How can we call attention to Obama’s proposal to tax the sale of a personal residence by 28%? If you ask me that constitutes raising taxes on the middle class. Of course there was no mention that I could see to allow for a loss. Wouldn’t this seem like a fair tax cut to propose considering the current market?
We purchased a home in Florida in 2006 which is currently worth 30% less that what we paid. We’ve paid $50k on the mortgage but are underwater at least that amount again. We are making our payments in order to preserve our credit but could certainly use help as this would be a huge loss to deal with if either my husband or myself were to loose our jobs.
There are those of us out here that are responsible and are still in trouble on their homes. We may have no choice but to get out from under this property and a tax write off at the least would help!