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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: Cage Rattler who wrote (47141)	3/25/2011 3:48:36 PM
From: OldAIMGuy	1 Recommendation Respond to of 103300

Hi CR, Re: Real Estate 3.8% cap gain tax.......... If one's income is strictly salary you are correct. Some citizens already have significant "unearned" income. That's interest, dividends, capital gains, income from rental property, etc. The gains on selling a residence have always been forgiven if one rolled the sale into the purchase of a home of equal or higher value. The tax is a tax on one's savings for the retired. Why it is that the IRS delineates between "earned" and "unearned" income is beyond me. If one is smart enough to invest their time and assets wisely, shouldn't that be considered being earned? That said, I'm delighted to have my LT cap gains taxed as they are instead of as "earned" salary. TV