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View Diary: The oft-repeated lie about the capital gains tx preference (74 comments)

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  •  I should add... (1+ / 0-)
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    ManhattanMan

    ..that the conservative argument for reducing taxes on capital gains is that if one is investing money that has had taxes paid on it, then the investment income from it is also permanently reduced since the principal is reduced. In that sense the gains have "already been taxed".

    I do not agree that investment income should not be taxed, but it is important to understand the argument.

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