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CAPITAL GAINS TAXATION, GROWTH, AND FAIRNESS
Author(s) -
MINARIK JOSEPH J.
Publication year - 1992
Publication title -
contemporary economic policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.454
H-Index - 49
eISSN - 1465-7287
pISSN - 1074-3529
DOI - 10.1111/j.1465-7287.1992.tb00232.x
Subject(s) - economics , capital (architecture) , capital gains tax , public economics , yield (engineering) , rest (music) , monetary economics , tax reform , microeconomics , labour economics , indirect tax , materials science , archaeology , metallurgy , history , medicine , cardiology
The question at the heart of the capital gains tax debate is whether taxing some people at a different rate than others having the same income is appropriate. Those who justify such a preference base their arguments on the concepts of economic efficiency and fairness. However, recent experience with capital gains tax decreases and increases strongly suggests that a change in the current law would yield little or no benefit. The burden of proof should rest on those who would violate the basic principle of equal tax rates on incomes from whatever source.