Tax Policy and National Savings in the United States: A Survey

International Monetary Fund

No 1988/110, IMF Working Papers from International Monetary Fund

Abstract: This paper explores how tax policy affects the level and allocation of national savings in the United States. It argues that the effect of taxes on the overall private saving level is relatively small and uncertain and that raising public saving is the most direct and efficient way to raise national saving. However, the tax system has a powerful impact on the composition of savings and investment. The paper suggests various specific tax measures that would not only raise government revenue but also enhance the efficiency of savings and investment.

Keywords: WP; income tax; saving; tax rate; tax burden; capital gain; tax treatment; tax deductibility; tax distortion; consumer durables; tax measure; tax reform; differential tax treatment in favor; income tax tax rate; tax exemption; income tax tax burden; inflation rate; deductibility of mortgage interest; Income tax systems; Income and capital gains taxes; Income; Consumption taxes; Private savings; Global (search for similar items in EconPapers)
Pages: 28
Date: 1988-01-01
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Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:1988/110

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