No industry is treated more favorably
by the federal tax code than real estate. Developers can write off the
depreciation of their buildings on very favorable schedules, even while
their properties are increasing in value.
One of the major benefiters of this policy and one of its major proponents in the early 1990s, was Donald Trump. It's still how he makes most of his money.
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Scott Baker is a Managing Editor & The Economics Editor at Opednews, and a former blogger for Huffington Post, Daily Kos, and Global Economic Intersection.
His anthology of updated Opednews articles "America is Not Broke" was published by Tayen Lane Publishing (March, 2015) and may be found here:
Scott is a former and current President of Common Ground-NY (http://commongroundnyc.org/), a Geoist/Georgist activist group. He has written dozens of (more...)