Simulating U.S. Tax Reform: Technical Paper 1997-6

David Altig, Alan Auerbach, Laurence Kotlikoff and Kent A. Smetters
Authors registered in the RePEc Author Service: Jan Walliser

No 13351, Working Papers from Congressional Budget Office

Abstract: This paper uses a new large-scale dynamic simulation model to compare the equity, efficiency, and macroeconomic effects of five alternatives to the current U.S. federal income tax. These reforms are a proportional income tax, a proportional consumption tax, a flat tax, a flat tax with transition relief, and a progressive variant of the flat tax called the "X tax." The model incorporates intragenerational heterogeneity and kinked budget constraints. It predicts major macroeconomic gains (including an 11 percent increase in long-run output)

Date: 1997-09-01
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Persistent link: https://EconPapers.repec.org/RePEc:cbo:wpaper:13351

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