In this working paper, the author examines the economic effects of enacting a proposal by the Biden administration to tax long term capital gains at ordinary income tax rates for those with taxable income above $1 million and tax unrealized gains at the time of death for single (joint) filers with more than $1 million ($2 million) in unrealized gains.
A similar version of the report was prepared with the financial support of the Center for Freedom and Prosperity Foundation.
Despite its massive geological endowment and receiving what could be considered the largest windfall in its economic history, Venezuela entered 2020 in the middle of an unprecedented economic crisis. The Covid-19 pandemic and turbulence in oil markets represent the latest in a string of problems that expose the country’s vulnerability.
Venezuela, which has one of the largest hydrocarbon endowments in the world, offers a striking case study on the resource curse, write Francisco Monaldi, Igor Hernández and José La Rosa.
This working paper is part of a series titled “The Role of Foreign Direct Investment in Resource-Rich Regions.”
Francisco J. Monaldi, José La Rosa ReyesFebruary 24, 2020