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Ready on Day One?

January 17, 2008 By Mark Kleiman @markarkleiman

Looks that way to me.

Footnote Maybe this is old news, but Obama proposes to eliminate income tax on the phantom “gain” homeowners get when they “short sell” their houses: i.e., sell them for less than is owned on them with the lender swallowing the difference. Right now, the difference is treated as taxable income.

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