University of Pennsylvania Capital Gains Taxation in the United States : Realizations , Revenue , and Rhetoric

@inproceedings{Auerbach2007UniversityOP,
  title={University of Pennsylvania Capital Gains Taxation in the United States : Realizations , Revenue , and Rhetoric},
  author={Alan J. Auerbach},
  year={2007}
}
IN 1985, individuals filing U.S. tax returns reported $166.4 billion of long-term capital gains in excess of short-term capital losses.' The following year Congress enacted a significant increase in capital gains taxes effective in 1987, and capital gains realizations for 1986 nearly doubled, to $324.8 billion.2 That investors' expectations of tax changes would alter their realization practices markedly comes as no surprise. How changing rates would affect tax revenues and realizations in the… CONTINUE READING

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