The editorial readily admits it would be the country’s “most unpopular tax,” but suggests it’s a discussion worth having due to the enormous tax-free gains being made by today’s sellers.
Latest in Mortgage News: Rising Prices Spur Talk of Capital Gains Tax on Home Sales
The Department of Finance actually tracks the revenue the government is missing out on by not taxing home equity on principal residences: $7.1 billion this year alone.
