Capital Taxation and Electoral Accountability

  title={Capital Taxation and Electoral Accountability},
  author={WR EH TXRWHG and ZLWKRXW SHUPLVVLRQ and Toke S. Aidt and Francesco Magris and M. J. Daunton and E Bo and Geoffrey Brennan and M. Guillard and Philipp Harms and Anke S. Kessler and Arye Hillman and Vania Sena and Leslie Reinhorn},
  • WR EH TXRWHG, ZLWKRXW SHUPLVVLRQ, +10 authors Leslie Reinhorn
  • Published 2003
In a representative democracy, voters can use elections to protect their property by holding politicians accountable for the tax policies they implement while in office. This paper demonstrates that performance voting can — partly or wholly — solve the capital levy problem. We characterize the “best” non-expropriating tax policies that can be sustained in a stationary Markov Perfect Equilibrium; show when this coincides with the second best tax policy; and discuss, in detail, the robustness of… CONTINUE READING

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