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Wealth and Want | |||||||
... because democracy alone is not enough to produce widely shared prosperity. | |||||||
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Flipping
Michael Hudson and Kris Feder: Real Estate and the Capital Gains Debate
Most capital gains reaped by business partnerships accrue to real
estate firms, which shelter personal income by avoiding incorporation.
IRS statistics ranking capital gains in terms of how long the assets
were held show that many of these gains represent quick “flips." Often
these are land that has been rezoned from a low-value to a high-value
use. Retaining the capital gains tax would have little effect on
deterring such speculation. Read the whole article
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Wealth
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... because democracy
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prosper
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