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To: Partisan Gunslinger
"No property tax and we would be back to serfdom. The rich could buy all of the land and then never sell causing the rest of us to be renters and hired hands all our lives. There would be no incentive to make the most of the land"

I'm not sure that's not our future anyway with so much foreclosure. The gubmint owns 80% of the mortgages so they will own all the foreclosed houses.

My kids are all convinced that home ownership is the worst investment they could make & I think that may be the reaction of the recession generation.

I can't blame them for thinking that with what they've seen the last 5 years, but how tragic for the nation if we go from "everyone should own their own home" to no one under 30 buying a home.

I can't argue with them but I want to. It's just so sad. We're planning to sell our house while we still can & either rent or buy unimproved land & go off grid just to get out from under the mortgage. I'm far more scared to become a renter again than I was to become a home owner.

101 posted on 06/13/2012 1:52:17 AM PDT by athelass (Proud Mom of a Sailor & 2 Marines! On Wisconsin! Mittens can start attacking Obama now.)
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To: athelass
I'm not sure that's not our future anyway with so much foreclosure. The gubmint owns 80% of the mortgages so they will own all the foreclosed houses. My kids are all convinced that home ownership is the worst investment they could make & I think that may be the reaction of the recession generation. I can't blame them for thinking that with what they've seen the last 5 years, but how tragic for the nation if we go from "everyone should own their own home" to no one under 30 buying a home. I can't argue with them but I want to. It's just so sad. We're planning to sell our house while we still can & either rent or buy unimproved land & go off grid just to get out from under the mortgage. I'm far more scared to become a renter again than I was to become a home owner.

I know what you're saying and I've thought about this a lot. I'd like to see tax reform where we have just two main taxes, 10% income and a floating acreage tax. The government would be constitutionally limited to ownership of 8% of the land. This would open up a lot of government land to private ownership. The other 92% of the land would have an acreage tax floating to where 1/10 to 1/3 of one percent of the land would go unsold due to the tax rate. That would mean that there would always be land available to be bought at near 0 dollars, just pay the tax rate. Since scrubland would determine the rate, the price of land in some places would be very low for a family just starting out on one lot (1/3 of an acre). They would be financially free to build, and buildings would not be taxed.

The bottom line is our taxes and fees we have currently is skewing all parts of our lives.

112 posted on 06/14/2012 6:30:58 PM PDT by Partisan Gunslinger
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