I would tell them that, first of all, the timing is bad. When you have almost two or three years—we're getting into my view now—of negative real per capita GDP growth, I think that's a very serious issue. The timing is poor in terms of doing it.
I think there were changes required, but I would have done that through a more general tax reform. I think a number of complex issues are involved with capital gains taxation, such as inflation and the locked-in effect, and you can go on with a number of things. There's also the balance between dividend taxation and capital gains taxation. That's why it needs a general approach and not one that's very specific.
