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-   -   Wealthy Americans Avoided Paying Income Tax (https://gfy.com/showthread.php?t=1070028)

BlackCrayon 06-01-2012 04:53 PM
Quote:
Originally Posted by Robbie (Post 18981295)
I wasn't "spinning" anything. Renters do NOT pay their fair share. No fucking way. A guy who owns properties is responsible for all the property taxes for those properties and ALSO for his own home.

And in many states...there is also a yearly property tax on cars, boats, rv's, motorcycles, etc. The more money you have...the nicer your cars and home (fruits of your labor) and the more money you pay in with property taxes.

Not only that...but MANY people live in govt. assisted housing.

As I said earlier. When I rented and just played in my band for 20 years...I was pretty much carefree.
My apartment was furnished with utilities included for $500 a month down in Fla.
Later I rented a townhome in Myrtle Beach, SC for $500 a month unfurnished and had to pay utilities.
Then rented in Columbia, SC for $250 a month.
Rented a nice house with a big yard for $600 a month in Greer, SC

Then I got in the porn biz and started buying property and my own home.

Please believe me when I tell you it is MUCH MORE EXPENSIVE.

Go out and buy your own home and you'll see. And the worst part is? With property tax, you NEVER really own your own home.

Even if you paid it off 100%. If something happens in your life where you can't pay the property tax...the govt. will TAKE your home. :(

Spinning.

Right. The only people "spinning" are the govt. They want to keep those nice jobs with the great benefits. In my opinion...there doesn't NEED to be a "city hall" Let those motherfuckers get REAL jobs and work for the city part time.

Govt. is the biggest "industry" in the world. Your local govt. handles more money than any other business in your city. Your county govt. handles more money than any biz in your county. Your state govt. handles more money than any biz in your state.
And the feds trump them all.

And they set it up in a way that WE are arguing with each other instead of looking at what the govt. is doing. :(
I can agree that income taxes are a fuck job but think that despite people who earn less, pay less it hurts them just as much as rich, if not more. and i don't know when the last time you rented was but here in canada, things are much different. i own now but a couple years ago was renting a 3 bedroom townhouse built in the 70's for 1200 a month. thats not far off as a mortgage for 275-300k home.

epitome 06-01-2012 05:47 PM
Quote:
Originally Posted by Robbie (Post 18981295)
I wasn't "spinning" anything. Renters do NOT pay their fair share. No fucking way. A guy who owns properties is responsible for all the property taxes for those properties and ALSO for his own home.

And in many states...there is also a yearly property tax on cars, boats, rv's, motorcycles, etc. The more money you have...the nicer your cars and home (fruits of your labor) and the more money you pay in with property taxes.

Not only that...but MANY people live in govt. assisted housing.

As I said earlier. When I rented and just played in my band for 20 years...I was pretty much carefree.
My apartment was furnished with utilities included for $500 a month down in Fla.
Later I rented a townhome in Myrtle Beach, SC for $500 a month unfurnished and had to pay utilities.
Then rented in Columbia, SC for $250 a month.
Rented a nice house with a big yard for $600 a month in Greer, SC

Then I got in the porn biz and started buying property and my own home.

Please believe me when I tell you it is MUCH MORE EXPENSIVE.

Go out and buy your own home and you'll see. And the worst part is? With property tax, you NEVER really own your own home.

Even if you paid it off 100%. If something happens in your life where you can't pay the property tax...the govt. will TAKE your home. :(

Spinning.

Right. The only people "spinning" are the govt. They want to keep those nice jobs with the great benefits. In my opinion...there doesn't NEED to be a "city hall" Let those motherfuckers get REAL jobs and work for the city part time.

Govt. is the biggest "industry" in the world. Your local govt. handles more money than any other business in your city. Your county govt. handles more money than any biz in your county. Your state govt. handles more money than any biz in your state.
And the feds trump them all.

And they set it up in a way that WE are arguing with each other instead of looking at what the govt. is doing. :(
you're using examples from years ago. Not only am I a licensed real estate agent, I owned a property management company back in Maryland. I did all of the leasing, collected the rent, had repairs done, paid taxes and sent what was left over to the owner. Very rarely were they not getting a check. Sounds like you are not too smart of a landlord if you're getting screwed, or you should have hired me since apparently I knew what I was doing and you must not.

Due 06-01-2012 07:54 PM
Quote:
Originally Posted by Robbie (Post 18976773)
I wonder how much she paid the state in property taxes, business licensing, and fees? Probably more than 100 "normal" citizens all put together.
Or taxes for employing people. As well as unemployed taxes for the people you do not have on payroll. Seems like the extra rate you gotta pay on top of a normal payroll is about an extra 10%

Robbie 06-01-2012 09:05 PM
Quote:
Originally Posted by epitome (Post 18981409)
you're using examples from years ago. Not only am I a licensed real estate agent, I owned a property management company back in Maryland. I did all of the leasing, collected the rent, had repairs done, paid taxes and sent what was left over to the owner. Very rarely were they not getting a check. Sounds like you are not too smart of a landlord if you're getting screwed, or you should have hired me since apparently I knew what I was doing and you must not.
Yeah...that's it. You're obviously far more successful in life than I am and know much, much more...oh wait a minute. You had a job as a real estate agent. "Nuff said. heh-heh

Socks 06-01-2012 09:12 PM
And as for the 21,000 wealthy Americans who currently pay no income tax, Williams said, "Under Obama's plan, these people would almost certainly pay more. Under Romney's, they will almost certainly pay less."

Pay less than... nothing? How does that work.

Robbie 06-01-2012 09:27 PM
Quote:
Originally Posted by Socks (Post 18981578)
Pay less than... nothing? How does that work.
I don't know, but sign me up! heh-heh

These reports say they pay nothing. I say "bullshit". They are either paying personally or through their company straight up. And of course the aforementioned property, local, county, and state money being stolen...er, I mean taken....er, I mean taxed on them.

I think we should have a flat tax. 15% would do the trick.
If I make $100,000 I pay $15,000 in taxes. No tricks, no accountants.
If I make $1,000,000 I pay $150,000 in taxes.
I I make $50,000 I pay $7,500 in taxes.

Everybody contributes. The rich pay a LOT more obviously and get no more "services" (lol) from the govt (and probably a lot LESS since they don't leach off the public dole)

Nobody gets away with paying nothing. And revenue rises.

Of course you could tax everyone 100% of what they make and it still can't keep up with govt. spending. That shit has got to stop.

Due 06-01-2012 09:37 PM
Quote:
Originally Posted by BlackCrayon (Post 18981345)
I can agree that income taxes are a fuck job but think that despite people who earn less, pay less it hurts them just as much as rich, if not more. and i don't know when the last time you rented was but here in canada, things are much different. i own now but a couple years ago was renting a 3 bedroom townhouse built in the 70's for 1200 a month. thats not far off as a mortgage for 275-300k home.
My mortgage is about 1600 / month, I have a 3.75% APR interest rate (which is is nearly impossible to beat). Total after taxes it is about 2400 / month for just taxes and the mortgage.
We build the house last year, last month I got a suplemental tax bill for about 1500 for proberty value increase or something like that.
On top there is trash, HOAs and all the regular maintenance.

I would love to see where you can get buy a 300K house and pay only 1200 / month. I would probably reconsider investing in real-estate if that is possible.

Robbie 06-01-2012 09:47 PM
Quote:
Originally Posted by Due (Post 18981598)
My mortgage is about 1600 / month, I have a 3.75% APR interest rate (which is is nearly impossible to beat). Total after taxes it is about 2400 / month for just taxes and the mortgage.
We build the house last year, last month I got a suplemental tax bill for about 1500 for proberty value increase or something like that.
On top there is trash, HOAs and all the regular maintenance.

I would love to see where you can get buy a 300K house and pay only 1200 / month. I would probably reconsider investing in real-estate if that is possible.
And that is reality. And a tremendous interest rate! You did good!

Mine is 7.5% (bought my house right before the market crashed). My mortgage is $4,651 a month. Plus $120 for HOA. It's crazy. And then I get taxes thrown at me from every direction :(

Robbie 06-01-2012 11:03 PM
Hey epitome...sorry for coming off like a dick in my last reply directed at you. Got caught up in the moment of the discussion. Didn't mean to be a disrespectful jerk. :(

BareBacked 06-02-2012 07:44 AM
Quote:
Originally Posted by Due (Post 18981598)
My mortgage is about 1600 / month, I have a 3.75% APR interest rate (which is is nearly impossible to beat). Total after taxes it is about 2400 / month for just taxes and the mortgage.
We build the house last year, last month I got a suplemental tax bill for about 1500 for proberty value increase or something like that.
On top there is trash, HOAs and all the regular maintenance.

I would love to see where you can get buy a 300K house and pay only 1200 / month. I would probably reconsider investing in real-estate if that is possible.
What $800 a month in Tax on a APPROX $300k loan ? ? Where on earth do you live?

BlackCrayon 06-02-2012 09:12 AM
Quote:
Originally Posted by Due (Post 18981598)
My mortgage is about 1600 / month, I have a 3.75% APR interest rate (which is is nearly impossible to beat). Total after taxes it is about 2400 / month for just taxes and the mortgage.
We build the house last year, last month I got a suplemental tax bill for about 1500 for proberty value increase or something like that.
On top there is trash, HOAs and all the regular maintenance.

I would love to see where you can get buy a 300K house and pay only 1200 / month. I would probably reconsider investing in real-estate if that is possible.
my mortgage for 290k (the amount after downpayment) is about 1600 a month and thats with property taxes. property taxes depend on the size of land, location, etc so it can be different for everyone. please note that i said *almost*, not that it was exactly the cost of a mortgage for a 300k home. my interest rate is 3.32. you're still better off, you got a brand new home for 300k? around here you'd either get something small or resale for that. of course its more expensive to own but you can also build equity and sell for more depending on the market. i see townhomes around here bought in 2006 for 220k now going for 300k. you can't do that renting.


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