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These include lower business rates, the ability to reclaim income tax on donations and exemption from capital-gains and inheritance taxes.
ECONOMIST: For those who pay, higher fees are on the way
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Details are sketchy, but the idea is to tax these nonresidents on their income from stocks, bonds, capital gains and dividends if they spend at least 60 days in Minnesota a year.
WSJ: Review & Outlook: Minnesota's Snowbird Tax
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Something very similar happened as a result of the Reagan tax reductions and again from the tax-rate reductions enacted two years ago on capital gains, dividends and personal income.
FORBES: The U.S. Income Tax: Start Over!
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He and many other high-income taxpayers benefit greatly from the low tax rates on capital gains and dividends.
FORBES: Why Investors Pay Lower Taxes Than The Rest Of Us
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Owner-occupiers typically pay no tax on capital gains and can deduct mortgage interest from their income-tax bills.
ECONOMIST: Labour mobility
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Shortly after Mr. Obama's inauguration, he and some congressional Democrats were pushing a plan to block managers of hedge funds and private-equity funds from paying a low 15% capital-gains tax rate on part of their income.
WSJ: Financiers Switch to GOP
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That means that capital gains tax rates would rise to 20% (from 15%) on high income taxpayers.
FORBES: Did The Debates Offer Enough 'Hope and Change' for the Obama/Biden Ticket?
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Warren Buffett, in a New York Times op-ed, renewed his call for a minimum income tax of 30% on the wealthy to block them from taking advantage of concessional tax rates for dividends and capital gains, or seeking other tax shelters.
FORBES: With His Tax Proposals, Warren Buffett Flunks Economics 101
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It also wants an expanded Earned Income Tax Credit, an expanded saver's credit and a permanent exclusion from capital gains taxes on small business investment. (Does anyone think green energy tax credits will vanish anytime soon?) One ghost that keeps returning: the research credit, first introduced in 1981, which allows companies to write off a portion of their research and development expenses.
FORBES: Magazine Article
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The capital accumulation that is necessary for innovation and economic progress depends on savings from after-tax income.
FORBES: When Capital Trickles Away, Not Down
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Carried interest is treated as a capital gain on investment rather than as income from employment, and so attracts more lenient tax treatment than the latter.
ECONOMIST: Private equity in the spotlight