VetOfTheSeas@discuss.online to Work Reform@lemmy.world · 2 months agoThe rich convinced us that taxing them is too complicated but everyday people can be taxed pretty easilydiscuss.onlineimagemessage-square174linkfedilinkarrow-up11arrow-down10
arrow-up11arrow-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 · 2 months agomessage-square174linkfedilink
minus-squareJennaR8r@lemmy.dbzer0.comlinkfedilinkarrow-up0·2 months 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-up0·2 months agoNot for long, see the push by Republican groups for abolishing property tax.
minus-squareJennaR8r@lemmy.dbzer0.comlinkfedilinkarrow-up0·2 months agoIf property taxes are abolished it better be for EVERYBODY, not just for billionaires & corporations & private equity groups.
minus-squarepingveno@lemmy.worldlinkfedilinkEnglisharrow-up0·2 months 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.
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.