>> And it is still surprising to me that presumably intelligent execs are clearly doing what Dew proposes. Taxes just make people irrational.
Well I once tried to explain this to a CFO and let's just say I didn't get very far. He just didn't seem to get it that paying taxes out of his own pocket was tantamount to investing more heavily in the company. The intuitive notion that one way he was paying ordinary income rates and the other way he was paying partly LTGC just seemed to trump everything else.
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