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Unformatted text preview: there return on an investment made. When it is more akin a commission on top of a base salary, like a car salesman might be paid. The second issue he raises is the difference in tax rates, between the marginal income and the capital gains. To be truly fair and to eliminate distortions, the capital gains should also be levied on unrecognized gains. It is amazing that the only people who are advocating equalizing capital gain tax rate with ordinary income tax rate are American democrats like this Blinder fellow...
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This note was uploaded on 03/02/2010 for the course ECON 110 taught by Professor Vernon during the Summer '07 term at BYU.
- Summer '07