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Analysis reveals that capital gains taxation supports timber supply in the South, suggesting optimal resource management.
In the South, capital gains treatment of income from the sale of timber has encouraged better stewardship of forest resources. Charges that this treatment has created undue concentration of forest ownership, abnormal profits for large firms, tax-induced slow turnover of capital and inflated timber prices are unfounded. Favorable tax treatment of timber sales has played a significant role in insuring an increasing supply of timber and timber products at an economical price.
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Fortson et al. (1974) studied this question.
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