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Why does the tax law provide preferential rates on certain capital gains?Describe three basic tax planning strategies available to taxpayers investing in capital assets.Initial/Original PostPlease post what you view as the appropriate responses to the above prompts. Your initial post should be 250-300 words. Please provide response with a clear, well-formulated thesis; sentence structure, grammar, punctuation, and spelling count. Support ALL posts with appropriate rationale and citations from readings; document sources using APA format.