[slowbubblecar]

Originally Posted by Goat Blower

You've obviously didn't own a house more than three years ago as every home owner in the US rode the housing market wave after Clinton forced Fannie and Freddie give everybody a home loan. We all did pretty nicely on that, you wouldn't be so excited about doubling the capital gains tax if you were one of us. And besides that, exactly what do you think the government is going to do for you with that extra money? Show me any government program that is self-sufficient.

Um... Clinton did not force fannie and freddie to make loans. They don't even make loans. Loans are made by financial institutions and sold to fannie and freddie. The banks and credit unions who granted the loans are to blame. Housing values were increasing so rapidly that they were granting loans to poor credit borrowers with high debt to income. The financial institutions weren't worried as property values were increasing so rapidly that they wouldn't have to worry about losing money if they were to foreclose of on a property. I work as a bank examiner and work with financial institutions who sell loans to fannie and freddie.

BTW, you don't have to pay capital gains taxes on homes used as a primary residence if you live in it 2 years and don't make make more than a $250k profit for an individual or $500k profit for a couple.