Presumably the present value of cost recovery deductions net of future recapture is embedded in the fair market value of buildings.
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One topic that should, but probably won't, come up often is how any of the candidates proposes to deal with the most pressing issue California faces, the gaping hole in its budget that threatens its social safety net and its economic recovery.
"These people aren't going to start spending again until they see a substantial recovery of their net worth, " says Kurtz.
But a recovery built on net exports will lack the feel-good factor.
But with continuing strong global growth the IMF revised up its estimate for 2011 this week there are good reasons to expect net trade to bolster the recovery this year.
The rise in net orders was due to a steady recovery in the housing market.
If all goes well, a sustained recovery can be driven by net trade and business investment.
The economy's recovery will depend crucially on net trade, spurred by the big drop in sterling over the past two years, which will give an edge to domestic producers both in export markets and at home.
Since that recovery will depend above all on net trade rather than consumption, it will be a cheerless one by recent standards.
ECONOMIST: There are promising signs that the economy is improving
The point is, put what is necessary in money into the social safety net for those losing out in the recession until recovery is achieved.
FORBES: Let's Finance Supply-Side Tax Cuts With Laffer Shares
"New studies indicate this is a global problem, " says Kimberly Young, a clinical psychologist who wrote the first book on the subject of Internet addiction, "Caught in the Net, " and founded the Center for Internet Addiction Recovery in Bradford, Pennsylvania.
The U.S. economy generated scarcely 69, 000 net new jobs in May, dashing hopes for a sustained recovery from the Great Recession and presaging yet another summer of economic doldrums.
Net earnings were propelled by top-line growth with a steady recovery in the U.S. housing market driving consumer appetite for home improvement products.
FORBES: Home Depot Outpaces Lowe's As Housing Recovery Boosts Sales
But those who run our biggest banks tell me that the FLS will never on its own either lead banks to increase their net lending to the real economy or in a significant way contribute to economic recovery.
But, far from supporting the recovery, our export sector actually pulled it down in 2012, with net exports subtracting about 0.8 percentage points from the annual rate of growth.
Thompson Financial Datastream expects Bulgari to have a slight recovery in the second half, with whole-year revenue rising 1% and net declining by the same percentage.
That the party's recent recovery began with a promise to lift millions of households out of the inheritance-tax net may embolden them to start asking for more of the same.
ECONOMIST: The Conservatives are doing well, but not well enough
Thomson Financial Datastream expects a slight recovery in the second half with revenue rising 1% for the year as a whole and net declining by the same proportion.
But Australia's economic recovery has coincided with an ill-timed tightening of immigration policy: it admitted 36% fewer net newcomers in the year to September 2010 compared with the previous year.
America's net indebtedness is a perfectly affordable 65% of GDP, and throughout the past three years of recession and tepid recovery investors have been more than happy to go on lending to the federal government.
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