Donald W. Kiefer comments on an article about capital gains tax rates by Coyne, Fabozzi, and Yaari. Mr. Kiefer attempts to correct several erroneous impressions the readers may have received.

Presents an overview of a simple model of the lock-in effect of the capital gains tax on trading corporate stock. The results of simulations of several policy changes are reported: The policies include a fifteen percent flat capital gains tax rate, President Bush's 1989 capital gains tax cut...

This article reexamines the measures of tax progressivity in the fifty states derived Abstract by Greene and Balkan (1987) and finds them to be substantially in error. Recalcu lated progressivity indexes provided in this article exhibit far less deviation than the indexes published by Greene and...