Realization and Revenue Effects of Lifetime Capital Gains Exemptions
This paper derives estimates of the revenue costs of lifetime capital gains exemptions. Since the exemptions provided a significant stimulus to realizations of capital gains for both shares and real estate, previously published 'tax expenditure' estimates overstate the revenue cost of these exemptions The authors provide alternative estimates of the net present value of the revenue costs of the exemptions which take into account their stimulative impact on realizations.
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Volume (Year): 21 (1995)
Issue (Month): s1 (November)
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References listed on IDEAS
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- Constantinides, George M, 1983. "Capital Market Equilibrium with Personal Tax," Econometrica, Econometric Society, vol. 51(3), pages 611-636, May.
- Glenn P. Jenkins, 1981. "The Public-Sector Discount Rate for Canada: Some Further Observations," Canadian Public Policy, University of Toronto Press, vol. 7(3), pages 399-407, Summer.
- Poterba, James M., 1987. "How burdensome are capital gains taxes?: Evidence from the United States," Journal of Public Economics, Elsevier, vol. 33(2), pages 157-172, July.
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- Stiglitz, Joseph E., 1983. "Some aspects of the taxation of capital gains," Journal of Public Economics, Elsevier, vol. 21(2), pages 257-294, July.
- Joseph E. Stiglitz, 1983. "Some Aspects of the Taxation of Capital Gains," NBER Working Papers 1094, National Bureau of Economic Research, Inc.
- David F. Burgess, 1981. "The Social Discount Rate for Canada: Theory and Evidence," Canadian Public Policy, University of Toronto Press, vol. 7(3), pages 383-394, Summer. Full references (including those not matched with items on IDEAS)
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