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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Elroy Jetson who wrote (50048)5/15/2004 7:09:47 PM
From: Peter Joseph  Read Replies (1) of 74559
 
Re: Flat tax

Re: As mortgage interest is not tax-deductible under this proposal,

If it indeed comes to pass <g>, it is estimated that the housing markets could deflate 33% overnight.

Re: With a net worth of $1.4 billion he'd love a tax reduction paid for by others.

Note, wealth (net worth) is not taxed in the USA. Except that estate taxes are still in flux.

Elsewhere in the world there is a smorgasbord of taxes, including wealth tax & VAT (similar to sales tax in the USA?).
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