From Fast Company:
As the Northeast housing market heats up, Florida’s is cooling down
Researchers at John Burns Research and Consulting (JBREC) publicly released the results from their March survey of real estate agents, and it paints an interesting picture.
It aligns with what inventory data has been telling us for months: There’s some softening of the housing market occurring in pockets of Florida and Texas, where active listings are close to pre-pandemic levels, while there’s still a great deal of competitiveness in tight inventory markets in the Northeast, Midwest, and Southern California.
According to the survey, 94% of resale agents in the Northeast said buyers outnumber sellers in their market. Meanwhile, just 30% of resale agents in South Florida said buyers outnumber sellers in their market.
In most markets, homebuyers still outnumber home sellers.
First a miracle!
Northeast the strongest?
I looked at the estimate of my house on Zillow and Trulia two days ago and I’m just astounded at the price point. Unless you’re moving out of NJ, you’re not selling.
“BMW plans to sell off 20 acres of its North Jersey corporate headquarters”
https://www.yahoo.com/finance/news/bmw-plans-sell-off-20-083007049.html
Yes, scour the landscape some more and build as many box-like pods as possible. Ya gotta love the term ‘mixed-use development’.
The vast majority of mixed use is completely substandard garbage, and the end-result of what is largely a box-ticking zoning exercise. These things will not age well.
We’re going to be having the same discussions about empty mixed-use developments in 20 years as we’re having today with empty corporate campuses.
We’re going to be having the same discussions about empty mixed-use developments in 20 years as we’re having today with empty corporate campuses.
And by that time, the only purposeful use will be to turn it back into a farm.
Yeah, but only in NJ, where celebrities can claim they are farmers in exchange for massive tax breaks.
3b (from yesterday),
Not gonna lie, I can’t stand to look at the debt and think Biden is overspending for sure. But both men know it’s a problem. Yet Trump is talking about extending tax breaks which are estimated to cost 3 billion. Yet every time trickle down is attempted, it is a total failure as nothing trickles down. And the ones that benefit the most are those who are not paying their fair share of taxes because they can afford to exploit loopholes and tax havens that the rest of us cannot.
re: ” I can’t stand to look at the debt”.
It’s not just tax policy there are two sides to the coin.
US Congress and by extension the President have no control over Fiscal Policy and really haven’t since Clinton was President. There simply isn’t a Fiscal Policy one. Right now the U.S. national debt is growing by a remarkable $1 trillion about every 100 days, equal to roughly $3.6 trillion per year.
There is no path forward here other than cutting spending. Debt Interest payments this year alone are about $830 Billion almost as large as the Defense Budget.
I see no way no how we grow or even tax our way out of this.
Farmer Bon Jovi sold his spread and decamped to Florida. He used pay a $104 on 7.1 acres of his 15 acre property, on which he raised honey bees. I don’t blame him the rest of the property was bringing in over $200,000 taxes to Middletown. It costs $$$ to live on the Navesink River that is for sure. Our Governor who does not raise bees and has a smaller lot nearby pays over $200,000 in property taxes too….
Juice,
They can do what local governments do. Extend the term at lower rates. Why not? 80% of them will be dead before the new term ends. Plus, it’s not their money.
Fast: Thr 24 luxury townhouses on Pascack Ave in Paramus are almost done. They are putting g the landscaping in now. They are done in that new sophisticated black and white motif. It’s a busy street , but it is Paramus, and it is Bergen Co.
Lib: Even for those not paying their fair share because of tax loopholes ( approved by politicians), how much of a difference would it make vs the amount of debt and spending in this country.
I think the issue with extend the term at lower rates is a lack of appetite for that paper.
So, had to post this one three times for effect?
“…the ones that benefit the most are those who are not paying their fair share of taxes because they can afford to exploit loopholes and tax havens that the rest of us cannot.”
As I’ve said for over a decade now the last refuge of the intellectually bereft liberal is ‘fair share’. Might as well hang a sign around your neck that says ‘I have no reasoned argument at all on this topic’ and am reverting to subjectivity and emotion.
And please delineate Lib, which exact haven and ‘loophole’ exploitations do the wealthy utilize? Because having actually been legally resident overseas for years including in two of the most notable off shore financial centers I must have missed them…guess my Big-4 accountant sucked.
Fact is this….the United States and Eritrea are the two nations on Earth that tax their citizens on worldwide income no matter where they live or where that income is derived. Yup, that’s how ‘progressive’ we are. Tax policy aligned with an insignificant arid African country with a per capita GDP under $2k.
If you are a US citizen – especially one with substantial wealth – you are out of your mind to utilize tax reduction strategies offshore available to citizens of every other industrialized nation because it is illegal.
Ironic yesterday that you viewed your posts as ‘responses to bullshit narratives’…
I hate it when commentators point to effective tax rates as some grand conspiracy of graft by the wealthy. Muni bonds anyone? How about stuffing money in a Roth?
Anyone can do these things without professional help.
The Roth thing requires some hoop jumping, foresight and external liquidity.
leftwing says:
May 8, 2024 at 9:15 am
which exact haven and ‘loophole’ exploitations do the wealthy utilize? Because having actually been legally resident overseas for years including in two of the most notable off shore financial centers I must have missed them…guess my Big-4 accountant sucked
“Sorry, but Israel has the right to obliterate a country run by terrorists just as much as the United States did to Iraq to eliminate Saddam Hussein (and sell lots of shiny new weapons to any rich Middle Eastern country interested).”
I’d reckon that Israel has more rights, as Saddam Hussein never had “Weapons of Mass Destruction.” It was all a lie.
“6 million Jews were murdered in Europe and the United States didn’t say boo. Even after huge protests by Jews in America showing proof of the European atrocities.”
I’d reckon America profited from this: “Black clearly demonstrates that Nazi Germany employed IBM Hollerith punch-card machines to perform critical tasks in carrying out the Holocaust and the German war effort … Black establishes beyond dispute that IBM Hollerith machines significantly advanced Nazi efforts to exterminate Jewry.”
A tale as old as time: “Follow the money.” And no one is better than doing that then America.
A gallon of GoJo and 80 grit sandpaper can’t get America’s hands clean.
3b,
I read that the owners of that massive apartment complex in Park Ridge raised the rent much higher than residents expected. They basically pulled the rug out from under them and the dwellers are not happy. That’s another angle to these pods being built everywhere. People can’t find or can’t afford a house, are pushed into rentals and then milked for more money. At that point, what other option is there?
New memo to Oaktree clients out today: h**ps://www.oaktreecapital.com/docs/default-source/memos/the-impact-of-debt.pdf
A gallon of GoJo…
Oh man! That reminds me of that Goop stuff I used to use when I was a gas jockey. It has that gritty stuff in it to remove the grim. I love the smell of that stuff! Now I gotta go to Auto Zone!
We’ve gone one further. If you try to open up a bank account as US citizen in Europe, they will laugh you out the door.
BR
We are no longer kicking a can down the road, it’s more like a barrel of radioactive waste with a rusted lid.
Kiddies, enjoy boomer debt!
Hehe.
lol, Chris Cuomo is taking Ivermectin now.
FE,
Yeah, the orange stuff with the pump top. The goop was more like Crisco.
The days before mechanics wore gloves, inhaled asbestos, and sprayed can after can of chlorinated CRC Brakeleen in the tall red can.
When men were men, and sheep were scared.
Fast Eddie says:
May 8, 2024 at 10:32 am
A gallon of GoJo…
Oh man! That reminds me of that Goop stuff I used to use when I was a gas jockey. It has that gritty stuff in it to remove the grim. I love the smell of that stuff! Now I gotta go to Auto Zone!
Well since he is a parasite, if he low doses it maybe his body will become immune so he cannot be killed.
BRT says:
May 8, 2024 at 10:36 am
lol, Chris Cuomo is taking Ivermectin now.
BRT says:
May 8, 2024 at 10:34 am
We’ve gone one further. If you try to open up a bank account as US citizen in Europe, they will laugh you out the door.
America has stolen the “Swiss bank account” and sent it off to South Dakota.
Beat those damn Swiss at their own game. Every despot around the world now prefers South Dakota.
America is very good at helping criminal enterprises flourish.
“People can’t find or can’t afford a house, are pushed into rentals and then milked for more money. At that point, what other option is there?”
The solution for the high cost of housing (whether it’s SFHs or apartments) is to build more housing!
The solution for the high cost of housing (whether it’s SFHs or apartments) is to build more housing!
Yeah, we could, but Biden and Trump would just tariff it. Nimby Karens don’t want to live next to a small house, it would upset Jayden if he had to live next to a Spanish or Black family.
You want cheap? Just let the Chinese do their thing. I could use a 10k car IF MY OWN GOVERNMENT would just keep their grubby mitts out of my purchase rights.
https://www.nytimes.com/2024/05/08/us/politics/biden-china-imports.html?unlocked_article_code=1.qU0.ef9x.-2KFIJaK1xMS&smid=url-share
3b,
You are correct in that it wouldn’t put much more than a dent in the deficit. Obviously, either convincing our government to spend (or graft) less or actually account for their spending is where you would get a huge gain, but today’s government is so in bed with the lobbyists and corporate interests that it will never happen.
Leftwing,
I’m sure you do well (as do I), but we are not wealthy when compared to those with the means to pay their fair share, but do far from it. The argument that the rich wouldn’t be incentivized to earn more (and create jobs) is complete bullshit if they either were taxed slightly more, or actually were forced to pay their fair share anywhere near the percentages of which they should. Their wealth and investment will go to where it can generate the most growth and that would still be here even if they paid the share they were supposed to. As for examples, there are GRATs to get around paying the 40% estate tax, charitable CLATs, which allow you to pass investment gains onto heirs tax-free as long as the principle goes to charity. And of course, there are the Swiss bank accounts and I imagine lots of other places to hide income in the Cyberworld. Last I read and from relatively unbiased sources (you’ll have to trust me on this on), the ultrawealthy pay only 60% of what they are supposed to pay on average. One of the main reasons they get away with it is because the government does not have the resources or the brainpower to fight the legal battles that are necessary to get the ultrawealthy to pay. Quite sadly, the cost of beating them is simply a bad ROI. Luck up how Angelo Mozilo ended up not paying one shiny penny of the millions in fines he was supposed to pay for his part in the Countrywide scandal. The man illegally made billions off of unsuspecting Americans, many who lost their homes, and the US Government could not AFFORD to claw any of it back. The same tactics are used by the ultrawealthy. And it’s not just individuals, but it’s also the corporations that enrich these individuals. I recall, quite a long time ago, the government tried cracking down on Microsoft for their clearly obvious, anti-competitive practices during the browser war. Bill Gates simply threatened to move his headquarters and the jobs they provided 80 miles north to Vancouver from Redmond. Surprise, surprise the anti-trust penalties were dropped.
As you and your MAGA ilk appear to always turn to name calling and personal jabs when someone does not agree with the populist agenda, it’s clear you are attempting to play to the average humans propensity to join the herd. It’s no wonder Trump constantly plays to the “traditional America.” Where women are second class citizens and immigrants existed to be exploited. Gary falls for this with his American Exceptionalism screed. But what surprises me the most is actually you Leftwing. You claim to be anti-establishment, yet you are falling for all this Trump bullshit and responding exactly how a MAGA supporters have been conditioned to respond.
It’s obvious trying to convince someone with strong political beliefs to see another position is futile. I know where you struggle with my position Leftwing is that I am anti-establishment yet can’t support Trump whose whole MO is to supposably be anti-establishment. But I simply can’t support someone who employs the tactics he does to get his way. His endless lying. His placating of the religious yahoos when clearly he is the farthest from a Christian I know. His schoolyard name-calling and threatening everyone who does not toe the MAGA line. He is a pompous bully and lacks any shreds of decency. So to put it simply, and I’ve said this before. If this is what you want to replace the current establishment with. Then I’ll pass and will wait for a real revolution. Not one orchestrated by a gauche, narcissistic egoist who is fooling gullible Americans into blaming their current lots on immigrants and progressive values, while his only real concern and reason for doing this, is to improve his own.
People’s Republic of NJ needs 583 school districts just to segregate it’s people.
Some f’n melting pot that is.
It will take a Tokamak running at full capacity to melt what’s in the pot at the People’s Republic of NJ.
Phoenix,
I also love the smell of that industrial pink liquid soap stuff in public bathrooms. Where do they get that stuff, restaurant supply places?
And yeah, Goop is like a can of crisco with grit and a scent.
“I hate it when commentators point to effective tax rates as some grand conspiracy of graft by the wealthy…Anyone can do these things without professional help.”
C’mon chi, you know the Left playbook by now….
Any law that benefits the Left’s world view is not even questioned…tax code like accelerated 529 contributions, SALT deductions, etc are simply accepted at face value and fully utilized by them.
Any law that offends their myopic world view is not even recognized as law – it is something amorphously and pejoratively called a ‘loophole’ and deemed ‘not fair’.
Typical oblivious self-righteous blowhard drivel by people who feel they have an inalienable right to control your life according to their subjective mores which they arrogantly believe represent some unassailable truth.
Liberals are so predictable, and so detestable.
OC1,
The solution for the high cost of housing (whether it’s SFHs or apartments) is to build more housing!
Geezus, can they build them any faster? There’s a ton going up everywhere.
“Poland Ready to Help Ukraine Return Conscription-Age Men Home.”
Fight those Ruskies so we don’t have to. Hehe.
Fast: I drive by the apartment complex once a week in the evening, and it looks like a lot of apartments are still empty, and most of the stores underneath are empty as well. I think it’s foolish if they are in fact raising the rents, as there are apartments being built all over Bergen Co. the complex on Kinderkamack in Emerson is slow going, but will eventually be finished. And, there are over 1000 new units coming to Paramus as well.
” Where women are second class citizens and immigrants existed to be exploited.
Eunice, get your ass inside and get me a beer! I gotta go talk to this Mexican ingrate and tell him to dig that ditch faster!
“The solution for the high cost of housing (whether it’s SFHs or apartments) is to build more housing!…Nimby Karens don’t want to live next to a small house…”
CNBC on in the background, had the CEO of Redfin on…he commented – apolitically – that ‘Red’ states such as FL that have more lax regulation is seeing more construction and activity than the highly regulated NE States…
Agree with OC1…if one wants to alleviate a housing shortage the solution is obviously to build more housing.
It’s no wonder Trump constantly plays to the “traditional America.”
A time when America was strong and proud and our enemies were beyond our borders, not within them.
“Typical oblivious self-righteous blowhard drivel by people who feel they have an inalienable right to control your life according to their subjective mores which they arrogantly believe represent some unassailable truth.”
You mean like the pro-lifers?
3b,
One of the reasons those retail locations stay empty is because the developers often get one over on unsuspecting town councils who agree to PILOTs that state the owner is not on the hook to begin making their tax payments until all of the retail rented out. Of course, this worked in Montclair on Church & Bloom. The township then awarded the same developer future projects.
Liberals are so predictable, and so detestable.
And so unattractive.
Lib, no time to read that dense paragraph fully now but some high level points…
“those with the means to pay their fair share…”
Yet again, ‘fair’ is not an argument. It is purely opinion. You are doing the equivalent of trying to argue someone that grapes taste better than oranges. It is opinion, and preference.
“…there are GRATs to get around paying the 40% estate tax, charitable CLATs, which allow you to pass investment gains onto heirs tax-free…”
Again, as I state in my post above, it is the LAW. You may not like that law but that would again be your personal PREFERENCE and OPINION. The analogy is feeling a 30mph speed limit in town is ‘fair’ while claiming that a 65mph speed limit on I87 is a way to ‘get around’ the lower speed limit…both are law, like it or not, and I’ll bet you drive at least 65mph on the interstate, not 45mph…
“…there are the Swiss bank accounts…”
You literally have no idea what you are talking about here. Pumpkin-esque fabrication of fact, talking straight out of the asshole.
Boomer Remover,
Wacky Oaktree Debt report.
Wall Street success has always been about bet optimization based on risk of ruin. These are the same strategies us AP videopoker players use. It also explains why so many successful poker players are recruited by Wall Street firms. I didn’t learn anything new by the paper, but it’s refreshing to see someone trying to educate their clients, for a change.
Hey Left,
You see my ADUS? Slow and steady. No brainer.
“How about, there WERE Swiss bank accounts.”
I know this, because of what the Swiss Banks paid HRC when she was SOS to keep those accounts secret. If I recall, the US demanded info on hundreds of accounts. After the HRC speech where she was paid millions, Obama accepted a list of less than 50 names.
So no, not talking out my ass.
Happy for you on ADUS…as I may have mentioned no-go for me…I am ‘o for everything’ on homecare companies and on TX healthcare…personally and professionally. LOL
You like the smaller caps bookmark RUSHA.
“So no, not talking out my ass.”
Uh….debatable…major difference from ‘is’ to ‘were’ regarding Swiss accounts….
And let’s be clear the Swiss bank activity you are referencing is (and was back then) ILLEGAL.
Taking someone breaking the law as an example of a ‘loophole’ makes no sense FFS.
It’s like saying all the urban smash and grab is a ‘loophole’ for the lower socioeconomic classes. Foolish.
That someone breaks a law for a desired outcome does not demonstrate the law itself is ‘bad’…in fact the more reasonable argument is that needing to break a law for a desired outcome indicates that the law is, in fact, constructed as intended…
Libturd says:
May 8, 2024 at 10:52 am
Then I’ll pass and will wait for a real revolution.
https://m.youtube.com/watch?v=AjyHQM6Ph64&pp=ygUWd2hlcmUncyB0aGUgcmV2b2x1dGlvbg%3D%3D
urban smash and grab
“Urban Smash ‘N Grab” –> A franchise is born!
Leftwing,
The laws are bad.
Lib: That may be the case with the Park Ridge development, (also seeing it in Hackensack), but I was thinking more along the lines of there is not a lot of interest in small retail today, as in people not opening small businesses.
“Leftwing, The laws are bad.”
Lib. In your opinion.
And that is all it is…your personal opinion.
Not a truth. Not an absolute. Nothing particularly special about it.
This sounds very “Democratic.” Hehe.
With little debate two years ago, state lawmakers passed a complex energy bill that enabled a sweeping change in how most Californians are billed for electricity.
The legislation was what Pacific Gas & Electric had asked for from the state public utilities commission three months before: a transformation of electric rates so that households would pay a fixed charge each month in exchange for lower rates for each kilowatt hour they used. Gov. Gavin Newsom submitted the bill as part of a massive 2022 budget revision.
In four days, it was passed out of an Assembly committee hearing without discussion, approved by the full Assembly and Senate and signed by Newsom.
But opponents say the legislation was a financial gift to PG&E, Southern California Edison and San Diego Gas & Electric, and will cause millions of Californians who live in small homes or apartments that use little electricity to pay more, while residents in large homes that use a lot of electricity will save money.
Free Trade! Globalism is great! Free Market Economy! NAFTA!
Yeah, sure. Listened to this crap for years. Now America doesn’t want to play in the sandbox? Middle class taxpayers need a break in the form of cheap Chinese goods in order to offset the massive taxation in America. And this is what they do:
Washington is trying to get China out of the EV supply chain, with recent legislation denying tax credits for vehicles that use Chinese components like batteries. On Monday, Li said that geopolitics was having a “big impact” on BYD. “The U.S. is becoming a very protective market,” she said.
Libturd says:
May 8, 2024 at 10:52 am
“Trump constantly plays to the “traditional America.” Where women are second class citizens and immigrants existed to be exploited. ..you are falling for all this Trump bullshit…”
This is what’s known as TDS…
You should be more concerned that the useless, leftist Dems impeached T when he held-up funding to Ukraine (for thoroughly nonsensical obstruction of congress) in order to get them to investigate what have turned out to be completely legitimate corruption concerns about the prior US VP (aka SlowJoe), but that no one bats an eye at Joe’s holding up (congressionally authorized) funding to Israel because he hates Bibi and disagrees with their Gaza policy. But of course TDS’ers like you are more concerned about name-calling.
Impeach him.
Why the fuck would the Rs do that?
Makes no sense, would never clear the Senate.
I wonder if JFK Jr was using the part of his brain the worm ate.
Intellectually makes a point, but it is bloodless. As cold as the stone of Rockefeller Chapel. I want fire and brimstone. Grind the idiots into powder.
Why I Ended the University of Chicago Protest Encampment
Students demanded that we side against Israel, violating the core principle of institutional neutrality.
As president of the University of Chicago, I ended the encampment that occupied the University’s Main Quad for more than a week. The Tuesday morning action resulted in no arrests. Recent months have seen tremendous contention over protests on campuses, including pressure campaigns from every direction. That made this a decision of enormous import for the university.
When the encampment formed on our campus, I said I would uphold the university’s principles and resist the forces tearing at the fabric of higher education. I didn’t direct immediate action against the encampment. I authorized discussions with the protesters regarding an end to the encampment in response to some of their demands. But when I concluded that the essential goals that animated those demands were incompatible with deep principles of the university, I decided to end the encampment with intervention.
Some universities have chosen to block encampments from forming at all or ended them within an hour or so. We had the means to do so. Immediate intervention is consistent with enforcing reasonable regulations on the time, place and manner of speech, and it has the advantage of minimizing disruption. Yet strict adherence to every policy—the suppression of discord to promote harmony—comes at a cost. Discord is almost required for the truth-seeking function of a university to be genuine.
Protest is a strongly protected form of speech in the University of Chicago culture, enshrined in the Chicago Principles for a reason. In times of discord, protest serves as a mechanism for democratic societies, and places of reason like universities, to find a way back toward dialogue and compromise. This has value even if protests result in disruption or violate the rules—up to a point. When a protest substantially interferes with the learning, research and operations of the university, when it meaningfully diminishes the free-expression rights of others—as happened with this encampment—then it must come to an end, through dialogue or intervention.
Therefore, it was a crucial decision whether to seek a dialogue to resolve a disruptive protest. Some will argue that the moral hazard of even holding such discussions is so severe that they should never be undertaken at all—that no agreement could possibly be legitimate if it originated from these circumstances. Others will say such dialogue should always be sought. I believe dialogue may be appropriate under certain circumstances, provided that protesters come to it openly with an understanding that the consequences of their policy violations will be reviewed evenhandedly. The same applies to discipline now that the encampment has ended.
So I authorized the opening of dialogue with the protesters, even though that extended the number of days the university was disrupted. I won’t describe the sequence or the content of those discussions, since we agreed that our exchanges would remain private unless and until we reached a favorable conclusion. During our substantive dialogue, there were some very difficult moments, but also moments of progress. The student-protester representatives offered analytical arguments and made powerful statements; their faculty representatives and liaisons also made important contributions. I believe that the administration representatives showed respect for their interlocutors and came to the discussions with genuine openness and a willingness to look for ways to make it work.
Why then didn’t we reach a resolution? Because at the core of the demands was what I believe is a deep disagreement about a principle, one that can’t be papered over with carefully crafted words, creative adjustments to programming, or any other negotiable remedy.
The disagreement revolves around institutional neutrality—a foundational value to the University of Chicago. It is a principle animated by the idea that authority can’t establish truth for an entire institution dedicated to truth-seeking; rather, it is the imperative of individuals to seek truth without being limited by authority. Institutional neutrality vests freedom of inquiry and speech directly in faculty and students, where it belongs.
Underpinning the demands was a call for the university to diminish ties with Israel and increase ties with the Palestinians in Gaza. In short, the protesters were determined that the university should take sides in the conflict in Israel and Gaza. Other demands would have led to having political goals guide core aspects of the university’s institutional approaches, from how we invest our endowment to when and how I make statements. Faculty members and students are more than free to engage in advocacy on one side or the other. But if the university did so as an institution, it would no longer be much of a university.
As the depth of this philosophical difference became clearer, I decided to end the dialogue. I yielded on some time, place and manner policies and allowed some degree of disruption in favor of protest, regardless of viewpoint; engaged in dialogue with those who were disrupting the university so long as they were prepared to face discipline. But there is no way I would ever compromise on institutional neutrality.
Mr. Alivisatos is president of the University of Chicago.
Two points:
(1) The fact that legal tax avoidance architectures such as GRATs, CLATs, et al. exist is prima facie evidence of confiscatory rates imposed on estates. All that said, and withstanding the statisitcs you quote, there is really very little that can be done to dodge Estate Taxes once you move beyond the exemption threshholds. What you don’t mention is the “loss of control” necessary in order for these schemes to maintain effectiveness. No big deal? Wrong…… losing control of money is an incredible dealbreaker. Why don’t you start a poll? Poll one person…. you… how would it feel to permanently lose control of an asset or money right now?
(2) Define “supposed to pay”? If there is money to be made, the government WILL come after you. Tax rules enforcement is not about morality, it is about money. If you are flouting the law, or pushing too hard against the fine line, the justification for clamping down is a money test….. how much money is spent to receive windfalls from the bilkers.
Libturd says:
May 8, 2024 at 10:52 am
As for examples, there are GRATs to get around paying the 40% estate tax, charitable CLATs, which allow you to pass investment gains onto heirs tax-free as long as the principle goes to charity. And of course, there are the Swiss bank accounts and I imagine lots of other places to hide income in the Cyberworld. Last I read and from relatively unbiased sources (you’ll have to trust me on this on), the ultrawealthy pay only 60% of what they are supposed to pay on average.
The idea that “the rich” aren’t paying their “fair share” is really popular morons and leeches. So Libturd you need to check your premises and ditch the lefts talking points. There will never be a share of taxes that the left will say is fair. They will always bleat that the rich aren’t paying their “fair share”.
Big picture the top 1% already pay 42% of all federal income taxes. The top 10% pay 75% of all income taxes.
Of course the US income tax system is unfair because it represents decades of lobbying for various interest groups. You can cherry pick one thing, I can pick another thing.
Plenty of rich people are paying nearly half their incomes to government. Why is that “fair”?
There are many countries with no inheritance tax at all -Australia, NZ, Canada, Israel, Mexico, Sweden, China, Singapore. They think it’s unfair to take money from other people’s kids when someone dies? Why do you want it?
So what is your position on the issue where the majority of productivity gains have gone to the tippy top, pretty much since the time our government started being bought through PACs. This continuing unabashed will result in a pretty ugly culture in America. I think you are already seeing some of this in the cities where poor people can no longer afford to live, with or without government intervention.
https://img.huffingtonpost.com/asset/5c87c32f360000a61b6b2d4c.png
There are many countries with no inheritance tax at all -Australia, NZ, Canada, Israel, Mexico, Sweden, China, Singapore. They think it’s unfair to take money from other people’s kids when someone dies? Why do you want it?
Some of those countries have no problem taking money from America.
Why do you want it?
The annoying thing about such a response No One is that while the right flouts is fiscal responsibility in this matter, they never actually act on it. I am absolutely certain, if Trump wins, we will still not see his promised health care reform, for example. If he wants to take away insurance for those with preexisting conditions, well then, that dividing line will get much much wider.
According to records compiled by the Tax Foundation, a single person making $16,000 in 1955 — that’s $150,000 in today’s dollars — had a marginal tax rate of 50%; compensation of $50,000 ($470,000 today) moved you into the 75% tax bracket; and an income of $200,000 ($1.9 million today) put you in the 91% tax bracket.
Funny thing, all you needed was a high school diploma, you could buy a house, have a stay at home wife, a car, and have Mr. Wilson as your neighbor.
Boy how times have changed.
Lib,
Everyone has a pre-existing condition, you just have to look for it.
Phoenix
Instead of Mr Wilson you get Karen who has to take her cats to a cat psychiatrist . She can’t understand the cats act up because they hate living in the same space as her. You get the limousine liberal on the other side sipping his Australian wine and snacking on his salad comprised of ingredients from 3 continents while he rails about climate change and carbon, and across the street you have Mr maga complaining about illegals as he gets his lawn mowed, food delivered, and roof replaced by undocumented travellers working off the books.
Rise of personal computing, internet/communication, digitization of information, globalization of commerce across national borders.
What has happened is that the best value creators have the ability to stunningly dominate and become ubiquitous. If you are mediocre, you are doomed unless there is an inability to replicate your value add through location or virtually.
Libturd says:
May 8, 2024 at 5:33 pm
So what is your position on the issue where the majority of productivity gains have gone to the tippy top, pretty much since the time our government started being bought through PACs.
https://img.huffingtonpost.com/asset/5c87c32f360000a61b6b2d4c.png
I’m sure some of you have seen the same You Tube video since we are subject to the same algorhytms….
https://youtu.be/XOYetxiD9EM?si=hUG8RWJRLRTTJ_cN&t=280
“Why the fuck would the Rs do that?
Makes no sense, would never clear the Senate.”
They just impeached Majorkas a month ago! They knew that wouldn’t clear the senate either.
If the R’s had anything on Joe they’d impeach him in a heartbeat- senate be damned.
The left complains about banning by the right, and a woman’s right to abortion, while at the same time supports trans women’s right to compete in college athletics, but they are strangely silent and have been even before Gaza on how Islamic countries treat women ,and Gay/ Lesbian/ Trans people. It seems to be a complete contradiction.
Chgo: Peggy Noonan had a piece last week in the WSJ, where she interviewed students, and pretty much the same, total cluelessness on the part of the students protesting. No awareness of the history, and couldn’t name the river or the sea.
It is one thing to protest the war, it’s another thing to protest about freeing Palestine, when you know absolutely nothing about the history.
“The idea that “the rich” aren’t paying their “fair share” is really popular morons and leeches.”
I bet “the rich” in Russia (circa 1917), France (circa 1789), Cuba (circa 1959), and Nicaragua (circa 1979) were saying the same thing!
Consider taxes a small price to pay to keep the plebes from putting your head on the end of a pike.
“They think it’s unfair to take money from other people’s kids when someone dies? Why do you want it?”
Inheritances should be taxed the same way we tax lottery winnings. And there should be no step up for capital gains.