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

To: Jim McMannis who wrote (72960)	3/4/2007 1:16:43 PM
From: Broken_Clock	Read Replies (4) \| Respond to of 306849

Hawaii has gone the way of a universal sales tax aka General Excise Tax. This tax is on it's face only 4% but in reality it equates to an estimated 13.5-18% sale tax. Why? Because it is levied every time money changes hands in Hawaii. I pay when I get paid, I pay when I buy. The shippers and wholesalers pay when they acquire supplies that I buy. We have fairly low property taxes...about 1% of the property value. So what does this all mean? 1.Poor pay more than rich as a % of their income. Even renters must add on 4% evry month to their rent! 2.Because property tax is low, gov't is targeting it as the next income stream. 3.The gov't(County & State), no matter how much it extorts in taxes, always manages to get into a deficit. Higher taxes or tax changes in allocation sources do not make the gov't reign in their spending. Higher taxes are simply higher taxes.