Home Foreclosure Is Such a Taxing Issue
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The issue of tax on phantom gains on home foreclosures has been around for years (“Home in Foreclosure? Now for the Bad News,” Nov. 21). The tax violates a fundamental principle of taxation: Liability should arise only when a taxpayer has something with which to pay the tax.
Some people in these circumstances have complained to Congress, and some members have proposed correction. Despite numerous tax bills in recent years, nothing has happened. Without significant grass-roots complaints or the support of professional lobbyists and contributions, the proposals have gone nowhere.
Until people in these circumstances learn to address their complaints to where it counts, the injustices and horror stories of these taxes will continue. Problems in Washington do not fix themselves.
BOB CLARK Jr.
Los Angeles
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