9780833047427

The Benefits to Taxpayers from Increases in Students' Educational Attainment

by
  • ISBN13:

    9780833047427

  • ISBN10:

    0833047426

  • Format: Paperback
  • Copyright: 2009-08-16
  • Publisher: RAND Corporation

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Summary

Meeting the educational demands of the future will be expensive; however, in most states, public schools from kindergarten through the university level already experience budgetary challenges. Policymakers face the challenge of motivating taxpayers to provide the funds needed to meet mounting education needs. In this volume, Carroll and Erkut examine the financial benefits that taxpayers-regardless of whether they have children in school-realize from increases in educational attainment. First, investments in education benefit taxpayers because the investments produce more highly educated individuals, who tend to earn more income than those with lower levels of education and pay more in taxes, thus contributing more to programs such as Social Security. Second, more highly educated individuals are less likely to draw on social support programs, such as Medicare. And finally, more highly educated individuals are less likely to commit crimes, so increases in educational attainment reduce public spending on incarceration. Carroll and Erkut estimate the monetary value of these benefits over an individuals lifetime and how they vary as a result of education level. Book jacket.

Table of Contents

Prefacep. iii
Figuresp. ix
Tablesp. xi
Summaryp. xiii
Acknowledgmentsp. xxi
Abbreviationsp. xxiii
Introductionp. 1
The Problemp. 1
Research Objectivep. 2
The Costs of Providing Education Versus the Overall Costs of Increasing Educational Attainmentp. 2
Research Questionsp. 3
Illustrative Examplesp. 5
Previous Researchp. 7
Definition of Termsp. 9
Organization of the Reportp. 10
Analytic Approachp. 13
Independent Variablesp. 13
Education and Earningsp. 14
Tax Paymentsp. 18
Federal Income Taxesp. 18
State and Local Taxesp. 19
Payroll Taxesp. 19
Social Program Participation and Costsp. 19
Incarceration Costsp. 21
Estimating the Effects of Increased Educationp. 22
Transformationsp. 24
Critical Assumptionsp. 25
Putting the Results in Perspectivep. 27
Payments for Taxes and Social Programsp. 29
Taxation Mechanismsp. 29
Educational Attainment and Earningsp. 31
Federal and State Tax Ratesp. 32
Federal Income Tax Ratesp. 32
Payroll Tax Ratesp. 33
Average State Tax Ratesp. 34
The Effects of Increased Educational Attainment on Tax Paymentsp. 34
Related Studiesp. 36
The Effects of Multilevel Increases in Educational Attainment on Tax Paymentsp. 37
Sensitivity Analysisp. 37
Summaryp. 39
Spending on Social Support Programsp. 41
Backgroundp. 41
Analytic Approachp. 42
Effects of Educational Attainment on the Costs of Welfare Programsp. 44
Effects of Educational Attainment on the Costs of Housing Subsidiesp. 46
Effects of Educational Attainment on the Costs of Food Stampsp. 47
Effects of Educational Attainment on Supplemental Security Income Spendingp. 49
Effects of Educational Attainment on Medicaid Spendingp. 50
Effects of Educational Attainment on Medicare Spendingp. 52
Effects of Educational Attainment on the Costs of Unemployment Insurancep. 53
Effects of Educational Attainment on Social Security Spendingp. 55
Effects of Educational Attainment on Spending on Social Programsp. 56
Sensitivity Analysisp. 58
Summaryp. 60
Educational Attainment and Spending on the Corrections Systemp. 61
Analytic Approachp. 62
The Effect of Educational Attainment on Crime Ratesp. 63
Effects of Educational Attainment on Incarceration Costsp. 65
Sensitivity Analysisp. 67
Summaryp. 68
The Costs of Providing Additional Educationp. 69
Educational Attainment and Public Revenues and Costsp. 73
Effects of Increases in Education on the Public Budgetp. 73
Tax Paymentsp. 73
Spending on Social Support and Insurance Programsp. 74
Incarceration Costsp. 74
Costs of Increased Educationp. 75
Net Benefits from Increased Educational Attainmentp. 75
The Effects of Increased Educational Attainment: An Examplep. 80
Sensitivity Analysisp. 82
Putting the Estimates in Perspectivep. 84
Summaryp. 85
Appendixes
Data and Sourcesp. 87
Estimating Tax Paymentsp. 91
Social Program Participation and Costsp. 95
Incarceration Cost Estimationsp. 111
Referencesp. 113
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