I read an interesting column at Inman News that could be applied to any tax incentive. Columnist Marcie Geffner gives a bite-size shake down of the sham first-time-buyer's tax credit dished by our Federal government. I agree with her points that current home-owners are basically paying for past risk and the credit distorts current home prices to an extent. The unfairness tag can be applied to any tax credit. We get ourselves so tangled up in qualifying for tax credits... but one way or another, we pay for some other incentives offered by Uncle Sam. Geez.
I've mentioned in past posts here that my clients (and buyers viewing my homes for sale) are very aware of the tax credit deadline. I benefit from these motivated buyers. But, I'd be okay with flattening the tax code in general and firing my accountant!