Controversy Over Capital Gains Tax
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The vote to cut the capital gains tax is one more indication that the prevailing mood of the country continues to be one of greed and self-interest. Pious political protestations to the contrary, substantial economic thought says that not too many new jobs will be created. The net result will be reduced taxes for the extremely wealthy which they will promptly spend on luxuries, all the while expressing dismay at the increasing crime and violence in society.
And to the leadership of Coca-Cola which just sold Columbia to Sony, this will rank along with New Coke as their contribution to the American success story.
DON RYERSON
San Pedro
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