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OPINION

Are capital gains tax supporters confusing their proposal with a financial transaction tax?

 

February 25, 2021



I’m at a total loss. How can very smart lawmakers look at a letter from the IRS unequivocally calling a capital gains tax an income tax, see that every state revenue director in the country describes a capital gains tax as an income tax, realize that the nine states without a personal income tax don’t tax capital gains, and yet continue to insist a capital gains tax is an excise tax? Perhap...



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