September 2, 2011
This idea is just another job killer. I am retired and depend on my REIT investment return as income. It allows me some leeway to travel to see my kids at college and to fund their schooling at an out of State Colleges. Reits are one of the last bastions of decent investment return. You take this away and you will crimp my ability to spend considerably. I pay taxes on what I earn from my REIT investments. I am able to spend for travel and such extras as personal computers because of this income. This is just another dumb socialistic idea. You think you'll gain more tax revenue, but in end you will stifle spending and lower tax revenues. You ned to encourage more investments like REITS not take them away. Such a hopelessly myopic concept.