a

[Immortality]

If you can't beat em', join em'....

 

[Skylarking]

... In some parts of the US, there is a land tax of 2% or more percent of the value of your property each year. Basically making ownership essentially renting off the government.

In (parts?) of the US, a lot more is deductible tax wise, even owner occupied interest payments IIRC. As is, different country different tax system and complex/difficult to compare...

Now that countries around the globe have gone into bed with the international ruling class, it reminds me of Mel Brooks in History of the World Part 1... where is sates (multiple times) “it’s good to be king”...

 

[Subju]

a

 

[VS 5.0]

Wealth trickle down?

The only thing that trickles down is a yellow liquid at ~37c.

 

[VS 5.0]

ps: we need a sarcasm gif... or expanded emojis or something

Just end a comment with /sarcasm.

 

[Skylarking]

Imagine having to pay 300 USD per week in land tax, no wonder there are so many foreclosures.

Forced foreclosures occur through an inability to pay ones mortgage. Such occur due to an over commitment or loss of job and for it to be forced, denial and lack of decision mak8mg is at the heart of it.

What seems to be more common in the US is a strategic default where the owner hands back the keys and walks away. Many states are non-recourse state where there is no serious if any consequences of a strategic default by handing your keys back (yes your credit rating takes a hit but that’s recoverable)... Such strategic defaults do frequently occur when a houses worth is less than the outstanding loan amount...

Down under we are stuck with any loan shortfall and thus have to declar bankruptcy which is... not a nice situation unless you are a sociopath...

Regardless, our liberal governments down under seem to be eying a more robust income stream that can provide $$ during downturns... What it means for retirees is more poverty... What it means for home buyers is a higher cost... Cause being a capitalist country simply means the buyer will have $20k to $30k or more available so house prices will simply rise to what the buyer can handle... And those buyers will pay more for their house and be left with a higher land tax as a thank you

Seriously fcuked up government thinking; pound the population so developers costs can be lowered

 

[Skylarking]

Just end a comment with /sarcasm.

Thats so 70’s

Guess giphy. com will always have an appropriate gif but that’s tedious.

 

[Subju]

a

 

[Skylarking]

Having to rent your own house off the government would definitely result in lots of people being unable to pay their loans though. I'm not sure if they have rates like we do but in Canberra already, rates are around $100 per week now

Yep, it’s definitely feeling like they will try and squeeze all the blood they can get from the masses... But those masses get what they deserve by voting these greedy clowns in (who work for the 1%).

An example is those 70 million voting for Trump as he has only his interests at heart. He’ll break democracy and even go to war to get what he wants for himself and his mates... the rest of the masses are his grist for the mill

ps: we’ve gone way off track now

 

[mpower]

We have, back on topic when you do the numbers 91 isn't worth it.