I’m not biased I just know super wealthy people, people working in startups, people living in and selling extremely expensive homes. We are upper middle class and I promise you this tax does only good for us, no harm at all.

Over the summer our friends sold their house for $1.3 million more than they purchased it. Their capital gains were nowhere near a million dollars because of their capital improvements.

I know you think I’m biased but you seem emotional. You feel like some day this tax could cost $.04 for every dollar over a million that you make in a year, but you’re not being logical at all. The likelihood that you ever make $1,000,001 in a single year is very low.

Theoretically, let’s say you have an income of $150k and you sell your house for $1,000,000 more than you spent on it with no qualifying capital improvements. That means you’ll pay an extra $6k in taxes. Given that you just sold your house and made seven figures, I think you can afford the $6k and also likely won’t feel it much.

But, let’s also look at absolute numbers for home prices since the recession. If you spent $500k in 2008 on a house, and it has appreciated 60%, that means the house is now worth $800k, for a gain of $300k. That means in order to feel this tax for even $.04, you would need an annual income of $700,001.

In the event of a windfall that sets your annual income — even for a year — at a million dollars, I’d argue that you’re no longer middle class.

I just think you are proving the whole temporarily embarrassed millionaire thing and it’s not a great look.