LEADER 00000nam  2200397 i 4500 
001    sky304262653 
003    SKY 
005    20211201102231.0 
008    210617s2021    nyu      b    001|0|eng d 
010    2021005455 
015    GBC1C5954|2bnb 
016 7  020281066|2Uk 
020    9781541757196|q(hardcover) 
020    154175719X|q(hardcover) 
040    StDuBDS|beng|erda|cStDuBDS|dSKYRV|dUtOrBLW 
043    n-us--- 
092    338.87|bWES 
100 1  Wessel, David,|eauthor. 
245 10 Only the rich can play :|bhow Washington works in the new 
       gilded age /|cDavid Wessel. 
250    First edition 
264  1 New York :|bPublicAffairs,|c2021. 
300    vii, 337 pages ;|c24 cm 
336    text|2rdacontent 
337    unmediated|2rdamedia 
338    volume|2rdacarrier 
504    Includes bibliographical references and index. 
520    "David Wessel's incredible tale of how Washington works-
       and why the rich keep getting richer-starts when a Silicon
       Valley entrepreneur concocts an idea that will save money 
       on his taxes and spins it as a way to ostensibly help poor
       people. He organizes and pays for an effective lobbying 
       effort that pushes his idea into law with little scrutiny 
       or fine-tuning by congressional or Treasury tax experts-
       and few safeguards against abuse. With an unbeatable pair 
       of high-profile sponsors, bumper-sticker simplicity and 
       deft political marketing, the Opportunity Zone became an 
       unnoticed part of the 2017 Trump tax bill. The gold rush 
       followed immediately thereafter. In Only the Rich Can Play,
       Wessel follows the money to see who profited from this 
       plan that was supposed to spur development of blighted 
       areas and help people out of poverty: the Mandalay Bay 
       Hotel in Las Vegas, the Portland (Oregon) Ritz-Carlton, 
       the Mall of America, and self-storage facilities-lucrative
       areas where the one percent can park money profitably and 
       avoid capital gains taxes. And the best part: unlike other
       provisions for eliminating capital gains taxes 
       (inheritance, for example) you don't have to die to take 
       advantage of this one. Wessel provides vivid portraits of 
       the proselytizers, political influencers, motivational 
       speakers, consultants, real estate dealmakers, and 
       individual money-seekers looking to take advantage of this
       twenty-first century bonanza. He looks at places for which
       Opportunity Zones were supposedly designed (Baltimore, for
       example) and how little money they've drawn. And he finds 
       a couple of places (Erie, PA) where zones are actually 
       doing what they were supposed to, a lesson on how a better
       designed program might have helped more left-behind 
       places. Readers will feel outraged as Wessel gives us the 
       gritty reality, the dark underbelly of a system tilted in 
       favor of the few, with the many left out in the cold"--
       |cProvided by publisher. 
600 10 Parker, Sean,|d1979- 
610 10 United States.|tTax Cuts and Jobs Act. 
650  0 Enterprise zones|zUnited States. 
650  0 Business enterprises|xTaxation|xLaw and legislation
       |zUnited States. 
650  0 Rich people|xTaxation|zUnited States. 
650  0 Tax havens|zUnited States. 
650  0 Economic development|xCorrupt practices|zUnited States.