Many local five-year plans project double-digit annual growth rates, even though the central government is aiming for a modest average of 7.5% until 2010.

ECONOMIST: The economy just grows and grows

Conversely, Sinai found that raising the U.S. top individual capital gains rate from the current 15 percent rate to 20 percent, as suggested in several deficit reduction plans, would cut annual economic growth by an average of .05 percent per year and job growth would decline throughout the economy by an average of 231, 000 from 2011-2016.

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