STANLEY SURREY AND TAXING UNREALIZED APPRECIATION

In a review of the recently published memoirs of Stanley S. Surrey and the accompanying introductory essay by Ajay Mehrotra and myself, Michael Simkovic criticizes Surrey for not having advocated the taxation of unrealized appreciation, or at least the inclusion of the nontaxation of unrealized appr...

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Bibliographic Details
Published in:Law and contemporary problems 2023-03, Vol.86 (2), p.153
Main Author: Zelenak, Lawrence
Format: Article
Language:English
Subjects:
Appreciation
Autobiographies
Billionaires
Capital assets
Capital gains tax
Deferred tax (Accounting)
Expenditures
History
Laws, regulations and rules
Surrey, Stanley S
Tax expenditures
Tax legislation
Taxation
Taxing power
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Summary:In a review of the recently published memoirs of Stanley S. Surrey and the accompanying introductory essay by Ajay Mehrotra and myself, Michael Simkovic criticizes Surrey for not having advocated the taxation of unrealized appreciation, or at least the inclusion of the nontaxation of unrealized appreciation in the tax expenditure budget. He also criticizes us for not having discussed Surrey’s view on unrealized appreciation in our essay.3 Simkovic asks: “What were Surrey’s views on this issue? What role did Surrey play in the continuation of the realization requirement in tax law?” These are excellent questions, which I attempt to answer here.
ISSN:0023-9186
1945-2322