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Economic Issues in the Taxation of Capital Gains

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  • George R. Zodrow

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.

Suggested Citation

  • George R. Zodrow, 1995. "Economic Issues in the Taxation of Capital Gains," Canadian Public Policy, University of Toronto Press, vol. 21(s1), pages 27-57, November.
    • Handle: RePEc:cpp:issued:v:21:y:1995:i:s1:p:27-57
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    Cited by:

    1. Fischer, Carolyn & Kerr, Suzi & Toman, Michael, 1998. "Using Emissions Trading to Regulate U.S. Greenhouse Gas Emissions: An Overview of Policy Design and Implementation Issues," National Tax Journal, National Tax Association;National Tax Journal, vol. 51(3), pages 453-464, September.
    2. Jacob, Martin, 2008. "Welche privaten Veräußerungsgewinne sollten besteuert werden?," arqus Discussion Papers in Quantitative Tax Research 49, arqus - Arbeitskreis Quantitative Steuerlehre.
    3. Vijay M. Jog, 1995. "The Lifetime Capital Gains Exemption: Corporate Financing, Risk-taking and Allocation Efficiency," Canadian Public Policy, University of Toronto Press, vol. 21(s1), pages 116-135, November.

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