Tax Policy and Social Goals
The American Enterprise Institute held a conference on U.S. tax policy and included a panel on personal savings and tax policy. The panelist… read more
The American Enterprise Institute held a conference on U.S. tax policy and included a panel on personal savings and tax policy. The panelists discussed personal tax incentives and national savings. Mr. Eisner began by describing the marginal propensity to save and how recent government programs affected people’s savings. Mr. Niskanen explained why the savings rate is too low and how spending, the substitution effect, and personal consumption are all functions of both income and wealth. Mr. Reischauer discussed the slow expansion of the national economy and the effectiveness of the Earned Income Tax Credit. Mr. Schultze described several policies that affected the national savings rate, including the personal income tax. Professor Thaler concluded the forum by speaking about microeconomics theory and increases in pension benefits. close
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- Richard Thaler Professor Cornell University->Economics
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