17 Dec
2003
17 Dec
'03
6:17 p.m.
When you consider that capital gains tax rate schedules are not indexed for inflation, the situation's even worse than Tim's analysis implies. Since you pay tax on the nominal rather than the real capital gain, the effective capital gains tax rate is really higher than the quoted rate. ---------------------------------------------------------------------- Greg Hopper |Disclaimer: The opinions expressed are Research Department |my own and not necessarily those of Federal Reserve Bank |the Federal Reserve Bank of Philadelphia of Philadelphia |or the Federal Reserve System. 10 Independence Mall | Philadelphia, PA 19106 | (215) 574-3905 (voice) | (215) 574-4364 (fax) | email: ghopper@frbphil.org |