Steve,
The tax breaks you spoke of saved our eonomy. The tax incentives allowed business to invest and grow. The result? We have a low unemployment rate and the federal government is collecting more than it has in the past 10 years in tax revenue.
This seems like a better plan then giving a person money for housing with no incentive to become self supporting.
I am not a millionaire but I don't think you should have to pay a greater % just becuase you have more money.
Steve <[EMAIL PROTECTED]> wrote:
Allan,
WHY Should Multi-Millionaires GET a Tax Break to buy $1 Million Condos? They don't pay their fair share of Income Tax as it is, since Bush gave them a 70% Tax Cut at the Federal Level when he got in, as did Reagan in the 1980's!
That just puts MORE pressure on current owners of both Homes & Businesses!
Don't the People in here GET It?
We already have Corporate Welfare, which costs the US 100 Times what "People Welfare" costs, now we want to give Millionaires "Real Estate Welfare", to make them even Richer, and to burden our Homeowners & Businesses HERE more! If they can't AFFORD the same taxes that everyone pays, they don't deserve to OWN the Properties! We have duel rules here. Give the Rich EVERYTHING ..... For free, but Screw the Poor & Middle Class People!
Steve
--- In [EMAIL PROTECTED]ups.com, Allan Peterson <[EMAIL PROTECTED] ..> wrote:
>
>
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> Steve asburysteve2001@... wrote:
> Wanna talk Tax Ratables? Fishman and our City is giving these super rich persons a 50% Tax Deduction for 5 Years, and a 25% Deduction the following 5 Years! Where will the difference come from ......... YOU, the current Tax Payers! Why should Rich People who pay less than 10% Federal Tax get TAX Breaks on $1 Million Summer Homes?
> You're absolutely correct! In fact, I'll add to it.
>
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> Correct me if I am wrong
> If I was to buy a condo for 500,000 I would be pay tax on a value of 500,000 without the abatement. With the abatement I would be paying tax on a value of 250,000 for that same condo. My home in asbury is worth $450,000 but I am paying tax based on a value of 100.000. Who has the better deal? Until the town is appraised I think the current owners make out better. Especially since the tax per $100 is so high in Asbury.
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> Am I missing something? Seems to me that this was a needed step inorder to sell the units Otherwise they would be taxed too high.
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