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I would be more okay with property tax, IF once you reached a certain age (or disabled), you were not required to pay property tax.
And this is why in most civilized countries, progressive income taxes make up the majority of the government budget. Basing taxes on non income/investment related metrics screws over the poor + lower middle class. It's a transfer of wealth from the poor to the rich.
This doesn't fit the narrative, but a lot of American states have lower effective property tax rates than European nations. There exceptions on both ends of this of course (like TX which is making up for a lack of income taxes).
People should look them up and compare European nations to major us cities and states. Europe ends up with not only higher income taxes, but also higher property taxes overall. And a completely insane financing method like having adjustable rate mortgages being normal, locked only for a period of 3 to 5 years before basically being forced to refinance. Little wonder that property ownership rates are generally so far below american ownership rates.
No system is perfect and people with means tend to find every flaw in them (and plant those flaws if they are wealthy enough). But people really need to remember that the grass is always greener because of all the manure.
you could have progressive taxes on wealth as well. there's a difference between having one house worth 500k and having 500 million in shares
To be fair this dude could have gotten his house 45 years ago for 50K. So adjusting for inflation and overall development of his area, it could make sense. Comparing current payments to cost of money 40 years ago is comparing apples to oranges.
Now all that being said....there is a serious issue with cost and availability of housing, and I am not dismissing that. I'm just saying context is needed for this ragebait post.
I don’t understand inflation, so as an old landowner I think I shouldn’t have to pay taxes.
Property taxes do hit retired people differently though. Taxing based on what the government says your land is worth instead of your income is absolutely meant to create opportunities for real estate agents and developers at the expense of the people living there.
There are a lot of people suffering right now to the extent that his plight seems so frivolous.
I'll bet hes a republican voting for deficit which results in raised taxes on people like himself and cuts for people far richer than him.
i mean, this is less of a property tax issue and more of a social security thing.
Though i am pretty fundamentally against property tax, it's a physical thing that i can own, i don't see why i should pay taxes on it. If you want to tax me just hit me with income tax.
Property has infrastructure like water, roads, electrical, sewers, etc running to it that needs to be maintained. It also has things like fire fighting police surveyors etc that need to be paid in order to maintain society. Everyone could work in a city therefore the city/county/state would collect the income tax but the local town you live in doesn't get any of that money.
Cause you don't own it. You are borrowing it from the government.
That's the thing about increasing home prices nobody talks about. It increases the "value" of your home, so you're taked more.
When my parents retired, they didn't move out to the country to get away from the city life. They did it because it saved them 40 grand a year in property taxes.
Where the fuck did they live? What was the home value and tax rate? That's insane.
Sorry, oh the irony is rich.
For many states property taxes are the majority of funding for public schools. If that's the case for the pictured person, the sign could also read:
"I got my public education for free from age 5-18 funded from others paying property taxes including learning how to read and write to make this sign you're reading. Now that I've received that free public education and benefited from it, I'm not interested in paying for any kids to be educated using my dollars. F you, I got mine."
Remember - america is not a country, it's a business.
If you can't make it - noone gonna do shit