Comments by "" (@hewitc) on "Some states look to eliminate property taxes" video.

  1. It would be replaced by a higher income tax. Much higher.
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  2. In fact that happened in 2007-2010
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  3. We will write a law just for you!
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  4. When you retire you pay more taxes on the money that was already taxed? I'm confused. IRA's are pre-tax contributions to an account that is not taxed until you withdraw the money. It's a tax deferral that lets you accumulatee earnings without paying taxes until withdrawal. Are you talking about non-IRA savings? The money is taxed when you receive it, as income. If it generates earnings those are taxed. Where is the double tax?
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  5.  @e.williams13  There are many homes in Palm Beach Florida paying close to or over $1M per year in property taxes
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  6.  @femalewarrior125  Some house pay $1M or more in tazes, especially beach front. $1M every year. The also pay over $20K/mo. for water to irrigate the palm trees and lawn. Florida is expensive.
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  7.  @markkasprzyk3287  right. The tickets and parking fees are already collected but more is necessary. You need to do the budget. Even with the fees you mention and property taxes many municpalities cannot afford the services the residents demand.
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  8.  @davidk4860  They need a way to have residents pay for the services, like schools, police, fire, public works, etc.
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  9.  @RFSpartan  It's a perfect example of why socialism is a good thing.
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  10. That's why older people downsize. They usually don't need all the space anymore and the taxes keep going up. So they sell and move to something more modest. It's extremely common. If you don't do it you risk losing the home. Actually the home is sold and the town gets the bcack taxes and the owner gets the rest of the money.
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  11. what rent?
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  12.  @BwInNewJersey  The police here are making close to $200K. For some reason there is always more "overtime" than actual work hours. And unlike most Americans they have pensions that are a fixed by their last year of pay, which always has more "overtime" than you can imagine anyone able to work. Teachers should try to get a deal like that.
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  13.  @mohammadmursalin6817  You know nothing about this subject. These are local taxes, not federal income taxes. Looks like you must pay neither to be that ignorant.
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  14. sounds like the incerased tax burden made your home less valuable, less attractive to buyers. Your community must have had bad fiscal problems in that period.
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  15. Selling would be a smart move!
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  16. Long Island has very good schools and highly paid cops and fireman. don't forget sanitation and snow removal.
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  17.  @SigFigNewton  You don't get schools, police and fire protection for free.
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  18. I know where. My real estate tax bill shows where the money goes.
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  19. Like homesteading in Florida. It caps increases on taxes. But it means the person who bought 10 years ago is being subsidized by the new buyer. Two house both worth the same only one pays $10K/yr the other pays $30K/yr to fund the town's services.
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  20.  @DaveP-uv1ml  or black people voting.
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  21. In Florida you can Homestead your primary residence. That limits the amount of increases in taxes every year. In results in new homeowners subsidizing older home owners.
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  22. I've done it my whole life. And I have never had a fire or a break in. So why pay for police and firemen? It's part of living in a society.
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