Stop taxing happiness : a new perspective on progressive taxation

Bagaric, Mirko and McConvill, James A. 2005, Stop taxing happiness : a new perspective on progressive taxation, Pittsburgh tax review, vol. 2, no. 2, Spring, pp. 65-91.

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Title Stop taxing happiness : a new perspective on progressive taxation
Author(s) Bagaric, Mirko
McConvill, James A.
Journal name Pittsburgh tax review
Volume number 2
Issue number 2
Season Spring
Start page 65
End page 91
Publisher University of Pittsburgh School of Law
Place of publication Pittsburgh, PA
Publication date 2005
ISSN 1932-1821
Summary The development of taxation law and policy has been driven largely by economic considerations and economic theory. Underlying this is the assumption that money is important to human well-being and is in fact the most important thing in this regard. Recent empirical studies of human well-being disprove this assumption. Money has only a limited bearing on happiness. It follows that economic arguments that have long shaped taxation law and policy should be discarded in preference for recent learning concerning what really matters to people. The results of the recent studies have significant implications for the manner in which we should raise tax. We argue that for income under approximately $20,000 the rate should be 0 to 5 per cent. For income between $20,000 to $50,000 the rate should be about 15 per cent. Incomes beyond this level should taxed at approximately 75 per cent. There is no reason to have further rate differentials.
Language eng
Field of Research 180125 Taxation Law
HERDC Research category C2 Other contribution to refereed journal
Copyright notice ©2005, HeinOnline
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Document type: Journal Article
Collection: Law
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