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Full-Text Articles in Social and Behavioral Sciences
Notes On The Effect Of Capital Gains Taxation On Non-Austrian Assets, Dan Kovenock, Michael Rothschild
Notes On The Effect Of Capital Gains Taxation On Non-Austrian Assets, Dan Kovenock, Michael Rothschild
Economics Faculty Books and Book Chapters
This paper is an attempt to assess the effect of capital gains taxation on non-Austrian assets, such as claims to profits of continuing enterprises. As compared to taxation on an accrual basis, the capital gains tax discourages sales of appreciated assets. This is the "lock-in" effect. Because assets subject to capital gains taxation are generally held a long time, conventional estimates suggest that the effective rate of capital gains taxation is low. We contend that conventional estimates could seriously underestimate the effective rate of capital gains taxation because they ignore uncertainty. We construct a model which allows us to calculate …
Capital Gains Taxation In An Economy With An ‘Austrian Sector’, Dan Kovenock, Michael Rothschild
Capital Gains Taxation In An Economy With An ‘Austrian Sector’, Dan Kovenock, Michael Rothschild
Economics Faculty Articles and Research
This paper examines the effects of a proportional capital gains in an economy with an Austrian sector (with wine and trees) and an ordinary sector. We analyze the effect of capital gains taxation (on both an accrual and a realization basis) on the efficiency with which resources are used within the Austrian sector. Since time is the only input which can be varied in the Austrian sector, this amounts to looking at the effect of capital gains taxation on the harvesting time or selling time of assets. Accrual taxation decreases the selling time of Austrian assets. Realization taxation decreases the …
The Case For Tax Loopholes, Murray L. Weidenbaum
The Case For Tax Loopholes, Murray L. Weidenbaum
Murray Weidenbaum Publications
An examination of tax "loopholes" or expenditures shows that in some instances they can help in promoting business investment and economic growth. Middle- and lower-income groups also benefit from these loopholes.
The Debate Over Saving, Investment And Capital Shortages, Murray L. Weidenbaum
The Debate Over Saving, Investment And Capital Shortages, Murray L. Weidenbaum
Murray Weidenbaum Publications
This piece discusses the importance of saving and investment.