Monday, November 5, 2007

More on the Guaranteed Recession Debacle

I'm going to blog about this proposed disaster until it is dead as a doornail. The Real Estate Roundtable is the latest group denouncing the proposed Temporary Tax Relief Act of 2007 (HR 3996), a/k/a the Let's Make Sure the Economy Goes in the Tank Act. Yep, let's make sure entrepreneurs have another reason not to undertake risk. And then let's see the "pervasive effect on jobs, economic growth and the tax base" that this law will have. I'm almost in pain thinking about it.


Lisa Michelle Galley: said...

Yes, this tax would be pretty damaging to direct real estate investment, and would hurt every player in the capital supply chain -- like lenders, who already have their hands full with other capital markets problems.