PRELIMINARY DRAFT Capital Gains Taxation and Entrepreneurship

نویسندگان

  • William M. Gentry
  • Meghan Shea
چکیده

This draft is quite preliminary so I look forward to our meeting. For me, writing this draft has raised a number of questions about what institutional features of the tax system might explain why the Survey of Consumer Finance data indicates a large stock of unrealized capital gains on actively-managed businesses, but the capital gains on such businesses seem to be relatively modest in the Statistics of Income data. I am currently working on updating the SCF data to use the 2007 data (instead of 2004); based on preliminary tabulations, the more recent data tell a similar story to the older data. I am also in the process of extending the empirical results of Gompers and Lerner that are mentioned in footnote 30 – I hope to be able to report on the results by the end of the month.

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تاریخ انتشار 2010