IPOANS Capital Gains Survey
Sentiment Summary
May 19. 2024
The overall sentiment of the survey responses is overwhelmingly negative. Respondents express significant concerns and dissatisfaction with the proposed changes to capital gains taxes. Key themes include:
- Impact on Retirement Plans: Many respondents highlight that the increased capital gains tax will negatively affect their retirement plans. They emphasize that their investments in properties were meant to secure their retirement, and the new tax measures will force them to work longer or retire with less financial security.
- Discouragement of Investment: There is a strong sentiment that the changes will discourage investment in real estate. Respondents believe that this will lead to a reduction in the availability of rental properties and negatively impact the broader economy.
- Financial Hardship: Several small landlords express concerns about financial hardship due to the increased taxes. They mention that the changes will reduce their already modest gains and make it difficult to manage their properties profitably.
- Perceived Unfairness: Respondents feel that the government is unfairly targeting individuals who have planned for their future and invested in real estate as a means of financial security. There is a perception that these measures are punitive towards the middle class and small investors.
- Economic and Social Implications: Some comments suggest that the new policies will lead to broader economic and social issues, including reduced investment in housing, increased concentration of property ownership among larger landlords, and potential negative impacts on housing availability and affordability.
- Distrust in Government: There is a notable level of distrust and frustration with the federal government. Respondents’ express skepticism about the government’s intentions and effectiveness, accusing it of being misleading and making poor policy decisions that do not benefit the average citizen.
Overall, the responses indicate strong opposition to the proposed tax changes, with concerns about personal financial impact, broader economic consequences, and a perceived lack of fairness and transparency from the government.