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In that case and in the spirit of fairness, triple the taxes of all George W. Bush voters so we can actually pay for the war.
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Almost every democrat voted for the war, and continued to vote to fund it for years. No Republican voted for Obamas spending. Of course "fair" is just another word liberals don't know the meaning of, like "free" and "rights".
Ohh right, none. There is no tax for them to get a break from.
And yes, we need a flat tax and an end all deductions. Fairness and equality for all.
Unless my landlords have lied to me, I've paid a lot of property taxes. They often tell me they have to raise the rent because the property taxes went up again.
When I lived in Michigan, the school tax rate on my rented home was 4x the school tax rate on the owner-occupied home next door. Since my landlord was not a charity, I ended up paying the tax.
Michigan makes a nonrebuttable presumption that 20 percent of rent paid covers property taxes and they offer a rebate to renters who pay more than that 3.5 percent of their income in property taxes.
How will you close the "loophole" without preventing all corporation owners from receiving the benefit of the deduction? In such a case how do you overcome the 14th Amendment equal protection clause (corporate owners are afforded the same equal protection of the law as everyone else), or how do you overcome the corporate property rights to intermingle corporate and personal accounts?
How will you close the "loophole" without intermingling spousal accounts and requiring that spouses file taxes jointly? In such a case how do you overcome the violation in property rights of the spousal owner of any property?
How will you close the "loophole" for friends renting their properties to other friends (while renting their property)? While retaining equal protection, and property rights?
By the time you close the loopholes the law will not be worth the paper it's written on, and no one will be getting a deduction.
Off the top of my head, extending the deduction only to natural persons should prevent corporation owners from receiving the benefit of the deduction.
Unless my landlords have lied to me, I've paid a lot of property taxes. They often tell me they have to raise the rent because the property taxes went up again.
When I lived in Michigan, the school tax rate on my rented home was 4x the school tax rate on the owner-occupied home next door. Since my landlord was not a charity, I ended up paying the tax.
Michigan makes a nonrebuttable presumption that 20 percent of rent paid covers property taxes and they offer a rebate to renters who pay more than that 3.5 percent of their income in property taxes.
You paid nothing!
NADA!
ZILCH!
ZERO!
EVER!
Your landlord is beholden to those taxes, not you. His/her name is on the bill. You pay them to borrow space. He is savy enough to make sure you cover his expenses + profit margin. When the idiots in government raise taxes he has to raise rates to maintain a profit margin (pay attention $15/hr folks!). You deserve nothing as a renter because you have absolutely no requirement to pay that tax bill.
Quote:
Originally Posted by beb0p
No deduction???????!!!
That wouldn't sit well with me.
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Why not. Say there are 10 people in town all making the same amount but in different ways and they need to pay a the taxes of $100 to run the town. Instead of having to make rules on who bought what, owned this property, used this money for work related items, had that medical issue, etc everyone gets a tax bill with the same percentage of income.
I would be much happier and able to plan finances knowing that I owe 15% to the government on every dollar I make over $10,000 (example for deduction most people agree to) then having to see an accountant to figure out which itemization's I can use this year or whether something changed and I owe money.
Your landlord is beholden to those taxes, not you. His/her name is on the bill. You pay them to borrow space. He is savy enough to make sure you cover his expenses + profit margin.
And by your own admission, that includes property taxes.
Quote:
Originally Posted by beb0p
Tax break for homeowners is one of the greatest ideas ever implemented by our government. It promotes home ownership and help the middle class achieve the American Dream.
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Putting 0% down on a $250,000 McMansion and paying $250,000 for a McMansion, plus paying $318,000 in interest in hopes of being able to sell the house for more than $570,000 to break even is the America Dream?
And by your own admission, that includes property taxes.
The tax bill is in his name?! Maybe I missed that in the above posts. Can you please let me know which state puts the tax bill of the apartment or home in the name of the renter?
Because the way you are probably thinking about would allow me to write off 100% of my income and pay 0% because my money is is trickling up to the people I purchase things for those I receive goods and services from. I'll have to write off travel expenses because I purchased from Walmart, so obviously I get that. I'll write off my mortgage to investments, because I'm sure the banks used it for that. I'll write off my expenses because they went to icky corporations for raw goods to create finished goods. My food obviously went to conglomerates so I will write that out for agricultural exemptions.
Likewise to everyone else. Maybe Sanders and Clinton can add that to the "free stuff".
Almost every democrat voted for the war, and continued to vote to fund it for years. No Republican voted for Obamas spending. Of course "fair" is just another word liberals don't know the meaning of, like "free" and "rights".
That was one time when the Democratic politicians went against the base of their party. I have no problem triple taxing those Democrats who voted for the war along with the Republicans.
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Putting 0% down on a $250,000 McMansion and paying $250,000 for a McMansion, plus paying $318,000 in interest in hopes of being able to sell the house for more than $570,000 to break even is the America Dream?
Most mortgage loans are 30 years long, do you have any idea how much a house can appreciate over decades?
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