Sunday, November 01, 2009

Annals of taxation: It is great to be president 

So, are we to believe that Barack Obama's Chicago house declined in relative value after his election to the presidency?

CWCID: Glenn Reynolds.


By Blogger JPMcT, at Mon Nov 02, 06:54:00 AM:

Members of the Inner Party are also allowed wine and house servants....at least that was what Orwell predicted.  

By Anonymous feeblemind, at Mon Nov 02, 08:32:00 AM:

I am sure it is entirely coincidental, TH. Nothing crooked to see here. Everyone move along. Sigh....  

By Blogger Stephen, at Mon Nov 02, 09:36:00 AM:

Feeblemind is correct (though that wasn't his intention)--there really is nothing to
see here. The original Sun-Times article has this explanation:

"The median tax bill for city homeowners is up 9.6 percent.

That's largely because the 7 percent exemption given to homeowners is being phased out.

But the president didn't take that exemption during the last two years. So he's not experiencing the pain of losing it, like most other Chicago homeowners."  

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