| The New Dictionary of Cultural Literacy, Third Edition. 2002. |
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| capital gain |
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| Personal income earned by the sale of assets, such as stocks or real property. The gain is the difference between the price paid for the asset and the selling price. Most conservatives want capital gains taxed at a lower rate than ordinary income in order to stimulate investment, whereas most liberals oppose a lower rate for capital gains as a subsidy for the wealthy. | 1 |
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| | | The New Dictionary of Cultural Literacy, Third Edition. Edited by E.D. Hirsch, Jr., Joseph F. Kett, and James Trefil. Copyright © 2002 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. |
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