Well, my point was that you and I think it's a good idea, but there might be some hidden drawbacks we aren't aware of. Something is preventing the idea from becoming a part of national discourse. You'd think Elizabeth Warren would talk about it -- rather than only talking about unrealized capital gains -- given that it seems like a perfect compromise.
Maybe the problem is that it wouldn't raise much money so isn't all that worth doing. I actually have no idea how much money is borrowed against untaxed collateral. $100B a year, for instance, is a lot of that activity by our standards, but taxing that $100B at 20% raises very little money.
Not sure the answer but you buy a home with an expectation and then they jump your house up 30-40% and just hand you a bill. I’m ok with it for certain things but homes have to be treated differently. Just too important to folks.
