Joel Slemrod | |
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| Born | July 14, 1951 Newark, New Jersey, U.S. |
| Institution | University of Michigan |
| Field | Public economics |
| Alma mater | Princeton University (AB) Harvard University (MA, PhD) |
| Doctoral advisor | Martin Feldstein |
| Doctoral students | Lillian Mills |
| Contributions | |
| Awards | Daniel M. Holland Medal, National Tax Association (2012) [1] |
| Information at IDEAS / RePEc | |
| Website | Joel Slemrod |
Joel Brian Slemrod (born July 14, 1951) [2] is an American economist and academic, currently serving as a professor of economics at the University of Michigan and the Paul W. McCracken Collegiate Professor of Business Economics and Public Policy at the Stephen M. Ross School of Business at the University of Michigan. [3]
He earned a Bachelor of Arts degree from Princeton University in 1973 and a Ph.D. in economics from Harvard University in 1980. [4]
Slemrod has served on the faculty of the University of Michigan since 1987, and does research on taxation, with a focus on taxation of personal income. He is co-author of Taxing Ourselves: A Citizen's Guide to the Great Debate over Tax Reform and the editor of Does Atlas Shrug? The Economic Consequences of Taxing the Rich. [5] Slemrod also serves as Director of the Office of Tax Policy Research, which is a research center at the University of Michigan on matters of tax policy. [6]
In 2001, Slemrod shared an Ig Nobel Prize with Wojciech Kopczuk, of Columbia University, for a paper concluding that people find a way to postpone their deaths if that would qualify them for a lower rate on the inheritance tax. [7] [8] In 2012, Slemrod was awarded the Daniel M. Holland Medal by the National Tax Association. [1]
Slemrod has authored op-ed articles for The New York Times and The Hill. He has also been featured on CNBC and Fox Business. [9] [10] [11]
A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer by a governmental organization in order to fund government spending and various public expenditures, and tax compliance refers to policy actions and individual behaviour aimed at ensuring that taxpayers are paying the right amount of tax at the right time and securing the correct tax allowances and tax reliefs. The first known taxation took place in Ancient Egypt around 3000–2800 BC. A failure to pay in a timely manner (non-compliance), along with evasion of or resistance to taxation, is punishable by law. Taxes consist of direct or indirect taxes and may be paid in money or as its labor equivalent.
Tax law or revenue law is an area of legal study in which public or sanctioned authorities, such as federal, state and municipal governments use a body of rules and procedures (laws) to assess and collect taxes in a legal context. The rates and merits of the various taxes, imposed by the authorities, are attained via the political process inherent in these bodies of power, and not directly attributable to the actual domain of tax law itself.
Economic history is the study of history using methodological tools from economics or with a special attention to economic phenomena. Research is conducted using a combination of historical methods, statistical methods and the application of economic theory to historical situations and institutions. The field can encompass a wide variety of topics, including equality, finance, technology, labour, and business. It emphasizes historicizing the economy itself, analyzing it as a dynamic entity and attempting to provide insights into the way it is structured and conceived.
Supply-side economics is a macroeconomic theory that postulates economic growth can be most effectively fostered by lowering taxes, decreasing regulation, and allowing free trade. According to supply-side economics, consumers will benefit from greater supplies of goods and services at lower prices, and employment will increase. Supply-side fiscal policies are designed to increase aggregate supply, as opposed to aggregate demand, thereby expanding output and employment while lowering prices. Such policies are of several general varieties:
The economy of governments covers the systems for setting levels of taxation, government budgets, the money supply and interest rates as well as the labour market, national ownership, and many other areas of government interventions into the economy.
A progressive tax is a tax in which the tax rate increases as the taxable amount increases. The term progressive refers to the way the tax rate progresses from low to high, with the result that a taxpayer's average tax rate is less than the person's marginal tax rate. The term can be applied to individual taxes or to a tax system as a whole. Progressive taxes are imposed in an attempt to reduce the tax incidence of people with a lower ability to pay, as such taxes shift the incidence increasingly to those with a higher ability-to-pay. The opposite of a progressive tax is a regressive tax, such as a sales tax, where the poor pay a larger proportion of their income compared to the rich.
Trickle-down economics is a term used in critical references to economic policies to say they disproportionately favor the upper end of the economic spectrum, i.e. wealthy investors and large corporations. In recent history, the term has been used broadly by critics of supply-side economics. Major US examples of what critics have called "trickle-down economics" include the Reagan tax cuts, the Bush tax cuts, and the Tax Cuts and Jobs Act of 2017. Major UK examples include the tax cut policies of Margaret Thatcher, the economic policies of Friedrich Hayek, and Liz Truss's mini-budget tax cuts of 2022. As of 2023, a number of studies have failed to demonstrate a link between reducing tax burdens on the upper end and economic growth.
Tax policy refers to the guidelines and principles established by a government for the imposition and collection of taxes. It encompasses both microeconomic and macroeconomic aspects, with the former focusing on issues of fairness and efficiency in tax collection, and the latter focusing on the overall quantity of taxes to be collected and its impact on economic activity. The tax framework of a country is considered a crucial instrument for influencing the country's economy.
Caroline Minter Hoxby is an American economist whose research focuses on issues in education and public economics. She is currently the Scott and Donya Bommer Professor in Economics at Stanford University and program director of the Economics of Education Program for the National Bureau of Economic Research. Hoxby is a John and Lydia Pearce Mitchell University Fellow in Undergraduate Education. She is also a senior fellow at the Hoover Institution and the Stanford Institute for Economic Policy Research.
Optimal tax theory or the theory of optimal taxation is the study of designing and implementing a tax that maximises a social welfare function subject to economic constraints. The social welfare function used is typically a function of individuals' utilities, most commonly some form of utilitarian function, so the tax system is chosen to maximise the aggregate of individual utilities. Tax revenue is required to fund the provision of public goods and other government services, as well as for redistribution from rich to poor individuals. However, most taxes distort individual behavior, because the activity that is taxed becomes relatively less desirable; for instance, taxes on labour income reduce the incentive to work. The optimization problem involves minimizing the distortions caused by taxation, while achieving desired levels of redistribution and revenue. Some taxes are thought to be less distorting, such as lump-sum taxes and Pigouvian taxes, where the market consumption of a good is inefficient, and a tax brings consumption closer to the efficient level.
Dr. John T. Scholz is the Francis Eppes Distinguished Professor of Political Science and a Courtesy Professor of Law at Florida State University. As the first political scientist to formulate the "regulation game," which was later extended in influential work on responsive regulation by John Braithwaite and Ian Ayres. Scholz is widely regarded as one of the leading political scientists addressing regulatory enforcement.
Redistribution of income and wealth is the transfer of income and wealth from some individuals to others through a social mechanism such as taxation, welfare, public services, land reform, monetary policies, confiscation, divorce or tort law. The term typically refers to redistribution on an economy-wide basis rather than between selected individuals.
Steven M. Sheffrin is an economist who focuses on property tax limitations in the United States. He is the Director Emeritus of Tulane University’s Murphy Institute and a professor of economics. Sheffrin is an expert in state taxation and served as a member on Louisiana's state Task Force on the Structural Changes in Budget and Tax Policy in 2016.
Economic globalization is one of the three main dimensions of globalization commonly found in academic literature, with the two others being political globalization and cultural globalization, as well as the general term of globalization. Economic globalization refers to the widespread international movement of goods, capital, services, technology and information. It is the increasing economic integration and interdependence of national, regional, and local economies across the world through an intensification of cross-border movement of goods, services, technologies and capital. Economic globalization primarily comprises the globalization of production, finance, markets, technology, organizational regimes, institutions, corporations, and people.
Optimal capital income taxation is a subarea of optimal tax theory which studies the design of taxes on capital income such that a given economic criterion like utility is optimized.
Clement Lowell Harriss (1912–2009) was an American economist, a past president of the National Tax Association and a former executive director of the Academy of Political Science. He was one of the United States' leading tax experts and the author of highly regarded economics textbooks and other books on economic subjects. He was professor emeritus of economics at Columbia University and taught there for 43 years. He was the professor for whom the C. Lowell Harriss Professorship of Economics and International Affairs at the School of International and Public Affairs at Columbia was named.
James R. Hines Jr. is an American economist and a founder of academic research into corporate-focused tax havens, and the effect of U.S. corporate tax policy on the behaviors of U.S. multinationals. His papers were some of the first to analyse profit shifting, and to establish quantitative features of tax havens. Hines showed that being a tax haven could be a prosperous strategy for a jurisdiction, and controversially, that tax havens can promote economic growth. Hines showed that use of tax havens by U.S. multinationals had maximized long-term U.S. exchequer tax receipts, at the expense of other jurisdictions. Hines is the most cited author on the research of tax havens, and his work on tax havens was relied upon by the CEA when drafting the Tax Cuts and Jobs Act of 2017.
Henrik Jacobsen Kleven is a Danish economist who is currently a Professor of Economics and Public Affairs at Princeton University. He is also Co-Editor of the American Economic Review. His research lies inside the domain of Public Economics and Inequality, in particular questions about tax policy and welfare programs. He combines economic theory and empirical evidence to show ways of designing more effective public policies. His work has had policy impact in both developed and developing countries.
Wojciech Kopczuk is a professor of economics at Columbia University. He is currently the editor-in-chief of the Journal of Public Economics.
Reuven Avi-Yonah is a tax attorney, academic, and author. He is the Irwin I. Cohn Professor of Law, and the director of the International Tax LLM Program at the University of Michigan. He is most known for his research on corporate and international taxation, and is the author of several books including Advanced Introduction to International Tax, Global Perspectives on Income Taxation Law, and International Tax as International Law.
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