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OMB revenue estimate VoorArgument1 #231563 Dubay relies on a revenue estimate taken from the OMB Analytical Perspectives document on the FY2013 Budget. A table on page 261 a figure of $23.86 billion for 2013 from moving to a step-up basis.

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Ruling out "step up" »Ruling out "step up"Ruling out "step up"☜The TPC analysis assumed that, in the wake of abolition of estate duties, there would be no adjustment of the current capital gains treatment that in assessing inherited assets, excludes gains made between purchase and death. However in this case moving to a carry over basis would make sense.☜98CE71

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OMB revenue estimateOMB revenue estimate☜Dubay relies on a revenue estimate taken from the OMB Analytical Perspectives document on the FY2013 Budget. A table on page 261 a figure of $23.86 billion for 2013 from moving to a step-up basis.☜98CE71

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Assumes acrrued gains taxed on death »Assumes acrrued gains taxed on deathAssumes acrrued gains taxed on death☜Barro says Dubay gets it wrong on the revenue gain from moving to a carry-over basis. This is because the OMB estimate that Dubay relies on presumes gains would be taxed on an accruals basis immediately upon death, as stated in a footnote (see citation).☜EF597B

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Link[1] Analytical Perspectives - Budget of the U.S. Government (FY2013)

Citerend uit: Office of Management and Budget
Publication info: 2012
Geciteerd door: Peter Baldwin 11:45 PM 19 October 2012 GMT
Citerank: (1) 231564Assumes acrrued gains taxed on deathBarro says Dubay gets it wrong on the revenue gain from moving to a carry-over basis. This is because the OMB estimate that Dubay relies on presumes gains would be taxed on an accruals basis immediately upon death, as stated in a footnote (see citation).13EF597B
URL:

http://www.whitehouse.gov/sites/default/files/omb/budget/fy2013/assets/spec.pdf?page=261

Fragment-

Table on page 261 contains the following entry:

Step-up basis of capital gains tax -
2013....... ..............................23,860 ($millions)
2013-17...............................182,210 ($millions)

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Gemaakt door: Peter Baldwin
NodeID: #231563
Node type: SupportiveArgument
Gemaakt op (GMT): 10/19/2012 11:43:00 PM
Laatste bewerking (GMT): 10/19/2012 11:49:00 PM
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