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In addition, Parliament is expected to pass a law levying a tax on 100% of profits from properties sold within one year of purchase, on two-thirds of the gain in the second year and on one-third in the third year.
CNN: How the government is cracking down on speculators
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The increase for a coming year is based on inflation between the third quarter of the prior year and the third quarter of the current year, as measured by the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W. In the third quarter of 2008 energy prices and the CPI-W spiked, giving beneficiaries a hefty 5.8 % COLA for 2009.
FORBES: Social Security: No COLA, No Payroll Tax Increase In 2011
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Sports, Pistons coach Lawrence Frank reportedly told team owner Tom Gores and general manager Joe Dumars that he wasn't interested in leading the team for a third year if the fourth year on his contract was not picked up.
WSJ: Lopez, Blatche help Nets hold off Pistons, 103-99