Bite of Capital Gains Taxes Can Be Eased, as Greenspan Foresaw, by Adjusting for Inflation
Why, asked ‘the Maestro,’ should anyone have to pay taxes on fake appreciation driven by a declining currency rather than a real gain?
When the former Federal Reserve chairman, Alan Greenspan, died at 100, the tributes to him were amazing. He had been appointed on a bipartisan basis by four presidents — Ronald Reagan, George H.W. Bush, Bill Clinton, and George W. Bush.
Greenspan’s domination of economic dialogue — and his capable 19-year chairmanship of the Federal Reserve between 1987 and 2006 — made him a giant towering over the economic debate about America’s future.
Various articles resurrected the title which Greenspan had acquired during the amazing prosperity of the 1990s. Then, he was “the Maestro.” During his chairmanship, America had low inflation and dramatic economic growth, including rising personal incomes and dramatically growing pension funds and personal savings.
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