Excerpt from Explanation of Methodology Used to Estimate Proposals Affecting the Taxation of Income From Capital Gains The Joint Committee staff believes the principal reason for the difference in the two revenue estimates is the different predictions of how taxpayers will respond to a reduction in capital gains tax rates. In other words, the Joint Committee staff and Treasury differ in their judgments of the elasticity of taxpayer behavior. Both offices predict that the proposed rate reduction would result in an increased volume of sales of capital assets and, therefore, a substantial increase in the level of gain realizations. However, the Joint Committee staff does not believe this increase will be as large, in percentage terms, as does the Treasury. Specifically. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.