September 2, 2011
Dear Sir or Madam:
REITS investment instruments generally pay out 90% or more of profits to their shareholders in the form of dividends. Many of these people including myself are retired persons living off my 401k, pension, etc. These investments and dividends do not make me independently wealthy, but what they do do is provide me with much needed extra income. In one felt swoop these questions added new unknowns to an already shaky market. REITs did not cause the mortgage mess we are in but tinkering with them now will cause more damage to the system and many many retired persons quarterly incomes. Please leave them in their exempt status and put out a statement that you are doing so.
Thanks in advance
Adam N Marcotte