The Capital-Gains Tax: A Tragedy in Two Acts
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(Corrects ninth paragraph because reference is to taxes ondividends, not interest.)
Dec. 20 (Bloomberg) -- Critics of the capital-gains tax areabsolutely correct when they say that a tax on capital hurts oureconomy by reducing the incentive to save and invest. They saythe same thing about the tax on investment interest, and they’reright about that, too.