Trump Victory in the Republican Primary Message Board

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Politics : Trump Victory in the Republican Primary

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Oct 31 9:30 AM EDT

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From: Wharf Rat	9/1/2016 5:10:00 PM
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If Trump Gets His Way, Real Estate Will Get Even More Tax Breaks By JAMES B. STEWART SEPT. 1, 2016 nytimes.com It’s hard to imagine a tax code more favorable to real estate developers than the one we already have. Donald Trump has come up with one. Thanks to some major loopholes in the existing tax code that treat real estate developers as a special privileged class, it’s entirely possible (even likely) that Mr. Trump pays little or no federal income tax. But Mr. Trump’s new tax proposal doesn’t just preserve those breaks, it piles on new ones for real estate developers like Mr. Trump himself — at an estimated cost of more than $1 trillion in tax revenue over a decade. Moreover, this doesn’t count Mr. Trump’s more general tax cuts, which deliver the biggest windfalls to the highest earners. Many real estate developers would reap further gains from those provisions if they became law. Even conservative Republican tax experts have denounced the specific real estate measures Mr. Trump has outlined. “If you want to create a recipe for an abusive tax shelter, take those elements and bake for 15 minutes,” said Douglas Holtz-Eakin, an economist who served as director of the Congressional Budget Office and is now president of the American Action Forum, a conservative pro-growth advocacy group. He was also an economic policy adviser to former Republican presidential candidate John McCain. “It’s a phenomenal benefit for housing and commercial real estate interests.” continues at the link

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