; ; ; "ActiveFedora::Aggregation::ListSource" . ; . a , ; "Optimal Income Taxation: Mirrlees Meets Ramsey"; ; "batchuser@example.com"; "Tsujiyama, Hitoshi", "Heathcote, Jonathan"; "Federal Reserve Bank of Minneapolis"; "Flat tax", "Optimal income taxation", "Ramsey taxation", "Social welfare functions", "Private insurance", "Mirrlees taxation", "Tax progressivity"; "H23 - Taxation and Subsidies: Externalities; Redistributive Effects; Environmental Taxes and Subsidies", "H21 - Taxation and Subsidies: Efficiency; Optimal Taxation", "H31 - Fiscal Policies and Behavior of Economic Agents: Household", "E62 - Fiscal Policy"; "What structure of income taxation maximizes the social benefits of redistribution while minimizing the social harm associated with distorting the allocation of labor input? Many authors have advocated scrapping the current tax system, which redistributes primarily via marginal tax rates that rise with income, and replacing it with a flat tax system, in which marginal tax rates are constant and redistribution is achieved via non-means-tested transfers. In this paper we compare alternative tax systems in an environment with distinct roles for public and private insurance. We evaluate alternative policies using a social welfare function designed to capture the taste for redistribution reflected in the current tax system. In our preferred specification, moving to the optimal flat tax policy reduces welfare, whereas moving to the optimal fully nonlinear Mirrlees policy generates only tiny welfare gains. These findings suggest that proposals for dramatic tax reform should be viewed with caution."^^; "2019-09-10"; "2019-05-17T14:20:07.440628207+00:00"^^; "https://doi.org/10.21034/sr.507"; ; "https://creativecommons.org/licenses/by-nc/4.0/"; "2022-07-26T20:45:29.629171265+00:00"^^; "https://creativecommons.org/licenses/by-nc/4.0/"; "Research Paper"; "323", "797"; "Staff report (Federal Reserve Bank of Minneapolis. Research Department)"; "507"; "Tax progressivity", "Mirrlees taxation", "Optimal income taxation", "Flat tax", "Ramsey taxation", "Social welfare functions", "Private insurance"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Research Department"; "Published in: _Journal of Political Economy_ (Vol. 129, No. 11, November 2021, pp. 3141-3184), https://doi.org/10.1086/715851."^^; ; "Publication" . ; ; .