Line of the Day: WSJ on Why Supply-Side Econ Works
In a subscription-only editorial smackdown of Virginia Senator James Webb:
Class warriors like Mr. Webb often forget that the capital gains tax is voluntary. Investors can defer paying the tax for years by holding on to their stock. This creates what is called the “lock-in effect” that deters an efficient allocation of investment capital.
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- Jan. 13, 2006 — Voodoo Schmoodoo
