According to some analysts, whatever its merits, the proposal to tax away all capital gains on short-term investments would, if enacted, have a disastrous effect on Wall Street trading and employment. (A) its merits, the proposal to tax (B) its merits may be, the proposal of taxing (C) its merits as a proposal, taxing (D) the proposal’s merits, to tax (E) the proposal’s merits are, taxing