Understanding Capital Gains Tax on Home Sales

What major change is President Trump considering regarding home sales?

• Introducing a new home sales tax

• Removing capital gains tax on house sales

• Increasing property taxes

• Reducing mortgage interest rates

What is the current tax exclusion limit for single homeowners selling their homes?

• $750,000

• $100,000

• $250,000

• $500,000

Why might older homeowners be more willing to sell if the capital gains tax is removed?

• They will have lower mortgage rates

• They can avoid paying a large tax bill

• They will receive government incentives

• They can buy a new home at a discount

Who would benefit the most from the removal of the capital gains tax on home sales?

• First-time home buyers

• Homeowners with large profits

• Renters

• Real estate agents

What is a potential downside of making real estate more profitable for investors?

• Higher mortgage rates

• More homes being flipped or rented short-term

• Lower home prices

• Increased housing inventory

What alternative to removing the capital gains tax is suggested in the video?

• Introducing a new tax on luxury homes

• Offering tax credits to first-time buyers

• Raising the current tax exclusion limits

• Reducing property taxes

What is one of the political motivations behind the proposal to remove the capital gains tax?

• To reduce the national debt

• To appeal to younger voters

• To increase government revenue

• To attract older and wealthier voters

What is a concern for fiscal conservatives regarding the proposal?

• It will decrease housing prices

• It will increase the national debt

• It will reduce government spending

• It will lead to higher interest rates

What is a potential challenge for the proposal to become law?

• High implementation costs

• Need for Congressional approval

• Opposition from real estate agents

• Lack of public interest

What broader question does the video raise about tax policy?

• Should taxes be eliminated for all real estate transactions?

• Should tax policy reward long-term asset holding or help new buyers?

• Should taxes be increased for all homeowners?

• Should tax policy focus on commercial properties?