Look for a Cut in Capital-Gains Tax in '97

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Regardless of who wins the elections next month, some sort of a cut in the capital-gains tax rate is almost certain to be enacted next year.

It's inevitable. Washington has finally come around on this issue, on both sides of the aisle.

And, despite the naysayers who don't like or believe supply-side economic theory, a capital-gains tax cut is going to be a big boon to state and U.S. Treasury coffers alike.

Human beings respond to powerful, common-sense incentives, and a significant cut in the capital-gains tax rate is an unprecedented incentive to cash in locked-up investments.

Now, whether the new "windfall" revenue translates into a lower federal deficit or not will depend on who's spending the money. But there will be a windfall, …