Hazel Blears Blears had been claiming MPs' second home expenses relating to the flat. She had made a £45,000 profit on its sale without paying capital gains tax. On 12 May she volunteered to pay the £13,332 capital gains tax she had avoided on the sale of her second home. It was subsequently claimed that Gordon Brown had ordered her to repay the sum. In Salford she was met by a number of angry protesters and stayed in a local hotel rather than at home. Following an investigation by Sir Thomas Legg, Blears was told to repay £225 in expenses in relation
Capital gains tax in the United States second tax on that income when the stock is sold." Richard Epstein says that the capital-gains tax "slows down the shift in wealth from less to more productive uses" by imposing a cost on the decision to shift assets. He favors repeal or a rollover provision to defer the tax on gains that are reinvested. The fact that the long-term capital gains rate is lower than the rate on ordinary income is regarded by the political left, such as Sen. Bernie Sanders, as a "tax break" that excuses investors from paying their "fair share." The tax benefit for a long-term