Dan - You are right that property taxes hit savings. That is a downside I hadn't thought of. Nevertheless, I think wealth needs to be taxed as well as income.
Mark Anderson Bancroft ----- Original Message ----- From: "Dan Prozinski" <[EMAIL PROTECTED]> To: <[EMAIL PROTECTED]> Cc: <[EMAIL PROTECTED]> Sent: Tuesday, December 17, 2002 9:12 AM Subject: [Mpls] Infernal Revenues > I agree Jim. Another example, two people earn the same over their > lifetime. One lives high - gambles and travels, one is frugal - buys and > maintains a home. Why is the second person punished for being thrifty? > > Dan Prozinski > Cedar Riverside > > > From: "Jim Mork" > > > Property taxes do hit wealth. Two problems I see > > with property taxes. (1) A hot property market > > can force your "wealth" to somewhere you don't > > want it to go, as in doubling the price of your > > house when you have no INTENTION to sell it! (2) > > Though you might in THEORY get "wealthier", the > > city wants it in cash, and if you can't or won't > > sell, you might not HAVE any more cash than you > > had before. This hurts the elderly who have no > > more cash flow but who have become wealthier on > > paper. This is a major reason people come to > > resent this "wealth tax". It is forced on them > > when they are least able to handle it. > > _______________________________________ > > Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy > Post messages to: mailto:[EMAIL PROTECTED] > Subscribe, Unsubscribe, Digest, and more: http://e-democracy.org/mpls _______________________________________ Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[EMAIL PROTECTED] Subscribe, Unsubscribe, Digest, and more: http://e-democracy.org/mpls
