Deferring the tax on reinvested capital-gains distributions could help Americans grow richer. Here's the result of tax deferral on a hypothetical $10,000 mutual-fund investment that returns 10% a year:

HOLDING PERIOD TAX SAVINGS*

5 YEARS $74 10 YEARS 445 15 YEARS 1,403 20 YEARS 3,461

* Assumes entire investment is liquidated at end of period

Data: U.S. Congress Joint Economic Committee

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