Maurice Tutor

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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 29 Oct 2017 My Price 9.00

proportional tax

In a hypothetical economy, there is a simple proportional tax on wages imposed at a rate t. There are plenty of jobs around; so if people enter the labor force, they can find work. We define total government receipts from the tax as

T = t × W × L

where t = the tax rate, W = the gross wage rate, and L = the total supply of labor. The net wage rate is

Wn = (1 - t) W

The elasticity of labor supply is defined as

Suppose t was cut from .25 to .20. For such a cut to increase total government receipts from the tax, how elastic must the supply of labor be? (Assume a constant gross wage.) What does your answer imply about the supply-side assertion that a cut in taxes can increase tax revenues?

 

Answers

Maurice Tutor
(5)
Status NEW Posted 29 Oct 2017 09:10 PM My Price 9.00

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