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URL:  https://boards.fool.com/intercst-most-americans-pay-property-taxes-on-19683050.aspx

Subject:  Re: Repubs vs Dems Date:  10/8/2003  10:57 AM
Author:  telegraph Number:  126684 of 882435

intercst: Most Americans pay property taxes on their home each year. In most jurisdictions, property taxes are assessed based on the value of the home which makes it basically a "wealth tax". Bill Gates isn't paying a "wealth tax" on the value of his MSFT shares.

And most folks demand services for their home, including but not limited to:

1) roads to get to and from their house
2) fire and police protection
3) zoning regulation and enforcement
4) building codes and inspections
5) animal control/pest control
6) garbage collection
7) regulation/permitting of utilities and utility rights of way
8) Parks and recreation facilities, public buildings/meeting facilties
9) waste disposal - tree removal - litter pickup -
10) water supplies, or regulation thereof of private systems....
11) sewerage systems

I leave the 'education' part out since that can be local or state based, and based upon real estate taxes, sales taxes, state income taxes, corproate taxes, misc fees, etc. franchise taxes, or a combination of all of them....


Last I checked, owning 'stock', other than a gov't function of the SEC to insurce proper financial reporting to investors (well, hopefully for the most part), doesn't require the above.......no sewer system or water supplies or 'highways' to your door or driveway.....no one to catch rabid dogs, or spray for West Nile virus laden misquotoes...

Or owning other assets, such as gold or silver or overseas land or otherwise......requires none of the above.....

SO if there is 'cost' of maintaining an asset, why shouldn't it be paid yearly?

If there is no 'cost' , then why should there be a 'wealth tax'? (and your mutual fund will skim off some 'tax' if you will for fund expenses each year....as a 'fee'....for their costs of maintaining your investments, should you have funds).....

And even renters pay 'real estate taxes' indirectly through their monthy rent checks, as the apartment needs roads and police services and fire protection and spraying for misquotoes.....

T.



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