Publisher's Synopsis
Excerpt from Tax Reform Proposals; Taxation of Capital Income: For the Use of the Committee on Ways and Means and the Committee on Finance; August 8, 1985
Taxable income from capital assets as measured under present law departs from the concept of economic income in a number of respects. Under present law, taxable income can be greater than economic income; often it is less. Thus, assets generating identical amounts of economic income may be liable for _widely varying amounts of tax.
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