Capital Gains should be adjusted for inflation

I sold some stock and it looks as if I will owe around 1000 additional. As I have little withheld I end up owing around 700 April 15. My understanding is if it is over 1000 a penalty will be levied. AAR it got me to thinking, (always a very bad sign), Capital Gains should be adjusted for inflation. Lets face it, that home you bought 40 yrs ago, is likely 3 to 4 times more than you paid for it. Granted, the fact you lived in it and made improvements is nothing compared to 4 to 5% annual inflation compounded daily.
Methinks this should be the 2nd thing on every Congressional aspirants' campaign promise, right beneath term limits

JMWinPR wrote:I sold some stock and it looks as if I will owe around 1000 additional. As I have little withheld I end up owing around 700 April 15. My understanding is if it is over 1000 a penalty will be levied. AAR it got me to thinking, (always a very bad sign), Capital Gains should be adjusted for inflation. Lets face it, that home you bought 40 yrs ago, is likely 3 to 4 times more than you paid for it. Granted, the fact you lived in it and made improvements is nothing compared to 4 to 5% annual inflation compounded daily.
Methinks this should be the 2nd thing on every Congressional aspirants' campaign promise, right beneath term limits

Don't hold your breath...