A 23% tax on buying a house would just about kill the RE market.Why? Assume:1. Monthly net income = $15002. Monthly mortgage = $500 (a third of net income)3. A 15% increase in net income (% rises as income rises)After change:1. Monthly net income increase = $2252. Monthly mortgage increase = $115Of course, that net income increase also has to pay consumption taxes on other goods. My question would be what happens to FICA taxes?
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