1000SC48

48. 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

Answer(Select the text): A