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The fewer types of investment that are tax sheltered (i.e., where income is taxed at lower-than-normal rates), the smaller are the supply-side effects of an
The fewer types of investment that are tax sheltered (i.e., where income is taxed at lower-than-normal rates), the smaller are the supply-side effects of an increase in tax rates (that is, the decrease in output is smallerdue to a tax increase)
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