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| Title: | | What's missing from the capital gains debate? Real estate and capital gains taxation  |
| Authors: | | Hudson, Michael Feder, Kris |
| Issue Date: | | 1997 |
| Series/Report no.: | | Public policy brief // Jerome Levy Economics Institute of Bard College 32 |
| Abstract: | | The recent enactment of a capital gains tax cut resulted, according to the authors, from the absence of a true appreciation or consideration of the real beneficiaries of such a cut, its probable actual effects, the distinction between productive and nonproductive sources of capital gains (two-thirds of capital gains accrue to real estate, which is a fixed, nonproductive asset), and distortions in our current income accounting system (which shield most real estate income from taxation). The across-the-board cut, which treats real estate appreciation and true capital gains as the same, is a giveaway to real estate and will steer capital and entrepreneurial resources to a search for unearned income. |
| ISBN: | | 0941276406 |
| Document Type: | | Research Report |
| Appears in Collections: | | Public Policy Briefs, Levy Economics Institute of Bard College
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