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Path: utzoo!watmath!clyde!burl!we13!ihnp4!inuxc!iuvax!notes
From: notes@iuvax.UUCP
Newsgroups: net.politics
Subject: Re: Flat Tax - (nf)
Message-ID: <392@iuvax.UUCP>
Date: Thu, 19-Apr-84 01:04:18 EST
Article-I.D.: iuvax.392
Posted: Thu Apr 19 01:04:18 1984
Date-Received: Fri, 20-Apr-84 01:35:19 EST
Sender: notes@iuvax.UUCP
Organization: Indiana University
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#R:burl:-43400:iuvax:2000031:000:1045
iuvax!unix68    Apr 18 19:18:00 1984

	Concerning real estate as a way to make money by losing money,
you are correct.  I worked for a real estate company in town and found
it rather disgusting that people would just by a house, depreciate it
for five years (accelerated depreciation -- God's gift to the rich),
and then sell it at a decent profit.  Of course, you have to rent it
out or lease it (to make it a business expense), but usually they've
managed to pull in some fair money from that too.
	I suspect most of the real estate law that makes all this
possible was written to prop-up a sagging housing industry.  However,
as far as I could tell from my small locality people didn't build all
that much, just buy-sell existing property.  There are a few people
a lot richer and a bunch of people here being gouged for rent.  I
would hate to guess what sort of money a slum-lord could make considering
that the people we delt with were at least providing some service.

--


					James Conley
					Indiana University
					68K Education Board Project
					...{isrnix|iuvax}!jec