Only the Rich Can Play
How Washington Works in the New Gilded Age
by:
David Wessel
in:
Political Theory
Summary:
The book delves into the creation and impact of Opportunity Zones, a tax incentive aimed at encouraging investment in distressed American neighborhoods. It examines the policy's implementation, its beneficiaries, and the question of whether it truly serves the impoverished communities it was designed to help or primarily enriches wealthy investors.
Key points:
1. Opportunity Zones and Tax Breaks: The book discusses how the 2017 Tax Cuts and Jobs Act's Opportunity Zones aimed to help poor areas but often benefited the rich instead, who used tax breaks for investments.
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