Monday, April 02, 2007

New York Times Fail English? That's Umpossible

This New York Times editorial caught my eye this morning. In particular, this bit at the end of the editorial:

Today’s preferential rate for capital gains is excessive, with no mechanism in the tax code to ensure that it is not overused. Excessively favoring one form of income over another encourages wasteful gamesmanship, creates inequity and crowds out other ways to foster risk-taking.

That's right, the 15% tax rate for capital gains is excessive because it is too low. Thanks New York Times, for such eloquent use of the English language.


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