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The tax on capital gains directly affects investment decisions the mobility and flow of risk capital... the ease or difficulty experienced by new ventures in obtaining capital and thereby the strength and potential for growth in the economy.

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When I seemed to be irritable or sad my father would quote the learned Dr. Knight and then say 'Just go to sleep.' Like all smart aleck kids I thought the advice was silly. But as I've grown older I've realized just how smart Knight was.

In fact I am quite snappy and irritable and I don't know if I'd like to make myself worse in that respect.