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Wealth And The Distribution Of Income: Permanent And Transitory Effects

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  • M. H. Tuttle
  • Jean Gauger

Abstract

This paper examines the permanent and transitory effects of changes in wealth, the top federal marginal income tax rate, and capital gains tax rate on the distribution of Adjusted Gross Income (AGI). This paper establishes the importance of wealth in determining the distribution of AGI, and results here suggest that its effects can negate the permanent effect of a change in both tax rates. Of the two tax rates, the capital gains tax rate is the most important for AGI distribution. The marginal income tax rate is notably less important for long run behavior, but does have short run impacts.

Suggested Citation

  • M. H. Tuttle & Jean Gauger, 2006. "Wealth And The Distribution Of Income: Permanent And Transitory Effects," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 52(4), pages 493-508, December.
    • Handle: RePEc:bla:revinw:v:52:y:2006:i:4:p:493-508
    DOI: 10.1111/j.1475-4991.2006.00208.x
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    Cited by:

    1. Thomas Goda & Özlem Onaran & Engelbert Stockhammer, 2017. "Income Inequality and Wealth Concentration in the Recent Crisis," Development and Change, International Institute of Social Studies, vol. 48(1), pages 3-27, January.
    2. Thomas Goda, 2018. "The global concentration of wealth [Persistence of power, elites, and institutions]," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 42(1), pages 95-115.
    3. Thomas Goda, 2014. "Global trends in relative and absolute wealth concentrations," Documentos de Trabajo de Valor Público 10897, Universidad EAFIT.

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