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Politics : Bill Clinton Scandal - SANITY CHECK -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (4204)	9/21/1998 2:09:00 PM
From: mrknowitall	Respond to of 67261

Michell <<OT>> "If you are 50 and own a house that you bought 20 years ago, and I am 27 and I buy that same house, my first house presumably, I will pay at least 10x the taxes on that house." What you're forgetting to add to the equation is that you will probably not live in that house long enough to pay 10x. You are upwardly mobile with greater potential for greater earnings in the future and will probably move several times in the next 20 years. You're still blaming the victims of a tax inequity that they had no hand in creating. The new law is making adjustments for that unfairness, and has created yet another apparent inequity. But that still shouldn't give you the right to place a claim on their property just so you can live in Silly Valley. Mr. K.

To: Lizzie Tudor who wrote (4204)	9/22/1998 1:10:00 AM
From: Zeuspaul	Read Replies (3) \| Respond to of 67261

OFF TOPIC If you are 50 and own a house that you bought 20 years ago, and I am 27 and I buy that same house, my first house presumably, I will pay at least 10x the taxes on that house Your numbers do not hold up and neither does your logic. Here in Southern California a 3X difference is more like it. I cannot believe that Northern California has had more than 10X appreciation in twenty years. Correct me if I am wrong , I think your first comparison was $10000 tax vs $200 tax which is 50X which is total nonsense. I did buy a house 20 years ago for $54,000 the taxes were $500+/-. Why would I want to keep that house until I retire? It was a two bedroom 900 SQ FT matchbox. Most people do not buy a house and live in it until they die. Most people buy a house and then sell it when they can afford a nicer house. I sold the house three years ago ( after its value had dropped from $220,000 to $159,000 ). The new home owner pays $1600 in taxes which is only three times what an original owner ( 20 yrs ) would be paying if they decided to rough it out. I get the same deal as you with my new house. I purchased it three years ago. The house is 2400 SQ FT ( 3X times the size of the old house ) and cost $300,000. The taxes are $3000 which is still not 10X the taxes on the matchbox I bought 20 years ago. I am part of the boomer generation. Who is going to support me? My parents generation ( the current elderly population) has the benefit of a large working boomer generation that can support a social security system in its current design. There is no way that your generation will be able to support my generation as my generation supports the current elderly generation. My option...Work until I die or close to it. Why would I want to burden my twenty year old son and his generation? You are too pessimistic. You seem to think that generations before you have some kind of silver platter and now you want to take it from them. I won't go into what I had to go through to get where I am but I can assure you it was not a cake walk. There are still many opportunities for all. You do not need to step on someone else's good fortune to get ahead. If you attempt to change the current tax assessment system you will raise everyone's taxes including your own with the $ going into a black hole. Sure there may be better ways but it ain't gonna happen. You will implement another tax system that will also have inequities but it will be at a much higher tax rate. The money will go to waste and abuse. _____________________________________________________________ What we should do is find a similar ( better) way to impose fiscal responsibility on those who implement the social security system. Any private pension fund that operates like the SS system would be shut down. It's criminal IMO. Regards Zeuspaul