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Taxes


Washington Outlook: CAPITAL WRAPUP

TAXES

The Senate's rejection of a proposed cut in Social Security payroll taxes could kill off the last hopes for the Administration's capital-gains tax reduction this year. Supporters of the gains cut had hoped to push their plan through in tandem with payroll-tax relief for the middle class. On its own, however, the capital-gains measure can't overcome the political stigma of being a giveaway to "the rich."EDITED BY STEPHEN H. WILDSTROM


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