Excerpt from Capital Gains Taxation The tax advantage now being obtained by speculators can be eliminated by revising the capital gains tax provisions so that $1 of capital loss would offset only $1 of capital gain. In effect, short - term capital loss would first be offset against long-term capital gain dollar for dollar; any remaining excess of long-term capital gain would then receive the advantages of percentage inclusion and alternative rate. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.