So you feel the right solution is to give millionaires massive tax breaks and have middle class folks who can barely afford a house pick up the slack?
It is absurd and an anomaly. Let them stay, but when the reap a $1M+ profit on the house when they sell or die, they can pony up the tax, just like everyone else.
> So you feel the right solution is to give millionaires massive tax breaks and have middle class folks who can barely afford a house pick up the slack?
I did not say that so I don't mean that.
If a low/middle class person buy the house they can afford to pay and live in it, they don't become millionaires just because other people around them bought houses more expensively later. They're most likely still in the same career earning that same low/middle class income. They don't have any additional money to pay much higher property taxes, they are certainly not millionaires.
Tax them after sale, sure, if the property value is still high when they sell (it might not be).
It is absurd and an anomaly. Let them stay, but when the reap a $1M+ profit on the house when they sell or die, they can pony up the tax, just like everyone else.