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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Tenchusatsu who wrote (259505)	11/11/2005 2:16:44 PM
From: tejek	Read Replies (2) \| Respond to of 1573216

Ted, Who the Clinton law has most benefited? Retirees.....people who are selling out and moving into something smaller because the kids are gone and they are getting to old to maintain a regular sized house. The way I see it, real estate is one big speculation game. I don't care if some retirees rely on their home equity as their nest egg. Why should speculators get huge tax breaks while first-time home buyers suffer? Its not the speculators who are making a ton. Speculators buy the property for $300K; put $25K in and sell it for $400K. By the time they pay for selling costs, holding costs, etc., they are making maybe a $30K to $40K gain per flip. And speculators are in only the few truly hot markets.......LA, SD, SFO, Seattle, Miami, DC, NYC and a few others. The majority of the people making large, tax free gains are middle income, many of whom have lived in their houses for decades and are getting ready to retire. Clinton was a Rhodes scholar.......he was not stupid. He knew what he was doing and who would benefit most from his tax. Its why things worked so well during his presidency. It's why history will look favorably upon him.