The Tax Man

How does this work?

I buy a place, financing $500K, and a couple years later I sell for $750K. I pocket the $250K tax free capital gain.

But... I buy a place for $500K, and a couple years later I sell for $250K. I owe the tax man TAXES on the $250K LOSS.

Wait, what was the first part...?

with this never end?

Seems, that all this un-employment will never end. I got an early start on the down turn, expecting to return for a fresh start. Lucky me. I planned for a year off and actually went places, hiked the trails, and took the tours. Now, I'm ready to work... and dang, there's no work.

Whatever happened to I.T. being a secure job? Mine went to India and, it seems, so did all the other programmer jobs. Oh well, there's always teaching engrish somewheres....