No. of Recommendations: 4
Sgtjoefriday:

Wow, where do you live that your property taxes rose on 2.5% in three years? It must be in a, well, run down part of the country (forgive me). Our primary residence had property taxes increase by 15% this year and 23% two years ago (northern Virginia). My wife's vacation cottege (in Highlands, North Carolia) had property taxes increase nearly 50% this year plus there was a large increase four years ago (I forget the exact amount). The rise was do to increasing property values and the rates were actually decreased though the end result was much higher taxes. Because of the increased property values, home insurance rates have also soared. Medicare part B rates increased 13.3% this year after increases of 8% for several years before that. Our backup health insurance increased 13.6% this year after an average annual increase of 12.5% for the 7 years before that.

If you think that the wealthy don't put a large part of their fortunes into Treasuries and existing stock, I'm afraid you don't understand the wealthy. Some put a part of their money into new stock issues, corporate bonds, and start ups that may eventually result in corporate growth and stimulative productivity, but that can take many years (for example, more than 10 for amazon.com and how many competitors were ruined while amazon.com was losing money?) and is an iffy proposition for even the most knowledgeable investors.

brucedoe
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