Friday, December 19, 2008

Let's blame all those "rich people" who earned a profit...

Did ’97 Tax Break Worsen Housing Bubble?
"And thanks to a tax break proposed by President Bill Clinton and approved by Congress in 1997, he did not have to pay tax on most of that profit. It was a break that had not been available to generations of Americans before him. The benefits also did not apply to other investments, be they stocks, bonds or stakes in a small business. Those gains were all taxed at rates of up to 20 percent."

Perfect - now we can find ways to NEVER let people keep their own money. Just what the NY Times loves to do....

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