I agree on one, not certain about rest
I agree, Internet trading (and the constant media hyping of the stock market) was a major factor in the volatility and growth.
I cant tell from the graph if there is cause and effect.
I'll stick with "But the relationship of realizations and receipts to gains tax rates is neither predictable nor obvious. "
Was that really a tax hike in Bush the First's reign and a reduction in Clinton's?
If I read that right, then the knowledge that the rate was going to go up in 87 led to a massive "realization" in 86.
By any chance, did the stock market tank in 86?
cheers, and thanks,
Tony