Ending Deductions IS Raising Taxes -- We're Not Fooled!

21 Nov 11 | Xzins

[ontap]

First none of my comments are directed at you personally! The renter is analogy is not a factor to me unless a law was passed give them a “renters deduction” which may sound outrageous but bear in mind we now refund money in the form of a “tax refund” to people who pay no taxes.
I agree with you on property taxes being to high,but who other than the owners else are going to pay property taxes.
Once we have a group of people who benefit from something they contribute nothing to this is what we get. The only way to make taxes fair is to make sure everyone contributes something!!

[xzins]

I agree, ontap, that your comments have not been personal. You have been very gracious in this conversation, and I’d gladly discuss with you anytime.

The problem with property taxes (at least in Ohio) is that many people don’t own property, so they simply don’t pay property taxes. And the property tax in our state is the lion’s share of school funding. IOW many people receive the benefit of education for their children, but they don’t contribute a dime.

Business deductions, though, are huge, and rental property owners do factor that into the amount of rent they charge.

[ontap]

Renters a levied property taxes through their rent in that landlords aren’t stupid enough not to add it to their rent. Problem is most renters aren’t smart enough to realize they are paying taxes by proxy so they see a tax increase as not affecting them. I agree that property taxes are to high but then again I think all taxes are to high. I’m retired so I’m experiencing the fixed income blues with all the price increases. One really has to get creative.

[Kellis91789]

And yet ... my 2002 Lexus RX300 cost me $40K, but a 2012 RX350 is still $40K. Zero inflation over a ten year period.

My 38” tube HDTV was $1500 in 2002, but a better 50” Plasma HDTV today would cost $800.

Anybody can find particular items that have gone up or down in price. Looking at just a few items tells us nothing. That’s why there is supposed to be a “basket of goods” used to measure inflation.

[Melchior]

I certainly understand the basket of goods concept. I do not, however, understand why food items were excluded from that basket, which as I understand it is only a recent development.