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Capital Gains and the Future of Free Enterprise

So called “capital gains” are actually unearned income, economic rent. Expanding tax favors for capital gains worsens inequality and impairs . . . → Read More: Capital Gains and the Future of Free Enterprise

The Partiality of Indexing Capital Gains

In 1986, Congress made realized capital gains fully taxable, in the spirit of uniformity animating the 1986 reform. Now we are witnessing a major effort to revive the exclusion of part or all of capital gains from taxable income, partly on the grounds that much of the gains are “phantom” income, an illusion of . . . → Read More: The Partiality of Indexing Capital Gains