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- Title
THE QUESTION OF TAXING CAPITAL GAINS: II. THE CASE AGAINST TAXATION.
- Authors
NELSON, GODFREY N.
- Abstract
The author argues against tax on capital gains in the U.S. by referring to the tax treatment of capital gains in several countries across the world. It states that there should not be any income tax on capital gains as, although income may be transformed by accumulation into capital, the growth of capital itself is not income. It reports that in France capital gains are not taxed until and unless the taxpayer is regarded as being engaged wholly or partly in the business of buying and selling securities. It states that if one analyzes the long-term capital gains then it will become evident that they are frequently not real income at all, and thus results in no real benefit to the taxpayers.
- Subjects
FRANCE; UNITED States; CAPITAL gains tax; TAXATION; GOVERNMENT revenue; INTERNAL revenue; TAX deductions; TAX exemption
- Publication
Law & Contemporary Problems, 1940, Vol 7, Issue 2, p208
- ISSN
0023-9186
- Publication type
Article
- DOI
10.2307/1189616