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Real Estate Investment Trusts (REITs) are important financial actors that control over $3.5 trillion in gross assets and over 500,000 properties in the U.S. Yet they have been largely ignored because tax rules define them as ‘passive investors.’ They exist as tax “pass through” entities and pay no corporate taxes if they invest at least 75 percent of their assets in real estate, derive 75 percent of their gross income from real property, and pay out at least 90 percent of taxable income (excluding capital gains) as shareholder dividends each year.
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As in a Greek tragedy whose protagonist brings about precisely the fate that he has sought to avoid, the US/NATO confrontation with Russia in Ukraine is achieving just the opposite of America’s aim of preventing China, Russia and their allies from acting independently of U.S. control over their trade and investment policy. Naming China as Continue Reading
The post American Diplomacy as a Tragic Drama first appeared on Michael Hudson.In 1973, soon after the US Supreme Court established a right to abortion in Roe v. Wade, Charles E. Rice concluded that “the essential remedy to the abortion problem is a constitutional amendment.” Rice is an important figure in the intellectual history of the antiabortion movement that is now, with the recent overturning of Roe, […]
The post The Irish Lesson appeared first on The New York Review of Books.
INET grantee Vamsi Vakulabharanam describes his work to gather parallel social threads—such as class, caste, gender and religion—to better understand the mechanisms of inequality in India, and why this can lead to better outcomes around the world.
A group of women is building a network and encouraging women in STEAM (science, technology, engineering, arts and mathematics) at the St. Louis Fed.
In 2007 the Australian Labor Party, under Kevin Rudd, inflicted a painful defeat on the COALition. From 60 MPs the ALP had before the federal election, their Lower House representation swelled to 83 (more than enough to pass legislation). And 22 of those new MPs were replacing defeated COALition MPs, whose House contingent was reduced to 65.
To make things worse for the COALition, even John Howard, until then PM, lost his safe seat of Bennelong and “moderate” Malcolm Turnbull, who soon was chosen federal Opposition Leader, was facing an extreme Right insurgency, led by Tony Abbott and Nick Minchin.
In the Senate, things were only slightly less favourable for Rudd, the new Labor PM:
As always, if you find value in this work I do, please consider helping me keep it sustainable by joining my weekly newsletter, Sparky’s List! You can get it in your inbox or read it on Patreon, the content is the same.