taxdata Update for new CBO budget outlook

CBO updated their 10-year budget outlook on Sep 2.

https://www.cbo.gov/publication/56517

Sep 16 '20 10:09 MattHJensen

Updates are running now. Will open a PR once they're done.

Sep 16 '20 18:09 andersonfrailey

Seems like they took capital gains realizations out of the revenue projections again so there's nothing to update here. Hopefully they will at least still include them in the January updates. If not, we'll need to find a work around.

Sep 16 '20 22:09 andersonfrailey

Not sure exactly what you're looking for but CBO has capital gain or loss projections in row 15 of the 3.Individual Income Tax Details tab of this spreadsheet.

Sep 17 '20 09:09 donboyd5

Thanks @donboyd5! This is probably our best alternative if we need to make the switch.

Sep 27 '20 20:09 andersonfrailey

@andersonfrailey, sorry for falling behind here, do you mind clarifying what you mean by "make the switch?" Are the numbers Don linked to a different concept / source from what has been used in TaxData?

Sep 28 '20 00:09 MattHJensen

My thoughts on that question:

It would, of course, be easy to do a temporary fix in which you splice CBO's current projected growth rates of capital gains and losses onto the last-available historical values of capital gains realizations (starting with the 2017 value and applying the growth rates from there) and revert to the capital gains realizations approach when CBO next publishes those values, presumably in January 2021.

Sep 28 '20 11:09 donboyd5