OK, so it is a real tax … but it’s not like it’s the end of the world. It creates a modest tax burden for a small number of people but it doesn’t even come close to rolling back the 1997 capital gains exemption that helped fuel the housing bubble.

Plus this will apply mostly to people who’ve benefited handsomely from low property tax assessments over the years, and only if/when they sell. As a new homeowner I say tax the so-and-sos, because they’re the ones who want to take away my mortgage interest deduction to pay for their Medicare-funded power recliners.

Come on folks, this isn’t the end of the world. I can’t see this as enough to influence sales decisions one way or another …