But the Supreme Court declared the exaction to be unconstitutional, though only when applied to rental income and other revenues derived from property use (such as dividends).
While land has historically appreciated in many markets, the combination of the two generates long-run growth in property-derived income (NOI) that does not exceed inflation in most markets.
He suggests that political and military espionage can be dealt with at the diplomatic level, which I have long supported, and that economic espionage should be approached in ways analogous to and derived from current frameworks for the regulation and protection of intellectual property rights.
Alternatively, the proposal would tax certain intangible property related income on a current basis at a rate of 15%, whether derived directly by a U.S. corporation or by a foreign subsidiary.