Sarin, Natasha; Summers, Lawrence Henry; Zidar, Owen M.; … - National Bureau of Economic Research - 2021
We argue the revenue potential from increasing tax rates on capital gains may be substantially greater than previously … deferred when rates change. Second, the composition of capital gains has shifted in recent years, such that the share of gains … that are highly elastic to the tax rate has likely declined. Third, focusing on capital gains tax collection may understate …