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Oh, this is so funny...
On the news just now was a story of "property investors" who were bleating like little lost sheep about... property taxes.
In the typical "victim as expert" style that the commerical channels love, they interviewed a bunch of nuffies who are geting absolutely reamed by massive increases in their land and property taxes.
They're all outraged... but I bet it felt real nice buying a car by extracting equity from the house, didn't it? What did they think was going to happen to their rates and property taxes as a result of the mania-induced "increase in value?"
Capital gains tax is only the Federal side of the story - the State and Local parasites also line up for their bite at the wallet too.
