The Welfare Cost of Social Security due to Changes in Private Saving: The Case of Capital Income Taxation

Won Shik Kim
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Won Shik Kim: Kon-kuk University

Korean Economic Review, 1990, vol. 6, issue 1, 121-137

Abstract: It is shown that under the existence of capital income taxation, the welfare cost of social security would be occurred more than the case without capital income taxation if part of the change in tax revenue by social security has been used for investments instead of consumption expenditures. When we look at only the side of welfare cost, it is better to abandon to implement social security if the capital stock for the public is not formulated so that the rate of return on government investment is high.

Date: 1990
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