Quote:
Originally Posted by widebody911
Golden Rule: those who have the gold, make the rules.
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Yep. Personally, I don't flip stocks or houses (I'm a long term investor with all irons in the fire), and capital gains are virtually a non-issue with me (houses, 401Ks, IRAs and pension). IMO, the reduction to 15% (coupled with the "tax shelter" for one's primary residence) had a direct, almost immediate impact on "house flipping" and the houising bubble in many areas. WE ARE ALL paying dearly for that one
. I know of one individual who completely avoided even CG taxes (legitimately taking advantage of the "primary residence shelter") by living in their investment properties.