We explore the interaction between two facts. The first is that income is variable; the second is that the tax and transfer system transforms before tax income into after tax income in highly non-linear ways. The effect is to penalize (and reward) income variability in a manner which is both substantial and capricious.
*Published:
Moffitt, Robert and Michael Rothschild. "Variable Earnings and Nonlinear Taxation," Journal of Human Resources, Vol. 22, No. 3, Summer 1987, pp. 405- 421.
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