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Zachary Liscow Profile picture
Zachary Liscow
@ZLiscow
Economist & lawyer. Professor at Yale Law School: economic and tax policy, infrastructure costs. Formerly OMB Chief Economist.
Jun 9, 2021 • 5 tweets • 2 min read
This is important. It might seem like there's tax deferral on “unrealized” gains just b/c of lobbying by the rich or Supreme Court rulings. But my survey of 5k Americans suggests another reason: strong intuitions that unsold gains just aren’t income. 1/5 ssrn.com/abstract=38480… We ask a representative sample of Americans about taxing unsold stock gains – 75% oppose it. Most still oppose it after an argument in favor. Almost half of people with no stock would rather have a tax on everyone than tax unsold stock gains! 2/5
May 18, 2021 • 21 tweets • 8 min read
🚨NEW PAPER🚨 w/ Ed Fox: We do a survey experiment on the psychology of taxing capital income. We find that the public has strong intuitions against imposing income tax on gains in assets before they’re sold. Has big implications for tax policy. 🧵👇1/N
ssrn.com/abstract=38480… Image Throughout the world, the “realization rule” typically requires that assets must be sold before gains are taxed. This is how Bezos, etc. have gotten billions of $ richer while paying little tax. We see if public intuitions can help explain this. 2/N

cbsnews.com/news/billionai…
Dec 1, 2020 • 11 tweets • 4 min read
🚨NEW paper 🚨 w/ Brooks exploring US infrastructure costs across US states, studying the Interstate highways. We find remarkable variation in costs across states and some thought-provoking results on what correlates with construction costs.

ssrn.com/abstract=37257…

1/N Image This work builds on the earlier paper w/ Brooks👇 showing that the cost to build a mile of Interstate roughly tripled between the 1960s and 1980s and exploring possible causes. 2/N

Aug 1, 2019 • 15 tweets • 8 min read
🚨NEW PAPER!🚨 There are major concerns in the US about the cost of building infrastructure, but we have little solid evidence. Leah Brooks and I help fill the gap by studying the Interstate highways.

Paper available at: ssrn.com/abstract=34286…. 1/ We find that, remarkably, between the 1960s and 80s, the cost to build a new mile of Interstate highway **tripled** (in real terms) even as highway-building technologies improved.

But why? 2/