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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (26302)	12/29/2004 7:42:04 AM
From: jrhana	Read Replies (1) \| Respond to of 306849

Those figures are really not that outlandish. Any figures on how much taxes the super rich (the people who inherited their Billions or married into them ala Kerry) pay and how much income they are able to shelter from their taxes? And how much income and wealth they have that does not even appear due to super compex accounting put together by their super high priced tax lawyers?

To: Elroy Jetson who wrote (26302)	12/29/2004 12:48:40 PM
From: John Vosilla	Respond to of 306849

Do you sense the shift of the tax burden to the local level as being bad for those who are not at the top of the income spectrum as I do? It can be confusing since the raising millage rates for all should in theory make the well off shoulder a bigger share of the tax burden since, in your words, they never sell their real estate until death. But they still get away with it on their homestead in many states because of the cap. Also their assessed values are usually at a fraction of market. The lower you go on the value scale the smaller the gap between market and assessed value until you reach the lower end with assessed valuations between 85-100% of market value.