Research On The Intergenerational Transfer Of Chinese Househ-Olds'Wealth,the Formation Of Intergenerational Distribution Of Middle Income Class And Tax Regulation

This study is an important part of the National Social Science Fund project,“Research on the Adjustment of Wealth by Intergenerational Transfer and the Expansion of the Scale of the "Middle-Class Stratum"(15BGY132).Inter-generational transfer of wealth is an economic activity that occurs in the context of Chinese ethics.The formation and change of the inter-generational distribution among the middle-income groups is an economic process and is affected by many factors.The purpose of this study is to verify how taxes regulate the formation and change of inter-generational transfer of wealth and generation distribution of middle-income groups in order to expand the influencing factors of middle-income class research.Based on the relevant theoretical foundation of economic fairness,efficiency and freedom,this study statistically analyzes the status quo of inter-generational transfer of household wealth and generation distribution of middle-income groups,and expounds the current tax system's regulation of inter-generational transfer of wealth and middle-income class Status quo,using micro-data empirical analysis of the inter-generational transfer of wealth across generations on the inter-generational distribution of income,empirically analyzes the influence mechanism of the intergenerational distribution of wealth under the effect of taxation on the intergenerational distribution of the middle-income class,and further measures the impact of tax-adjusted wealth intergenerational transfer differences on the intergenerational welfare changes of the middle-income class.The main research content:(1)Review relevant theories concerning the intergenerational distribution of middle-income and the intergenerational transfer of wealth,review the related theories of tax-adjusted wealth intergenerational transfer,and construct the theory models of tax-adjusted intergenerational transfer of wealth and intergenerational distribution of middle-income classes;(2)Statistics and comparative analysis of the status quo of inter-generational transfer of household wealth,defining the connotation of middle-income intergenerational distribution,measuring the inter-generational distribution of middle-income classes,measuring KP progressive index and comparing the status of intergenerational distribution of tax burden among middle-income groups;(3)Theoretical analysis of the current status of tax system in regulating intergenerational wealth transfer and intergenerational income stratification;(4)Based on the asymmetric short panel model and the panel binary selection model,examine the influence of different types of wealth intergenerational transfer values on the formation and change of different income strata of different fathers and offspring and the generation of intergenerational income stratum matching;(5)Based on the instrumental variable method to verify the effect of inter-generational distribution of taxation-adjusted fortune on the intergenerational distribution of middle-income strata,and to analyze the differences in tax-adjusted wealth intergenerational transfers to inter-generational welfare differences through the Blinder-Oaxaca decomposition model.The main research conclusion:(1)The structure,scale,and influencing factors of inter-generational transference of household wealth in China are dynamic and multidimensional;(2)The middle-income group structure shows an ascending trend at the same time point and the speed difference between generations and urban and rural areas is significant;(3)The current tax system regulates the distribution of household income does not support the formation of “middle income stratum”;(4)Wealth intergenerational transfers have different welfare effects due to the heterogeneity of the subjects and the transfer methods in the process of transfer;(5)Individuals The function of income tax is highlighted in the mechanism of “wealth intergenerational transfer affects the formation of the middle-income class”;(6)Different types of taxes regulate the intergenerational transfer of wealth and their contribution to the intergenerational welfare of the middle-income class varies greatly.The main policy recommendations:(1)Public policies should focus on the solidification of income for low-income groups and high-income groups;(2)Perfect and improve a comprehensive tax system that helps regulate wealth transfer across generations;(3)Reform and improvement The personal income tax system encourages the cultivation of the middle-income class and the increase in the proportion of the income class;(4)The effective market should encourage the intergenerational flow of wealth to encourage the intergenerational transmission of intelligence and education.