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A good secondment brings real long-term gains.
Say your portfolio includes stocks with sizable long-term gains.
The tax on long-term gains was also cut, to 15percentt from 20percentt.
It feels unnatural in our lustrous, capitalist world to have to persevere for long-term gains.
Or is it better to persevere and hope for long-term gains?
"Sometimes you make short-term sacrifices for long-term gains," Harrington said.
"It simplifies the tax system, which will bring long-term gains to our economy," he added.
Still, the bank's top executives are optimistic about earning long-term gains from the acquisitions.
"It could be a short-term investment for long-term gains".
Mr. Gale said he would just lump all long-term gains and tax a percentage of them.
The long-term gains are even more impressive because Merrill's stock has risen almost 30-fold in the last decade.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com