Quote:
Originally Posted by 12clicks
First, I agree that that loophole should be closed.
Second, bill gates and warren buffet have paid more in taxes than all the people who have ever posted here combined. Stop worrying about other people's "vast holdings"
It's none of your concern. The government and the extreme left just wants you to think it is.
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I used it as an example to respond to you.
Example of someone I know. Bought a rental house with a second loan on their house. Tax free money to invest. Then through 1031 exchanges etc worked that into 3 million when they cashed out in 2001. This was long term capital gains at 20%. This is the stuff that makes America great, and no one would disagree with that. Also no need to fib about the figures to get agreement.