VetOfTheSeas@discuss.online to Work Reform@lemmy.world · 10 days agoThe rich convinced us that taxing them is too complicated but everyday people can be taxed pretty easilydiscuss.onlineimagemessage-square193linkfedilinkarrow-up11.68Karrow-down114cross-posted to: latestagecapitalism@lemmy.world
arrow-up11.67Karrow-down1imageThe rich convinced us that taxing them is too complicated but everyday people can be taxed pretty easilydiscuss.onlineVetOfTheSeas@discuss.online to Work Reform@lemmy.world · 10 days agomessage-square193linkfedilinkcross-posted to: latestagecapitalism@lemmy.world
minus-squareLedivin@lemmy.worldlinkfedilinkarrow-up7·9 days agoI agree with the core argument, here, but… Interesting how “unrealized gains” only become a problem when wealthy folks are involved …do you think wealthy people don’t own property? 🤔
minus-squareJennaR8r@lemmy.dbzer0.comlinkfedilinkarrow-up4arrow-down1·9 days agoAh! So you’re telling me that wealthy people DO get taxed on the unrealized gains of the properties they own? Just like us normies do?
minus-squareTwitchingCheese@lemmy.worldlinkfedilinkarrow-up2·9 days agoNot for long, see the push by Republican groups for abolishing property tax.
minus-squareJennaR8r@lemmy.dbzer0.comlinkfedilinkarrow-up1arrow-down1·9 days agoIf property taxes are abolished it better be for EVERYBODY, not just for billionaires & corporations & private equity groups.
minus-squarepingveno@lemmy.worldlinkfedilinkEnglisharrow-up6arrow-down1·9 days agoIn the US, the mortgage interest tax write-off goes disproportionately to the wealthy. It also inflates housing prices, so it doesn’t really help affordability. Certainly not enough to justify the cost.
I agree with the core argument, here, but…
…do you think wealthy people don’t own property? 🤔
Ah! So you’re telling me that wealthy people DO get taxed on the unrealized gains of the properties they own? Just like us normies do?
Not for long, see the push by Republican groups for abolishing property tax.
If property taxes are abolished it better be for EVERYBODY, not just for billionaires & corporations & private equity groups.
In the US, the mortgage interest tax write-off goes disproportionately to the wealthy. It also inflates housing prices, so it doesn’t really help affordability. Certainly not enough to justify the cost.