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Brief

Taxing Capital Income

William G. Gale, Swati Joshi, Christopher Pulliam, John Sabelhaus
April 20, 2022
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Abstract

Legislated changes affecting capital income have dramatically reduced the federal income tax base and revenues over the past 25 years. A significant share of capital income is never subject to tax. The massive “leakage” between the generation of economic income and the reporting of income on tax forms calls for careful analysis of (a) which forms of income do not show up on tax forms, (b) where in the income distribution that divergence is occurring, (c) how base erosion is changing over time, and (d) the revenue and distributional effects of broadening the capital income tax base.

Research Area

Business Taxes Corporate income tax
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Meet the Experts

  • William G. Gale
    Codirector
  • Swati Joshi
    Senior Research Assistant, Brookings Institution
  • Christopher Pulliam
    Research Analyst, Brookings Institution
  • John Sabelhaus
    Nonresident Senior Fellow, Brookings Institution
Research report

New Evidence on The Effect of The TCJA On the Housing Market

Robert McClelland, Livia Mucciolo, Safia Sayed
March 30, 2022
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