Economics, Econometrics and Finance
4 years ago

Taxing life annuities based on longevity could revolutionize income redistribution

SSRN Electronic Journal
Optimum Taxation of Life Annuities
Johann K. Brunner, Susanne Pech

Paper Summary

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The study looked at how taxes on life annuities can be used to redistribute wealth and correct unfair payouts. They found that a tax on annuity payoffs can help collect more money from people who live longer, which can be used for redistribution. They also discovered that a nonlinear tax on annuity payoffs can fix the problem of unfair returns due to hidden information. These findings contrast with previous ideas about taxing capital income.