Philly Fed study shows capital income tax should be nullified
A paper published by the Philadelphia Federal Reserve in April studies the effects of preferential tax treatment on homeownership and the optimal capital income tax in the United States.
The paper investigates the optimal capital income taxation in the general equilibrium overlapping generations model, incorporating the characteristics of housing and the US preferential tax treatment for owner-occupied housing.
Whether the government should tax capital income in the long run has been an
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