Rich people prepare to pay more taxes

[PirateMk1]

Cayman Islands .. here I come!

Look into Puerto Rico. They have some interesting tax structures.

 

[Luther]

We 100% have a tax problem. The tax burden is becoming greater for the middle/working class with the wealth gap only grows. Home ownership is only becoming more difficult to attain for young families. It is unsustainable.

We 100% have a tax problem.

We sure do, last I heard 44% of Americans pay NADA in a Fed tax?

 

[Geoist]

Sounds exactly like a property tax, except it simply doesn't include the value of the improvements. Or are you saying property should be taxed twice?

LVT should replace property tax. Raise the % of tax to the market value and lower (or eliminate) the tax on the value of improvements. As I said to someone else, it can be done in a way that is revenue neutral.

 

[EMNofSeattle]

L

Property taxes discourage productive use of the land because the more you improve it the more you get taxed. Land value tax will punish the speculators who sit on a site for decades without developing it.

So under your hypothetical tax scheme, develop plans would get taxed at a lower rate than undeveloped land? Or are you getting taxed on the value of the land minus improvements?

 

[Luther]

Look into Puerto Rico. They have some interesting tax structures.

Puerto Rico is a shit hole no?

 

[Wayne Jr]

Do we feel sorry for rich people? Since Joe and a democratic house and senate are sure to raise taxes that rich people pay.

trump cut taxes for the rich. A rich man making a million dollars a year saw $69,900 dollars in tax savings every year.

Thing is, even if that's absolutely true, I want the money staying with the person who made it, not with the state, because the government can't properly manage a goddamned thing. Just look at Social Security and the war in Afghanistan.

Every single time in human history that a people turn to their government to 'tax the rich', the government just keeps it all, the poor get nothing, the rich join the ranks of the poor, and within a few decades, the whole economy collapses.

Every. Single. Time. It is irrational to support such policies.

 

[Geoist]

We sure do, last I heard 44% of Americans pay NADA in a Fed tax?

Can't squeeze blood out of a turnip.

 

[Luther]

We 100% have a tax problem. The tax burden is becoming greater for the middle/working class with the wealth gap only grows. Home ownership is only becoming more difficult to attain for young families. It is unsustainable.

We 100% have a tax problem.

So if that is the case, why do you suppose Obama and company didn't do anything about that during the Obamacare days?

 

[EMNofSeattle]

We 100% have a tax problem. The tax burden is becoming greater for the middle/working class with the wealth gap only grows. Home ownership is only becoming more difficult to attain for young families. It is unsustainable.

Homeownership cost is a problem, but it’s not tax policy that’s driving it. It is regulatory and environmental policy. I can buy a plot of land in the community I now live in for cash for the money I have now. But for various reasons it would either be unable to be developed For the cost of construction with modern regulatory schemes that didn’t exist even 30 years ago and with building codes that are so extreme that virtually all modern houses would fail them, means that I would pay more than a mortgage for a fairly expensive property.

Homeownership and most American suburbs is not a land availability problem, in many cases it is a local government problem. Combined with the property owners who are already there being Interested in high home values. There is also social factors, the extreme feminist pushing women into occupations means there is more demand for homes in there otherwise would be. Then you have illegal immigration the illegal aliens have to live somewhere too.

 

[Luther]

Can't squeeze blood out of a turnip.

What?

I don't pay fed taxes and have lots of money

 

[Geoist]

The rich will move their money into safe havens, and you will make up the slack.

And therefore I say tax their land. How much real estate is being hoarded away on those Cayman Islands?

 

[Geoist]

What?

I don't pay fed taxes and have lots of money

Well usually when people refer to those who do not pay federal taxes they are referring to the poor. Maybe this conversation can be helped along by you explaining why you don't pay federal taxes.

 

[PirateMk1]

LVT should replace property tax. Raise the % of tax to the market value and lower (or eliminate) the tax on the value of improvements. As I said to someone else, it can be done in a way that is revenue neutral.

So it is the same thing with twist. Here's the problem bub, and why prop 13 was enacted in California. When markets start getting hot then the tax authorities start taking chunks of tax and increases your tax burden faster than you can afford, thus forcing you to sell in an adverse condition even though the market is hot.

 

[Luther]

We 100% have a tax problem. The tax burden is becoming greater for the middle/working class while the wealth gap only grows. Home ownership is only becoming more difficult to attain for young families. It is unsustainable.

Home ownership is only becoming more difficult to attain for young families. It is unsustainable.

And this is due to the rich not paying enough?

 

[Geoist]

Homeownership cost is a problem, but it’s not tax policy that’s driving it. It is regulatory and environmental policy. I can buy a plot of land in the community I now live in for cash for the money I have now. But for various reasons it would either be unable to be developed For the cost of construction with modern regulatory schemes that didn’t exist even 30 years ago and with building codes that are so extreme that virtually all modern houses would fail them, means that I would pay more than a mortgage for a fairly expensive property.

Homeownership and most American suburbs is not a land availability problem, in many cases it is a local government problem. Combined with the property owners who are already there being Interested in high home values. There is also social factors, the extreme feminist pushing women into occupations means there is more demand for homes in there otherwise would be. Then you have illegal immigration the illegal aliens have to live somewhere too.

Jesus Christ, dude. Can't even talk about real estate costs without you expressing your hate for women.

 

[PirateMk1]

And therefore I say tax their land. How much real estate is being hoarded away on those Cayman Islands?

Good luck with that idea. First you have to find it.

 

[EMNofSeattle]

Jesus Christ, dude. Can't even talk about real estate costs without you expressing your hate for women.

It is not hatred to point out a market reality. If you have a bunch of professional men and women in their 20s and 30s, that group will collectively occupy more housing units then a similar size group of young men and women in their 20s and 30s who are largely married with children.

I like women just fine

 

[Luther]

Well usually when people refer to those who do not pay federal taxes they are referring to the poor. Maybe this conversation can be helped along by you explaining why you don't pay federal taxes.

Well usually when people refer to those who do not pay federal taxes they are referring to the poor.

Perhaps not buying their children expensive sports cloths they could at least pay something?

 

[PirateMk1]

Puerto Rico is a shit hole no?

New York, San Francisco and LA are shit holes yes? At least you are in a tropical island and its American and the tax burden is a hell of a lot better than the main land depending on what you are doing.

 

[Geoist]

So it is the same thing with twist.

Except it changes what is taxed and lessens the burden on homeowners while increasing the burden on speculators. So, really, it isn't the same thing.

Here's the problem bub, and why prop 13 was enacted in California. When markets start getting hot then the tax authorities start taking chunks of tax and increases your tax burden faster than you can afford, thus forcing you to sell in an adverse condition even though the market is hot.

The burden of increased taxes can be neutralized with a citizen dividend. The higher the taxes go, the higher the dividend check.

 

[Luther]

Well usually when people refer to those who do not pay federal taxes they are referring to the poor. Maybe this conversation can be helped along by you explaining why you don't pay federal taxes.

. Maybe this conversation can be helped along by you explaining why you don't pay federal taxes.

Sure...

I fill out my tax form and zoom, I pay no fed/state income tax

Me and wife make about 30,000 a year

 

[EMNofSeattle]

New York, San Francisco and LA are shit holes yes? At least you are in a tropical island and its American and the tax burden is a hell of a lot better than the main land depending on what you are doing.

Progress Island USA!

 

[Luther]

New York, San Francisco and LA are shit holes yes? At least you are in a tropical island and its American and the tax burden is a hell of a lot better than the main land depending on what you are doing.

New York, San Francisco and LA are shit holes yes?

Yes

At least you are in a tropical island and its American

Well, its hotter than shit over there in summer

They also can't manage their fiances

 

[Geoist]

And this is due to the rich not paying enough?

It is due to development, increased demand due to population, and the inelasticity of land supply. But considering the vast majority of valuable real estate is controlled by the rich, yes they are not paying enough.

 

[EMNofSeattle]

Except it changes what is taxed and lessens the burden on homeowners while increasing the burden on speculators. So, really, it isn't the same thing.




The burden of increased taxes can be neutralized with a citizen dividend. The higher the taxes go, the higher the dividend check.

Land speculation is not making housing unaffordable