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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: MSI who wrote (8298)	1/21/2003 1:19:23 PM
From: Jim McMannis	Read Replies (1) \| Respond to of 306849

RE:"In fact, polls show most in the US believe they are, or will themselves someday be rich" I saw that pool. 19% of people think they are in the top 1%. Trouble is that the government agrees with them and taxes them (and more) as such...what a hoot. Lets face it. the whole system needs massive tax reform. Due to special interests already getting tax breaks, a fair tax system some taxes would have to be raised. Then the screaming and whining starts. As for Bushes tax plan...it's just baby steps...beating around the Bush. Dividends and estates are double taxed even triple taxed. Real estate has at least 4 tax breaks, one where you can pocket $500k tax free. Now we are building a bubble that will likely result in a lot of pain. Hard for the govie to cut payroll taxes. They've already given the money away. Maybe they can and make it up with taking some of the RE tax breaks away? Wait, the real estate lobby will fight that...oops.