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April 26, 2021
Proposed Capital-gains Tax Hike Revives Long-running Debate
President Biden's focus on capital-gains taxes has highlighted concerns about the role of taxation in economic growth. “A rate increase this large would be expected to slow long-term growth. It’s not going to slow it by a substantial amount but I don’t think it’s insignificant,” said public finance fellow John Diamond. “I don’t think it’s a story of just hey, we’re taxing the rich and no one else gets hurt by this.” Diamond is the Edward A. and Hermena Hancock Kelly Fellow in Public Finance.
Read more at the Wall Street Journal.