Quote:
Originally Posted by Porsche-O-Phile
The only upside to this is it will help to rein in future real estate speculation by eliminating one of the core incentives.
Although we absolutely DO need to come up with ways to ensure that another bubble similar to the one we just went through never, ever occurs again, I question whether this is the best way to do it. The phrase "ulterior motives" comes to mind immediately... Follow the money.
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You are correct, IMHO. Rolling over profits is one thing, exempting them is another. However, the exemption should be continued for seniors to allow them to properly downsize w/o a penalty.
This may very well keep many seniors from becoming "on the dole." Let's take the path of most economic sense. I'd submit that once someone reaches retirement age as defined by SS and draws SS, they should be able to tap into their equity by selling w/o any penalty, or at least leave the rates as Clinton set them. Those rates are conservative at best when you think of how much it takes to sustain a livable standard.