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

To: bentway who wrote (266661)	12/31/2005 12:49:16 AM
From: Jim McMannis	Respond to of 1577762

You've already told me it wasn't fair in previous posts. What else do you get a $500k capital gain exemption? Why just Real Estate? As for the "gift to the rich"...that's a dem mantra. Warren Buffett,,,got the $500k exemtion when he sold his California home. Was that a gift to the rich? The exemption is not means or income tested. That's goes against the Dem mantra...no gifts for the rich. Yet you love the exemption. Don't you see a little hypocrisy? Basically it comes down to: Don't tax me, tax the guy behind the tree. Do I begrudge you taking advantage of it, heck no.. OTOH, you probably can't afford to move back to the same place in California because of it.

To: bentway who wrote (266661)	12/31/2005 12:50:26 AM
From: Jim McMannis	Read Replies (1) \| Respond to of 1577762

re:"Do you think anyone who owns a house in America is "rich"?" Do you think everyone who invests in stocks and mutual funds is "Rich"?

To: bentway who wrote (266661)	12/31/2005 1:31:28 AM
From: Jim McMannis	Read Replies (3) \| Respond to of 1577762

Chris...think of this one. A person buys 3 houses in 1995. Well off multimillionaire, retired young, whatever. One house in say NYC. One in Florida...one beach house on Cape Cod. They go up in price three-four fold in 5-6 years. Well over $500k unrealized gain in each. He sells the one in NYC...pockets $500k tax free plus whatever. Moves into the one in cape cod for 2 years...sells that one for a $1M gain...half of which is tax free. Moves on to FL. Stays 2 years. Sells for a nifty gain, $500K of whch is TAX free. In all...he bags $1.5M tax free plus whatever on top. Was this a gift to the rich? Hell yeah it was. How does a new teacher out of college afford anything in these areas? He was stupid because he was born too late? Because he had some other passion besides flipping real estate?

To: bentway who wrote (266661)	12/31/2005 1:53:40 AM
From: tejek	Respond to of 1577762

Do you think anyone who owns a house in America is "rich"? That's who benefitted from the Clinton era cuts. They all had caps to prevent the really wealthy from benefiting from them disproportionately, and you KNOW it. I still don't know why your so down on them. They're really the only two tax breaks little guys get. Did you realize a big capital gain and pay taxes on it before the 500/250k exemption? Something really put a bug up your bum.. He's a bushie. They can't stand that Bush is doing a much worse job than Clinton. It must kill them. Everything Clinton touched turned to gold, everything Bush touches turns...errr....let's put it this way......a strong shade of brown.