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Title:What's missing from the capital gains debate? Real estate and capital gains taxation PDF Logo
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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