Trading wars impact


#1238

Prop 13 reduces income gap and reduces wealth gap. Without prop 13, many middle class folks will not be able to afford a home. Wealth will go to the 1% who will own 90% of the housing and almost everyone would become tenants.

High income tax has also reduced wealth gap. It taxes the high income professionals and provide food and housing for low income people.

Since housing is a human right, we should abolish property tax and replace with even higher state income tax. (Not my opinion)

Even better, abolish property tax, abolish sales tax, abolish gas tax, replace all the lost revenue with higher income tax. Let the tech workers pay 65% of the salary to the golden state treasurer (don’t shoot messenger).

Do you want lower income gap and lower wealth gap? Do you want a higher income tax?


#1239

Mexico, Russia and many other countries do not have property taxes. The are regressive and counter productive. A VAT and income taxes are more fair


#1240

Too much rights for individuals !!!
The only reason why government wants to achieve near 100% home ownership is because it creates vested interest of protecting the neighborhood hence the nation.


#1241

Property tax is really bad idea. If she lives in her own home, why should she pay to all of us? She could be a 95 year old who lives on social security. She wished to live in her home until the end of her life. Do you require her to pay $35k property tax when her total income is $20k from social security?


#1242

Property tax is a legacy of the imperialism where the monarch owns all lands :slight_smile:


#1243

Property tax is confiscation, especially in Texas at 3%, the state has taken the value of your down payment in just 7 years. Pure evil.


#1244

So property tax is not needed anymore when everyone is allowed to own homes and majority of the Americans are homeowners.

We should abolish property tax. Replace it with income tax. If you really want, you can charge a stock tax on portofilios over $100k. Only 5% of the population have a $100k portfolio. I like to spare you stock investors, but if you keep pushing on prop 13, I’ll leak the news that stock tax and no property tax. Guess what the voters will vote? I’ll keep your secret if you cooperate


#1245

No worries, I won’t be around.


#1246

Hopefully me too…:smiley:


#1247

I will be chilling in Singapore.


#1248

you mean baking in Singapore :smiley:


#1249

Wow, no one wants to pay a stock tax but everyone wants a property tax. And some people want more property tax.

Stock tax would be very effective to reduce income gap and wealth gap


#1250

Do you want to live a long life or a short one? Don’t make your life short just to escape the stock tax


#1251

Switzerland has a 1% wealth tax


#1252

LKY once said the biggest invention of all time is air conditioning. :sunglasses:


#1253

That’s fake news. Since prop 13, property tax revenue has increased faster than income tax revenue. You can look at local government budgets. They are increasing 5-8% a year, but they all say they have a revenue problem. SF has a $10B budget. Look at how it ranks among US cities and remind me again why there’s a tax revenue problem?


#1254

:scream:

Mobius Says Trade War Is Just a Warm-Up Act for Financial Crisis

https://www.bloomberg.com/news/articles/2018-07-11/mobius-sees-trade-war-as-just-a-warm-up-act-for-financial-crisis


#1255

All I know is that it is not in my control !


#1256

Who is Mobius and why should I listen to him?


#1257

You’re not staying in a GCB with a swimming pool? And move from one air-con place to another air-con place, exposing to the heat for a couple of seconds :slight_smile: