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Alternative Methods of Taxing Realized and Unrealized Capital Gains

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  • Luc De Wulf

    (International Monetary Fund)

Abstract

Capital gains receive preferential tax treatment under present U.S. legislation. Three alternative methods of taxing these are analyzed and the revenue and distributional implications of these alternatives are simulated for 1966. The methods analyzed are: (1) annual taxation of accrued capital gains; (2) full taxation of realized gains combined with periodic taxation of unrealized gains and taxation of unrealized gains held by decedents (only post-1956 gains are taxed); (3) full taxation of all realized gains combined with constructive realization at death.

Suggested Citation

  • Luc De Wulf, 1974. "Alternative Methods of Taxing Realized and Unrealized Capital Gains," Public Finance Review, , vol. 2(4), pages 451-471, October.
    • Handle: RePEc:sae:pubfin:v:2:y:1974:i:4:p:451-471
    DOI: 10.1177/109114217400200404
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    References listed on IDEAS

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    1. Raymond W. Goldsmith & Robert E. Lipsey & Morris Mendelson, 1963. "Introduction to "Studies in the National Balance Sheet of the United States, Vol. 2"," NBER Chapters, in: Studies in the National Balance Sheet of the United States, Volume 2, pages 1-40, National Bureau of Economic Research, Inc.
    2. Bhatia, Kul B, 1972. "Capital Gains and the Aggregate Consumption Function," American Economic Review, American Economic Association, vol. 62(5), pages 866-879, December.
    3. Raymond W. Goldsmith & Robert E. Lipsey, 1963. "Studies in the National Balance Sheet of the United States, Volume 1," NBER Books, National Bureau of Economic Research, Inc, number gold63-1.
    4. Raymond W. Goldsmith & Robert E. Lipsey & Morris Mendelson, 1963. "Studies in the National Balance Sheet of the United States, Volume 2," NBER Books, National Bureau of Economic Research, Inc, number gold63-2.
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