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Technology Stocks : Intel Corporation (INTC)
INTC 40.78+0.7%3:59 PM EST
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To: Amy J who wrote (168103)7/13/2002 6:10:34 PM
From: Jim McMannis  Read Replies (1) of 186894
 
RE:At some point, the gov't is going to wake up and realize that some of those gains should be taxed. The economy gets imbalanced when real estate gains aren't taxed but stock gains are."

Yeah, I've floggin' that horse here for years.

OTOH, you are missing one of the set rules of government.

Once you give to the masses you got "h$ll" takin' it back.

So for now. Real Estate rides high and the rest of the economy suffers. Take away tax breaks on RE and what do you think happens to the rest of the economy, at least in the short intermediate term?
WHen I hear things like, "If it wasn't for "Real Estate" think how bad things would be." Rarely is the big tax break mentioned. Right now, at least people who lost a lot in stocks feel better because they know their house went up. Take that away and they really scream. Keep that break and housing continues to bubble and the rest of the economy suffers as well as the governments tax revenues. Government gets LITTLE essentially NO revenue from capital gains where as a couple years ago they got a lot. This is just now starting to really hit and the deficit is about to go through the roof (no pun intended). Meanwhile it seems Congress is clueless. Nothing new there.

Jim
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