Monday, June 11, 2012
Auerbach: Reforming Capital Gains Taxation
Alan J. Auerbach (UC-Berkeley, Department of Economics), Reforming Capital Gains Taxation, 135 Tax Notes 1399 (June 11, 2012):
Auerbach argues that by shifting the capital gains tax from new investment to existing assets and by modifying the method of realization-based taxation, it’s possible to construct a progressive tax reform that reduces the lock-in effect, the limits on capital losses that discourage risk-taking, the incentives for recharacterizing other income as capital gains, and the incentives for corporate borrowing.
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http://taxprof.typepad.com/taxprof_blog/2012/06/auerbach-.html