On 7/7/10 10:06 AM, snipped-for-privacy@yahoo.com wrote:[snip]
I missed two items for comment:
> Maybe they could find that CA statutes define primary home more
> liberally, and thus federal law will defer to state law on this issue. No dice.
>
> It's an irony to me that the new sec 121 mostly benefits people in the
> big expensive cities, but people in those cities are typically more > pro-tax. >
You've lost me on this one on both counts. I've never seen any data that contains a distributive analysis of the tax benefit that derives from the exclusion from gross income nor have I seen any survey data that says residents of big cities are typically more pro-tax.