Tax Bill Could Impact Developing Communities | WBEZ
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Eight Forty-Eight

Tax Bill Could Impact Developing Communities

Never has the saying, the rich get richer and the poor get poorer been truer than in this economy. Rock bottom prices on stocks and real estate are luring those with extra cash in their pockets. But although many have derived their main income from handling these investments, they have paid a capital gains tax on that income rather than the top income tax rate. But that might soon change. Congress is considering taxing some profits from long-term investments as ordinary income. That, of course, has many investors crying foul, some saying it'll end up hurting blighted urban areas the most. Chicago magazine real estate reporter Dennis Rodkin has been following the bill and he tells us more.

Music Button:  John Patitucci Trio, "Messaien's Gumbo", from the CD Remembrance, (Concord)

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