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Simons, H. C. (1938). Personal Income Taxation. University of Chicago Press.

has been cited by the following article:

• TITLE: Capital Gains Due to Changes in the Market Discount Rate and Workers’ Welfare

  AUTHORS: Geoffrey Woglom

  KEYWORDS: E200: Definition of Income, E210: Consumption Savings and Wealth, G120: Asset Pricing

  JOURNAL NAME: Modern Economy, Vol.14 No.9, September 4, 2023

  ABSTRACT: The paper analyzes how capital gains due to a reduction in the market discount rate affect life-cycle consumption choice. The analysis is done in a simple general equilibrium model with cohorts of workers and retirees all with constant relative risk aversion preferences. Simulation results show capital gains due to a fall in market discount rates make workers worse off with the exception of those with less than 7 years to retirement. The analysis has policy implication for the taxation of capital gains.