A CAPITAL GAINS PRIMER.

Discusses the efforts of the U.S. government to introduce capital gains tax reductions. Success of the 1986 tax reform, which eliminated the special break for capital gains in exchange for lower tax rates on all income; Benefits gained by the well-to-do from capital gains breaks; Background on the concept of tax neutrality; Argument pertaining to the deflationary impact of capital gains cut; Analysis that capital gains tax cut won't cost anything, it will actually bring in more revenue; Discussion that capital gains tax cut will raise stock prices and real estate values.