[ReignOfError]

“Any asset held by a retiree that is to be liquidated for income in retirement will be subject to an additional 30% tax” —

Only if the proceeds are spent on new retail goods. And if the asset has appreciated -- like, for example, the common circumstance of a retiree or empty-nester selling a big, expensive one and buying a less-expensive one, smaller or in a less-expensive area -- they won't face capital gains tax on the sale.

[Paladin2]

You are correct with regard to FT's effect on used vs new.

However to be fair, the FT should provide a BIG prebate as it starts to avoid the clear unfairness of this attempted asset grab.

[mad_as_he$$]

Lifetime CG exemption of $500,000 on houses is in place now.

[curiosity]

Only if the proceeds are spent on new retail goods.

What do you think retirement savings get spent on?