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...whenever he or she thought the new one would be more profitable. In the real world, people hold on to investments they would otherwise trade in order to avoid paying the tax. That makes the economy less efficient. A tax break for capital gains would reduce this so-called lock-in effect. (Although, please note, this is exactly the opposite of one argument usually heard for a capital-gains break -- that we need to encourage long-term investment.) What would reduce the lock-in effect even more, however -- without adding to the favorable treatment capital gains already enjoy -- would...

Author: /time Magazine | Title: Essay: A Capitalist's Guide to Capital Gains | 11/6/1989 | See Source »

...favorite word, prudent. After all, what if Gorbachev is indeed merely pursuing by more subtle means the old Soviet goals of getting the U.S. to withdraw from Europe, dissolving NATO and neutralizing Germany? Even so, as Baker points out, it would still make sense for the U.S. to "lock in" gains by helping Soviet bloc nations become more independent and by securing agreements that make mutually beneficial arms reductions. In addition, the changes in Eastern Europe have progressed so far that a sudden reversal becomes less likely every day. In the worst-case scenario, a hard-liner -- even Gorbachev -- could...

Author: /time Magazine | Title: Yes, He's For Real Mikhail Gorbachev | 11/6/1989 | See Source »

Harvard also needs to make students aware of the escort service's existence. Council members have argued that many students are "embarrassed" to use the service, but it is equally likely that people just don't know about it. The University puts up signs telling students to lock their doors. It could just as easily post more notices urging them not to walk home alone. Phone numbers for police and University Health Services are listed on the back of ID cards--why not the number for the escort service...

Author: NO WRITER ATTRIBUTED | Title: How High a Priority? | 10/31/1989 | See Source »

Northeastern (3-0-1 Metro League) recorded two trys at the end of the first half, and added a penalty kick just after halftime to give it a 13-0 edge. To add to Harvard's problems, lock Will Rava was ejected for a high tackle early in the second half, leaving the Crimson (3-1 Metro, 5-3 overall) a player short on the field...

Author: NO WRITER ATTRIBUTED | Title: Huskies Humble Ruggers; Aquamen Place Fifth | 10/16/1989 | See Source »

This frightening episode, and two reported incidents of sexual molestation of freshman women, led to increased demands from students and staff members for better security measures around the University. Yet the adminstration only replaced the student guards at the Science Center with armed, professional ones. Harvard refused to lock three of the building's four doors after business hours or limit access to the upper floors before 5 p.m. because such measures would be inconvenient for some faculty members. The administration also refused to increase the number of street lights in the Yard, even after six assaults of students near...

Author: NO WRITER ATTRIBUTED | Title: Intolerance of Opinions | 9/15/1989 | See Source »

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