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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 and Want
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... because democracy alone hasn't yet led to a society
in which all can prosper
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