English
出版社：Escola de Pós-Graduação em Economia da FGV
摘要：Whether the tax system ought to be built around an income or a consumption tax has been a primary -- some would say the primary -- issue in tax policy for many years. Much of the interest in tax policy arises from the widespread belief that taxes on income and savings tend to lower long-run income by retarding the creation and expansion of firms and by discouraging workers and investment. Following this belief, Brazilian's government has proposed a tax reform which, basically, replaces tax on investment and labor with tax on consumption. In this paper, we develop a dynamic general equilibrium model to guide our quantitative assessment of the economic and distributional implications of such tax reform. The model is calibrated in such a way that it matches some selected features of the Brazilian economy. We also use the calibrated model to calculate the deadweight loss of each type of taxation and thus provide some rationality for that rearrangement in the tax system. The main result of the paper is that, even though the tax reform increases the asset accumulation, labor and output of economy, it also raises the welfare inequality as borrowing constrained individuals cannot take advantage of the drop in tax on savings.
其他摘要：Whether the tax system ought to be built around an income or a consumption tax has been a primary -- some would say the primary -- issue in tax policy for many years. Much of the interest in tax policy arises from the widespread belief that taxes on income and savings tend to lower long-run income by retarding the creation and expansion of firms and by discouraging workers and investment. Following this belief, Brazilian's government has proposed a tax reform which, basically, replaces tax on investment and labor with tax on consumption. In this paper, we develop a dynamic general equilibrium model to guide our quantitative assessment of the economic and distributional implications of such tax reform. The model is calibrated in such a way that it matches some selected features of the Brazilian economy. We also use the calibrated model to calculate the deadweight loss of each type of taxation and thus provide some rationality for that rearrangement in the tax system. The main result of the paper is that, even though the tax reform increases the asset accumulation, labor and output of economy, it also raises the welfare inequality as borrowing constrained individuals cannot take advantage of the drop in tax on savings.
关键词：Tax Reform; Welfare Distribution; Deadweight Loss; Brazil.;Tax Reform; Welfare Distribution; Deadweight Loss; Brazil.
其他关键词：Tax Reform, Welfare Distribution, Deadweight Loss, Brazil.