When countries consider expanding their capital gains taxation
to indirect transfers, all share transfers could create concerns.
Unlike Cunningham and Engelhardt (2008), Shan (2011), and Farnham (2006) who focus on the "lock-in" effect of capital gains taxation
prior to TRA97 on mobility, we focus on another lock-in created by capital taxation--the impact on housing consumption.
Capital gains taxation
has caused complexities and distortions throughout the history of the income tax.
For an average-rate taxpayer, there is a slight reduction of 1 percent in capital gains taxation
from collective life insurance plans, while at the other extreme, capital gains from the corporate share's disposal (N = 5) show an increase near 13 percent.
Somewhere between this Identity extreme and the more evangelical mainstream, white theological supremacy closets itself in white cultural normativity, exemplified by a group like the Promise-Keepers which claims for itself an anti-racist personal intention even while many of its leaders and supporters work for rollbacks of affirmative action, cutbacks in capital gains taxation
, an end to minority-based political districting, the abolition of welfare, the privatization of prisons, etc.
Finally, recent discussions of reform of capital gains taxation
are to reduce the rate, shorten the holding period, or eliminate the tax.
Compared to the US, which introduced capital gains taxation
in 1913, it was not until half a century later that a short-term speculative gains tax became law in the UK.(2) A comprehensive capital gains tax was introduced in 1965 after years of public debate.(3) The major capital gains tax law changes covered by this study and their possible effects on year-end trading have been summarized in Appendix 1.
For instance, Allen Sinai, chief global economist at Lehman Brothers, has estimated that a reduction in capital gains taxation
would raise real and nominal gross domestic product by increasing capital spending and capital formation and, thereby, boost future government revenues.
This result does not hold in the presence of capital gains taxation
. To understand this, recall from the proofs of Claims 1 and 2 that, at the optimal switching point, the value of switching immediately equals the value of the option to switch in the future.
The Public Service Association (PSA) has stated its support for the campaign launched yesterday by Tax Justice Aotearoa New Zealand for capital gains taxation
to be included in the Governments move to undertake serious tax reform.
"There can be no growth without incentives, like a temporary reduction in the VAT rate to 5 per cent for transactions relating to construction projects and the reduction of capital gains taxation
," he said.
Thus, there may be capital growth in equities inside the policy that, in other situations involving personal ownership of the equity, would have created long- or short-term capital gains subject to capital gains taxation