Implications of a Lower Capital Gains Tax Rate in the United States [electronic resource]
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TextSeries: IMF Working Papers; Working Paper ; No. 89/100Publication details: Washington, D.C. : International Monetary Fund, 1989Description: 1 online resource (28 p.)ISBN: 1451948638 :ISSN: 1018-5941Subject(s): Capital Gains Tax | Capital Gains | Capital Income | Capital Losses | United StatesAdditional physical formats: Print Version:: Implications of a Lower Capital Gains Tax Rate in the United StatesOnline resources: IMF e-Library | IMF Book Store Abstract: This paper reviews the literature on the revenue implications of a lower capital gains tax rate in the United States. The existing empirical research indicates that the timing of realizations is sensitive to tax changes but is inconclusive on the long-run revenue implications. No study claims that tax revenues would increase very much on a permanent basis. The paper concludes that other aspects of a lower capital gains tax rate deserves more attention, in particular its impact on resource allocation and tax arbitrage.
This paper reviews the literature on the revenue implications of a lower capital gains tax rate in the United States. The existing empirical research indicates that the timing of realizations is sensitive to tax changes but is inconclusive on the long-run revenue implications. No study claims that tax revenues would increase very much on a permanent basis. The paper concludes that other aspects of a lower capital gains tax rate deserves more attention, in particular its impact on resource allocation and tax arbitrage.
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