(08-26-2022, 07:49 PM)Jags Wrote: [ -> ]My wife’s student loans have been canceled!!!! Woo woo! But not because of this [BLEEP]. She went and made money and paid them off.
And now she has the honor and privilege to help those that majored in gender equity studies pay off their student loans. ‘Merica!
(08-26-2022, 06:36 PM)Sneakers Wrote: [ -> ] (08-26-2022, 04:06 PM)mikesez Wrote: [ -> ]Property taxes may stress you out, but they are literally the only kind of tax that has been shown to encourage economic growth even as they increase. Every tax, at a low rate, has the effect of legitimatizing the government and the currency. But at typical rates, most taxes slow down economic activity and investment and growth. But property taxes continue to promote investment even at commonly used rates. If you have to have taxes, and you do, property taxes should be preferred.
Wrong, all taxes slow economic activity and property tax is no exception. Generally speaking, the greater the tax, the greater the impact. Property tax is just somewhat unique, because it's a fixed annual amount, rather than a factor of consumption or income.
Wrong. People have a tendency to sit on property and use it the same way year after year. Property tax encourages them to put their property to the best use, which is not a natural human tendency.
(08-26-2022, 11:33 PM)Lucky2Last Wrote: [ -> ]Explain.
"Taxes force you to behave the way the government wants you to behave."
(08-27-2022, 02:02 AM)captivating Wrote: [ -> ] (08-26-2022, 11:33 PM)Lucky2Last Wrote: [ -> ]Explain.
https://en.wikipedia.org/wiki/Land_value_tax
Please check the appropriate response;
______ I didn't bother to read the first sentence in the article I posted.
A land value tax (LVT) is a levy on the value of land without regard to buildings, personal property and other improvements.[1
______ I don't understand the difference between land value tax (undeveloped land) and property tax (the value with buildings and other improvements, i.e. what we actually pay every year.)
(08-27-2022, 08:15 AM)Sneakers Wrote: [ -> ] (08-27-2022, 02:02 AM)captivating Wrote: [ -> ]https://en.wikipedia.org/wiki/Land_value_tax
Please check the appropriate response;
______ I didn't bother to read the first sentence in the article I posted. A land value tax (LVT) is a levy on the value of land without regard to buildings, personal property and other improvements.[1
______ I don't understand the difference between land value tax (undeveloped land) and property tax (the value with buildings and other improvements, i.e. what we actually pay every year.)
First you should understand that a land value tax is theoretically ideal.
The you should see that a property tax is equal to a land value tax plus a building tax. Consider the homestead exemptions - because they are equal across the state, similar to how the cost of construction materials and labor are roughly equal across the state. Homestead exemptions make our property tax more like a land value tax and less like a building tax, although both components are still there.
So it should be obvious that a property tax will have some but not all of the beneficial features of a land value tax.
This going to be hilarious when this gets ruled unconstitutional before the end of the year. Biden is just using it to try and get people to vote for democrats.
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(08-27-2022, 08:44 AM)mikesez Wrote: [ -> ] (08-27-2022, 08:15 AM)Sneakers Wrote: [ -> ]Please check the appropriate response;
______ I didn't bother to read the first sentence in the article I posted. A land value tax (LVT) is a levy on the value of land without regard to buildings, personal property and other improvements.[1
______ I don't understand the difference between land value tax (undeveloped land) and property tax (the value with buildings and other improvements, i.e. what we actually pay every year.)
First you should understand that a land value tax is theoretically ideal.
The you should see that a property tax is equal to a land value tax plus a building tax. Consider the homestead exemptions - because they are equal across the state, similar to how the cost of construction materials and labor are roughly equal across the state. Homestead exemptions make our property tax more like a land value tax and less like a building tax, although both components are still there.
So it should be obvious that a property tax will have some but not all of the beneficial features of a land value tax.
Your scope of thought is exceedingly narrow. Homestead exemptions only apply to residential properties in which the landowner is domiciled. Commercial and industrial properties do not share this benefit.
Labor costs do vary significantly by area, even in Florida. States with major metropolitan development, such as N.Y. and California have much larger discrepancies. Again, try to look at the larger picture.
Real estate transactions are impacted by far more that property tax. Capital gains, Federal everywhere and also in many states, property transfer tax, document stamp tax, etc.
(08-27-2022, 10:57 AM)Sneakers Wrote: [ -> ] (08-27-2022, 08:44 AM)mikesez Wrote: [ -> ]First you should understand that a land value tax is theoretically ideal.
The you should see that a property tax is equal to a land value tax plus a building tax. Consider the homestead exemptions - because they are equal across the state, similar to how the cost of construction materials and labor are roughly equal across the state. Homestead exemptions make our property tax more like a land value tax and less like a building tax, although both components are still there.
So it should be obvious that a property tax will have some but not all of the beneficial features of a land value tax.
Your scope of thought is exceedingly narrow. Homestead exemptions only apply to residential properties in which the landowner is domiciled. Commercial and industrial properties do not share this benefit.
Labor costs do vary significantly by area, even in Florida. States with major metropolitan development, such as N.Y. and California have much larger discrepancies. Again, try to look at the larger picture.
Real estate transactions are impacted by far more that property tax. Capital gains, Federal everywhere and also in many states, property transfer tax, document stamp tax, etc.
What point are you trying to make?
The point I'm trying to make is that property tax is the closest thing to a "good tax" that we have.
It could certainly be better.
But income and sales taxes are clearly worse for economic growth and good government than property tax.
Speaking of taxes. Will the free-loaders be taxed on the $10,000.00 transferred from the working class? After all, that is "income".
(08-27-2022, 03:32 PM)jagibelieve Wrote: [ -> ]Speaking of taxes. Will the free-loaders be taxed on the $10,000.00 transferred from the working class? After all, that is "income".
They should. I wonder how many of them will lose other tax credits because their income is too high now.
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(08-27-2022, 03:32 PM)jagibelieve Wrote: [ -> ]Speaking of taxes. Will the free-loaders be taxed on the $10,000.00 transferred from the working class? After all, that is "income".
From what I've read yes anyone that has a canceled debt will pay income tax on it
(08-27-2022, 03:32 PM)jagibelieve Wrote: [ -> ]Speaking of taxes. Will the free-loaders be taxed on the $10,000.00 transferred from the working class? After all, that is "income".
Lol, you do realize that most of the recipients are the Working Class, right?
(08-27-2022, 03:57 PM)The EricC85 Wrote: [ -> ] (08-27-2022, 03:32 PM)jagibelieve Wrote: [ -> ]Speaking of taxes. Will the free-loaders be taxed on the $10,000.00 transferred from the working class? After all, that is "income".
From what I've read yes anyone that has a canceled debt will pay income tax on it
The old bait and switch. I wouldn’t hold my breath waiting for CNN to announce that.
(08-26-2022, 07:49 PM)Jags Wrote: [ -> ]My wife’s student loans have been canceled!!!! Woo woo! But not because of this [BLEEP]. She went and made money and paid them off.
This is how I feel about my medical debt. I have one more payment and that debt is "cancelled". It's been a long road but we paid it all with no help from anyone outside of the hospital's payment plan. I'm thankful for the surgery as it was literally life saving and I'm thankful for insurance but I hope I never ever have to have major surgery again.
(08-27-2022, 03:57 PM)EricC85 Wrote: [ -> ] (08-27-2022, 03:32 PM)jagibelieve Wrote: [ -> ]Speaking of taxes. Will the free-loaders be taxed on the $10,000.00 transferred from the working class? After all, that is "income".
From what I've read yes anyone that has a canceled debt will pay income tax on it
From what I have read there is no federal income tax on student loan cancellation, but state income taxes may apply, depending on where you live of course.
(08-27-2022, 09:32 PM)americus 2.0 Wrote: [ -> ] (08-26-2022, 07:49 PM)Jags Wrote: [ -> ]My wife’s student loans have been canceled!!!! Woo woo! But not because of this [BLEEP]. She went and made money and paid them off.
This is how I feel about my medical debt. I have one more payment and that debt is "cancelled". It's been a long road but we paid it all with no help from anyone outside of the hospital's payment plan. I'm thankful for the surgery as it was literally life saving and I'm thankful for insurance but I hope I never ever have to have major surgery again.
Did your insurance deny your claim?