That's a lick. Capital Gains will eat you up.
Jeff can back me up here...me and him went to this fund-raiser fer Congressman Eric Cantor and got our five minutes of face-time with the Deputy Whip in the House and Tom Delay's RightHandMan!! What did we discuss? Capital Gains...I said we needed to index Capital Gains fer inflation...IOW, if a property is originally valued at $100,000 and you end up selling it ten years later fer $200,000...well, meanwhile you've had 3% inflation per year and that appreciation ain't really double yer original value.
Well, Eric--and yes, he was born within a month of myself so I have no reservations whatsoever with calling him by his first name--told me excitedly "Let's not stop at INDEXING Capital Gains, let's eliminate Capital Gains altogether!!" Well, I told him I didn't think we could get the elimination of Capital Gains passed with the present Congress, especially the Senate. I feel somewhat betrayed as I cut my $28K check to Dem IRS SCUMBAGS!! Yeah, I've whupped the IRS RATS' A$$es, too!!
FReegards...MUD