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In reply to the discussion: Note To Bloomberg: Like A Lot Of People, I Own A House. And Every Year I Have To Pay... [View all]Honeycombe8
(37,648 posts)49. Well,no. That's not true...I think.
The percentage for property taxes is the same. The rate doesn't decrease the higher the appraised value. In fact, you don't get a homestead exemption if your income is over a certain amount. And there are no exemptions for other than the main residence.
So what I'm saying is...the proposal is that the property tax (which is, say 2% for middle class on a $250,000 house, should be maybe 10% on a $5,000,000 house)?
My understanding is that the proposition is based on property...not cash. Or maybe it includes inherited cash? That's hard to separate, since the heir takes the cash and maybe does things with it, like invest it, buy a house (which is already being taxed at 10%)?
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Note To Bloomberg: Like A Lot Of People, I Own A House. And Every Year I Have To Pay... [View all]
TrollBuster9090
Jan 2019
OP
The wealthy need to pay a yrly tax on their wealth,on stcks, bonds,wealth held in Banks.
onit2day
Jan 2019
#72
Indeed, an awesome rant. I love the blurb about wealth taxes and that we need on the ...
SWBTATTReg
Jan 2019
#4
Thanks! It's amazing, isn't it? They spout this fake analogy of a 'socialist' country every day
TrollBuster9090
Jan 2019
#14
Sadly, the talking heads DON'T push back on the Nazi claim. Not on Fox, anyway.
TrollBuster9090
Jan 2019
#25
OMG !! That is the best thing ANYBODY has wriotten on the ole DUer in years !!!!!!!!!!!!!
pangaia
Jan 2019
#18
Capital gains is more like 35 1/2% in CA (including Federal tax) for high incomes
BSdetect
Jan 2019
#20
I'm not familiar with California (other than the fact that it's a fantastic State), but I checked
TrollBuster9090
Jan 2019
#28
Oh, pleeez. Who is going to do all that valuing? The college grad IRS agent?
Honeycombe8
Jan 2019
#68
When I first did tax returns in the early 80's in Ohio there was a personal property tax.
wasupaloopa
Jan 2019
#51