Word: takeing
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Dates: during 1980-1989
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True? The answer to that is another question: Do you believe in free-market capitalism? Do you think the best recipe for prosperity is minimum Government interference in the economy? Devotees of the capital-gains break usually claim to be enthusiastic free-marketeers. Let us take them at their word. Does the capital-gains break make sense from a free-market point of view...
...other factor makes capital gains different from other forms of income: you can generally choose when to take them. In a world with no taxes, an investor would trade one investment for another 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...
...poor have a built-in defense against runaway crack abuse: they run out of money. The rich have the same limit; it just takes longer to get there. Stories abound of well-heeled users smoking their way through trust funds, savings accounts and charge-card credit lines. Some take out second mortgages and go on to sell jewelry and household items like TVs, VCRs and answering machines...
...piece of sculpture without touching it," she emphasizes. "When I taught a class at Phillips Exeter, I told my students to close < their eyes and feel an object, feel its proportion. Then I would take it away and make them draw it. If you create something unusual, people will take the next step...
...last silly question: Now that Habits is such a success, how long will it take Poretz and Sinrod to come out with Habits II and Habits...