Economic Issues in the Taxation of Capital Gains

George Zodrow ()

Canadian Public Policy, 1995, vol. 21, issue s1, 27-57

Abstract: This paper reviews the literature on the effects of capital gains taxes in the United States, focusing on three major issues. First, it considers the long-run effects of capital gains taxes on the level of realizations and revenues, including the extent to which the literature has resolved the issue of whether the realizations response to a capital gains tax will be large enough to result in a revenue increase. Second, it examines the efficiency implications of capital gains taxes, including effects on saving and investment, the 'lock-in' effect, and effects on risk-taking. Finally, the paper reviews several recent studies of the distributional effects of capital gains taxation.

Date: 1995
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Citations: View citations in EconPapers (4)

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