My friend Michael Toth, director of research at the Civitas Institute, could perhaps be persuaded that he's incorrect about capital gains taxes. While he’s correct that the long-term tax on capital gains should be zero, he overstates the growth implications.
Much greater growth would come from zeroing out taxes on short-term capital gains. To see why, just consider what is accepted wisdom among economists, politicians, pundits, and supposedly even scientists: the power of compound returns is profound. Which is the point.
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