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Capital Gains Taxation, Growth, And Fairness

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  • JOSEPH J. MINARIK

Abstract

The question at the heart of the capital gains tax debate is whether taxing some people at a different rate than others having the same income is appropriate. Those who justify such a preference base their arguments on the concepts of economic efficiency and fairness. However, recent experience with capital gains tax decreases and increases strongly suggests that a change in the current law would yield little or no benefit. The burden of proof should rest on those who would violate the basic principle of equal tax rates on incomes from whatever source.

Suggested Citation

  • Joseph J. Minarik, 1992. "Capital Gains Taxation, Growth, And Fairness," Contemporary Economic Policy, Western Economic Association International, vol. 10(3), pages 16-25, July.
    • Handle: RePEc:bla:coecpo:v:10:y:1992:i:3:p:16-25
    DOI: 10.1111/j.1465-7287.1992.tb00232.x
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    References listed on IDEAS

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    1. Martin Feldstein & Joel Slemrod & Shlomo Yitzhaki, 1980. "The Effects of Taxation on the Selling of Corporate Stock and the Realization of Capital Gains," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 94(4), pages 777-791.
    2. Lawrence B. Lindsey, 1987. "Capital Gains Taxes Under the Tax Reform Act of 1986: Revenue EstimatesUnder Various Assumptions," NBER Working Papers 2215, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Ho, Wai-Hong & Wang, Yong, 2007. "Factor income taxation and growth under asymmetric information," Journal of Public Economics, Elsevier, vol. 91(3-4), pages 775-789, April.
    2. Uhlig, Harald & Yanagawa, Noriyuki, 1996. "Increasing the capital income tax may lead to faster growth," European Economic Review, Elsevier, vol. 40(8), pages 1521-1540, November.
    3. Steven M. Fazzari & Benjamin Herzon, 1995. "Capital Gains Tax Cuts, Investment, and Growth," Economics Working Paper Archive wp_147, Levy Economics Institute.
    4. Michael Hudson & Kris Feder, 1997. "Real Estate and the Capital Gains Debate," Economics Working Paper Archive wp_187, Levy Economics Institute.
    5. Michael Hudson & Kris Feder, "undated". "What's Missing from the Capital Gains Debate? Real Estate and Capital Gains Taxation," Economics Public Policy Brief Archive ppb_32, Levy Economics Institute.

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