They don’t want to contribute to society, even at a lower rate than wagies.
Comment on This boomer couple would be hit with $700,000 tax bill if they sold their mansion
november@lemmy.vg 3 weeks ago
In other words, their house would sell for at least 3.5 million. Where exactly is the problem?
Pogogunner@sopuli.xyz 3 weeks ago
psx_crab@lemmy.zip 3 weeks ago
Just weeks after Republican Rep. Marjorie Taylor Greene introduced a bill to eliminate the federal capital gains tax on home sales, Trump said the effort could help juice housing market sales amid persistently high interest rates.
This is exactly the problem.
blitzen@lemmy.ca 3 weeks ago
3.5 million is the increase in value over what they paid. That means they were making well over $100,000 every year for the past three decades, and they are complaining about paying cap gains.
Fucking Boomers.
frezik@lemmy.blahaj.zone 3 weeks ago
Also, fucking Business Insider for running this obvious tripe.
Not surprising from an outlet created by DoubleClick founders and a guy who is barred from exchanges due to securities fraud.
Delphia@lemmy.world 3 weeks ago
Also capital gains on a primary residence should decrease somewhat over time.
These arent property speculators or people buying and parking empty homes. They are people who bought a house, lived in the community, probably raised a family and didnt move for 30 years and now want to downsize.
jj4211@lemmy.world 3 weeks ago
Ironically a property speculator could dodge this tax by buying a replacement property thanks to like-kind exemptions offered to investors but not private homeowners…
logi@lemmy.world 2 weeks ago
And will make a 3.5 million dollar profit from that transaction.
Delphia@lemmy.world 2 weeks ago
And?
If they have to pay taxes on that profit as if this was a business venture or investment they should be allowed to deduct 30 years of maintenance costs and loan interest as business expenses.