Good. There's plenty of precedent for us peons - property taxes are a wealth tax. Generational wealth at the scale we see today is fundamentally incompatible with democratic principles. Billionaires are a policy failure.
roosterIllusi0n•35m ago
People did vote for their property taxes to go up when they voted for republicans to cut taxes on billionaires. The republicans did not stop wars, foreign spending, or wasteful spending, they stopped domestic spending on things regular people needed.
Property taxes automatically goes up to cover the missing federal dollars, that is why property taxes are skyrocketing. Republicans cut federal income taxes and made it easier for CEOs to earn unlimited tax free money.
Property taxes have to pay for everything local that back in the 1950s was all taxpayer funded federally because we had a 90% federal income tax bracket and post-1929 financial regulations. Stock buybacks were illegal and CEOs could not pay themselves in stock and bubble the stock price to enrich themselves. When rich people shift money out of pockets of people who pay taxes to their own pockets where they pay no taxes, they defund the entire tax base and property taxes skyrocket. GDP is still at record highs and companies are posting record profits, but CEOs can run these companies so they and their insiders take all the money.
All the protections have been gutted by the republican party. We are back to the late 20s entering a new great depression. Removing the policies that ended the great depression is how you create a new great depression.
cactacea•29m ago
> People did vote for their property taxes to go up when they voted for republicans to cut taxes on billionaires.
> Property taxes automatically goes up to cover the missing federal dollars, that is why property taxes are skyrocketing.
All property taxes in the United States are at the state and local levels, not federal. I don't know what you're referring to.
> The republicans did not stop wars, foreign spending, or wasteful spending, they stopped domestic spending on things regular people needed.
Yes.
> Republicans cut federal income taxes and made it easier for CEOs to earn unlimited tax free money.
Also yes.
> Property taxes have to pay for everything local that back in the 1950s was all taxpayer funded federally because we had a 90% federal income tax bracket and post-1929 financial regulations.
You're losing me again here.
projectileboy•37m ago
The combination of wealth concentration, inflation, unaffordable education and health care, and the annihilation of entry-level knowledge work due to AI has created a crisis that really needs to be better appreciated by the few people that control most of the world’s capital. The society we live in can only exist if most of us buy into the social contract. If it appears to the overwhelming majority that the social contract no longer applies, then this story won’t end well for anyone, superwealthy included.
michelb•13m ago
I think some figure they will die before any negative consequences hits them. And the hardliners are actively working on changing that social contract, where you will have no choice but to comply, because you will have no power. Many dictatorships still live on, in one form or another, with the elite doing just fine.
cactacea•42m ago
roosterIllusi0n•35m ago
Property taxes automatically goes up to cover the missing federal dollars, that is why property taxes are skyrocketing. Republicans cut federal income taxes and made it easier for CEOs to earn unlimited tax free money.
Property taxes have to pay for everything local that back in the 1950s was all taxpayer funded federally because we had a 90% federal income tax bracket and post-1929 financial regulations. Stock buybacks were illegal and CEOs could not pay themselves in stock and bubble the stock price to enrich themselves. When rich people shift money out of pockets of people who pay taxes to their own pockets where they pay no taxes, they defund the entire tax base and property taxes skyrocket. GDP is still at record highs and companies are posting record profits, but CEOs can run these companies so they and their insiders take all the money.
All the protections have been gutted by the republican party. We are back to the late 20s entering a new great depression. Removing the policies that ended the great depression is how you create a new great depression.
cactacea•29m ago
> Property taxes automatically goes up to cover the missing federal dollars, that is why property taxes are skyrocketing.
All property taxes in the United States are at the state and local levels, not federal. I don't know what you're referring to.
> The republicans did not stop wars, foreign spending, or wasteful spending, they stopped domestic spending on things regular people needed.
Yes.
> Republicans cut federal income taxes and made it easier for CEOs to earn unlimited tax free money.
Also yes.
> Property taxes have to pay for everything local that back in the 1950s was all taxpayer funded federally because we had a 90% federal income tax bracket and post-1929 financial regulations.
You're losing me again here.