Labor or Capital Income Tax for Growth in an Aging Society

Yusuke Miyake


This study analyzes whether taxation of labor income or capital income maximizes growth rates, with labor-argument type model, in an aging society. There are certain conditions that maximize growth rates which are indicated by the share of public capital-public pensions. The results of this analysis taxing capital income is better in an economy where private capital is drastically larger than the public capital found in an aging society.

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Applied Economics and Finance    ISSN 2332-7294 (Print)   ISSN 2332-7308 (Online)

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