Quote:
Originally Posted by RIJIMMY
Jim, dont forget - .renters live in houses owned by someone. Those property taxes still get paid
If the deduction went away, banks may be forced to revise their mortgage policies. The payoff - interest first process to me is pure roberry.
Just discussing both sides. I dont really have a stong opinion on it and it would hurt my $$$ too.
|
"renters live in houses owned by someone. Those property taxes still get paid"
But not as much tax revenue is collected. If you have an apt building with 100 apartments, the guy that owns the building pays taxes. But if all those people move out and buy 100 homes, much more tax is collected. A home generates more property tax revenue than an apartment.
RIJIMMY, I was in the USMC, and as such, I was on the public dole. SO I see the value in everyone paying their fair share. But before we discuss tax increases, THERE IS SO MUCH WASTE that could be eliminated. I believe that if we were smart with efficiencies, we could LOWER taxes further, but still have enough revenue to pay for public costs. Just a hunch, I have nothing to base that on.