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SoxFan

06/28/05 3:35 PM

#113219 RE: n4807g #113215

I'm not sure that capital gains for home sales adds much to the tax receipts as there are exemptions and if you buy an equal value house or greater then you can avoid the payments. I think there is a $500K one time deduction for the capital gains.
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ergo sum

06/28/05 3:55 PM

#113223 RE: n4807g #113215

The tax burden 2004.
11% corporate
49% income taxes
35% employment taxes
1.3% estate and gift taxes
2.7% Excise taxes.

The Tax burden 2000
11% corporate
54% income taxes
30% employment taxes
1.4% estate and gift taxes
2.6% Excise taxes

Who wins? The people with the most money have their taxes decreased and the people with the least income have their taxes increased. Basic Reaganomics.