Friday, March 20, 2009

Those evil rich

The Bredesen-lovers of the world are doing all they can to turn the proposed FONCE repeal into a wealth-envy issue. The repeal of this exemption would affect a lot of working families who own rental real estate to try and build their future. I have just as much evidence of that as Reagan Farr has for his supposition that this is a tax break for the wealthy. I several people who are just small-time real estate investors who take advantage of this exemption. It gives them a greater incentive to invest because of the perception of limited liability. The author of the linked article even goes so far as to call this a "tax loophole for the super wealthy." Hardly.

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