CAPITAL GAINS AND GAMES

INVESTORS WILL GET A TAX BREAK, BUT IT'S THE WRONG ONE

Simple is often best. But as people who do their own form 1040s can attest, that isn't exactly a guiding principle of the U.S. tax code. So it's a bad joke that the current debate over tax relief for investors centers on a cut in the capital-gains tax, the 28% levy that you pay on stocks, bonds and other assets held more than a year and sold at a profit. The bad part is that while it would be relatively easy to install--Poof! Your tax rate is lower--what the Federal Government really needs to do is figure out a more complex...

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