John Smith wrote on Sep 30^th, 2024 at 7:03am:



A lot of people and businesses use balance sheets, it doesn't have to be some legal form. If you ever had to ask a lending institution for a large loan they will want to know the risk of lending you money. They will add up your assets and liabilities and decide if you are a good or bad credit risk. A balance sheet is a useful tool for that, the interest rate you pay will be based on it. If you bought a home, kept up with the payments and acquired some equity it would be on the balance sheet. In your case it would probably be risky to loan anyone with your lack of financial responsibility money at a reasonable interest rate. 

Mortdooley wrote on Sep 29^th, 2024 at 8:37am:


We don't have land tax on the family home.

If you have more than 1 property you pay land tax for those properties based on value.
Land used for Primary production (farming) is exempt from land tax.

The US has property tax for the family home.
It's a percentage of property value.

Baronvonrort wrote on Sep 30^th, 2024 at 10:23pm:


Oh?

The federal government is generally prohibited from imposing direct taxes unless such taxes are then given to the states in proportion to population. Thus, ad valorem property taxes have not been imposed at the federal level.

If Karmala tried a property tax, it would get knocked back by the courts.

Why do you pretend? You have access to the same sources Mort and I do.

He's just faking.

You?

Karnal wrote on Sep 30^th, 2024 at 11:05pm:



Subject to change at the whim of government. Once it starts the government doesn't want to leave anyone out. Billionaire, millionaires, people with anything of value that can be taxed. Look at how little income tax started out as. I read when it first started people would say they wished they made enough money to be taxed.

Quote:


No, I don't want billionaires taxed this way, it always ends up being passed down and charged to the end user.

Dnarever wrote on Sep 30^th, 2024 at 11:11pm:



Never worked and never will work.

"Trickle down" has not created one single job

Mortdooley wrote on Sep 30^th, 2024 at 11:32pm:


The little income tax never started out as an asset tax on billionaires, Mort, I can assure you.

Presidents don't even do taxes, Congress does. If Karmala was going to get all sneaky with a brand new property tax, Congress would need to write it first.

So I'm curious. Why do you think Mike Johnson's committed to that?

hey mort

have you noticed smith and fisk are completely ignorant 


the United States impose a property tax, also known as a millage rate, as a principal source of revenue.[1] This tax may be imposed on real estate or personal property. The tax is nearly always computed as the fair market value of the property, multiplied by an assessment ratio, multiplied by a tax rate, and is generally an obligation of the owner of the property. Values are determined by local officials, and may be disputed by property owners. For the taxing authority, one advantage of the property tax over the sales tax or income tax is that the revenue always equals the tax levy, unlike the other types of taxes. The property tax typically produces the required revenue for municipalities' tax levies. One disadvantage to the taxpayer is that the tax liability is fixed, while the taxpayer's income is not.

aquascoot wrote on Oct 1^st, 2024 at 12:02pm:


Hey Mort, have you ever noticed how Aquascoot never posts his sources?

If you're wondering why, check this one out. Aquascoot cut out the first part of his source's sentence:

Most local governments in... the United States impose a property tax, also known as a millage rate.

https://en.m.wikipedia.org/wiki/Property_tax_in_the_United_States

A millage rate is a percentage of a property's value, used to calculate what we call local, or council rates - "the required revenue for municipalities' tax levies".

Aquascoot's trying to pretend that's a federal tax on property. That's how far we've descended in the tax debate. On the one hand, we have members posting here to correct lies and disinformation - an essential function in an informed democracy.

On the other, we have posters throwing out random, selectively edited claims to score points - acting to misinform and distract.

Ah, the "narrow road to success". It is a path seldom followed, rarely completed. Who would care to travel such a path?

One with integrity certainly, one who cleves to the truth. A Superior Man indeed - not so much a man as a God.

And then there's the chodes. Lives of pure garbage.

Despicable stuff.