This from a piece arguing (well, if you can call it that) for more hedge fund regulations:
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Of course, the best argument for repealing this break is that it distorts the economy — in this case, by encouraging people to become fund managers rather than, say, entrepreneurs.
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Yeah. It'd be much easier if the gov't just set a quota at the correct # of fund managers and entrepreneurs.
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quite apart from distributional justice, the break on capital gains interferes with the free market by encouraging investments that people might not otherwise undertake
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Hear that one? Taxes are too LOW for the free market to work properly! We have got it all wrong!
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