You can say one thing for the gangsters who ran the gambling halls and gin joints in Chicago in the 1920s. They never forced an entire neighborhood out of their homes. Today’s Chicagoland government has no such qualms however.
If one makes over $200,000/year and if one realizes at least $250,000 in gains if single or at least $500,000 if married, on the sale of a home, one gets to pay (an additional) 3.8% to the federal government.
5 years worth of numbers to be revised down. Read More