Taxation and the middle class

[Bytor]

Many investors own multiple units

And therein lies the rub.

If somebody was that well off to be able to buy multiple condos or single-family houses, the extra capital gains tax is not hurting them in any way.

But they were part of the reason why housing got so outlandishly expensive by participating in the speculation to buy multiple extra properties like that.

Zero sympathy. Let's go back to the high marginal tax rates on the rich from the 1950s and 1960s. (And, no, "capital flight" doesn't really happen.)