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A HAIG-SIMONS-TIEBOUT COMPREHENSIVE INCOME TAX
CHARLES R. HULTEN and ROBERT M. SCHWAB
National Tax Journal
Vol. 44, No. 1 (March, 1991), pp. 67-78
Published by: National Tax Association
Stable URL: http://www.jstor.org/stable/41788878
Page Count: 12
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This paper argues that if we wish to have a comprehensive income tax, and if the Tiebout model is a reasonable approximation of the structure of local government, then the implicit income from the local public capital stock must be included in the tax base. In a pure Tiebout world, there are no important differences between publicly owned capital (e.g., streets, parks, schools) and privately owned capital (e.g., owner-occupied housing). Therefore the imputed income from the street in front of a family's home must be included in the base of a comprehensive income tax, just as the implicit income from the home itself must be included.
National Tax Journal © 1991 National Tax Association