They are paying money based on wealth they can obtain at any time directly by selling. So if you pay $50k and end with a 4M home you can sell it and live on the millions of dollars.
What if the real estate market cools off and they never get their millions of dollars - do you think they should get a refund for all the years they paid the higher tax on the expectation of getting rich which never happened?
They are paying money based on wealth they can obtain at any time directly by selling. So if you pay $50k and end with a 4M home you can sell it and live on the millions of dollars.
What if the real estate market cools off and they never get their millions of dollars - do you think they should get a refund for all the years they paid the higher tax on the expectation of getting rich which never happened?