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Back when 'Clinton lowered' capital gains the government economists had a pretty good idea how much more tax revenue it would generate, so yes, the rate matters. It's also known that money flows from high tax rate areas to low ones. I find the argument that rates don't matter to be an interesting one.
Pete
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“How many legs does a dog have if you call the tail a leg? Four. Calling a tail a leg doesn't make it a leg.”
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