Michael Hudson Quotes:
Ocupation: Professor
Life: b. 1939
In real estate you can avoid ever having to pay a capital gains tax, decade after decade, century after century. When you sell a property and make a capital gain, you simply turn around and buy a new property. The gain is not taxed. It's called "preserving your capital investment" - which goes up and up in value with each transaction.
source: Source: www.counterpunch.org
topic: Real, Pay, Gains, Capital Gains, Capital Gains Tax, Capital Investment
