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The Folly of Cutting Dividend Taxes

Posted Friday, Jan. 3, 2003, at 4:40 PM ET

President Bush's new economic plan, which he'll announce officially Tuesday, proposes to halve the tax on dividends. The dividend tax cut, say supporters, will boost the economy and encourage Wall Street because it will prompt investors to buy stock in dividend-paying companies. But way back in August, when Republicans first began pushing the dividend tax break, Dan Gross explained why it would be folly.

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