An analysis of the short-term outlook of many U.S. corporations arguing for steeply graduating the capital gains tax according to the length of time an asset is held, changing the tax code to provide equal treatment of debt and equity, and encouraging “relational investing” to involve large institutional shareholders in overseeing the performance of the companies in which they hold stock.
The report includes a background paper “Who’s Minding the Store?” by Nobel laureate Robert J. Shiller, examining the economic basis of financial speculation and the intrinsic worth of measures proposed to rein in speculators or to limit the damage caused when their activity gets out of hand.
