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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (11390)	2/20/2001 6:18:17 PM
From: Logain Ablar	Read Replies (1) \| Respond to of 30051

Zeev: A simple rapid fire tax cut The one thing I've leared is simple and rapid may be in the politicians vocabulary but its always a smoke screen for the reality. Had a banker friend call today asking about doing a 300k home equity loan as a bridge loan on a house purchase. I said it sounded fine but there is a 100k limit on home equity. After reading her the rules between acquisition debt and home equity with thier deductibility and restrictions (i think it just wrecked some of the work she did) she couldn't understand how something that didn't make practical sense be right. I had a good laugh and said it may not be right its just the law. Welcome to congress / senate and the world of compromise and special interests. Also I expect the estate tax repeal to be dead (maybe up the limit a little bit) with the insurance and legal areas having too much of their $$ generated from ways to minimize the tax. tim