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*Three main conclusions follow from the data. First, capital gains realizations and revenues are highly responsive to changes in the tax rate. When this sensitivity is ignored or understated by official revenue analysis, huge errors have resulted, as in the previous capital gains debate. Second, there is no evidence from the actual historical data demonstrating that capital gains tax rate reduction would reduce revenues. Third, on the basis of the historical data on capital gains realizations and revenues, it would be reasonable to expect higher revenues to follow a reduction of the capital gains tax rate. [http://www.house.gov/jec/fiscal/tx-grwth/process/process.htm#endnotes]
*Three main conclusions follow from the data. First, capital gains realizations and revenues are highly responsive to changes in the tax rate. When this sensitivity is ignored or understated by official revenue analysis, huge errors have resulted, as in the previous capital gains debate. Second, there is no evidence from the actual historical data demonstrating that capital gains tax rate reduction would reduce revenues. Third, on the basis of the historical data on capital gains realizations and revenues, it would be reasonable to expect higher revenues to follow a reduction of the capital gains tax rate. [http://www.house.gov/jec/fiscal/tx-grwth/process/process.htm#endnotes]
==Notes==
<references />
[[category:Taxation]]
[[category:Taxation]]