Posted on 01/04/2011 6:16:33 PM PST by Libloather
Sounds like wisdom, to me.
What is it called when you hand the keys to the local government and say “here it’s yours.”
Normally, losing your property due to non-payment of property taxes keeps people in line. But when they have to jack up the rates to pay obligations (like pensions), maybe a lot of people do the arithmetic and figure it is cheaper to walk away.
Let’s say you owned your house free and clear. They decide to increase your property taxes significantly. You decide it’s no longer worth it. Can you legally demolish the house, strip anything valuable, and leave them an empty lot?
“My husband took his retirement at 55 and took the penalty. He put it all in silver and it went up 30% since then. He has other projects that will make a living and we used some of the money for that. That more than paid the penalty.”
I am thinking about doing the same next year,God Willing and continued Good luck to you.
Huh?
...please.
Thank you, I'm here all weekend.
Yes, the government plays it’s part.
But so does the Federal Reserve and it’s fractional banking system.
Here is a link to a youtube that is about 29 minutes long that deconstructs the housing collapse, with a quick history of money. It is actually pretty funny!
The American Dream
http://www.youtube.com/watch?v=Kv2oCXbW4r0&feature=player_embedded
I didn't think so. At least the people who had pensions they no longer get did some work to earn them.
Just not nearly enough work to justify what they are now collecting. Theft by swindle, with public employee unions and dem pols as the primary perps.
my fear is that sure, we'll get the house paid off but then the property tax will force us to sell, or desert.....
a lifetime of work and paying taxes....for what?
For years, I've called it what it really is: "lot rent." They have impoverished us into perpetuity.
the sad thing is we need to kiss that money goodbye. it’s gone, not ours. They are so over their heads in debt they can’t pay us back no matter what.
awesome!
You probably could! I have inherited land with a barn, garage and other old buildings that are heavily taxed for their value. So, we plan to demolish them this year and decrease our taxes. My cousin is leasing the house but as soon as he leaves that is going too.
Check with the taxing authority before doing anything but I think it’s the same thing as would happen if your home caught fire and was completely destroyed. You get to decrease the value of the improvement.
We did the right thing by paying off our home. Taxes are out of sight as it cost us $725/month in school, county, ESD, and dam maintenance! That would be close to my whole Social Security check, haa!
I believe you’re somewhat near by. Any comments?
That thought has certainly crossed my mind.
Where's Moses when you need him?
It would probably be cheaper for the government to return all of what people paid into SS all these years and allow people to invest it elsewhere.
well, of course they have spent it all and then some, but it couldn’t get much worse than it is now.
I am just musing.
Super-hyper-turbo-fuel-injected mega-inflation, here we come. And I am understating it, at that...
People are definitely going to not receive their money. Here’s an idea. Instead of taking it away from the people who worked for it, how about stop giving it to the people who do not!!!! No one under age 65 should receive a dime from the government. PERIOD.
I’ve taken a “loan” out on my 401K and pay off a bill and it also avoids the tax penalty. Of course I can’t borrow more than 1/2 of the total fund (there isn’t much there anyway)
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