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To: Libloather

While ending the income tax is good, ending a different tax could be groundbreaking.

That is, under very limited circumstances, they should eliminate the property and inheritance tax.

First of all, it would have to be the primary dwelling, and people would have to live there 6 months plus one day each year to qualify. It would have limits as to how large the home could be, and how much of a lot it could have, and how many other buildings there were on the property.

None of it could be rented or leased to others. And if it was exempt from property taxes, it was also exempt from inheritance taxes.

If someone owned more than the maximum sized house, or it was on a larger than acceptable lot, or other variances of the criteria, they would have to pay the taxes just on that or those extra parts.

Finally, like the state of Florida, people could not lose their primary dwelling to bankruptcy.


16 posted on 12/18/2013 5:21:21 PM PST by yefragetuwrabrumuy (Last Obamacare Promise: "If You Like Your Eternal Soul, You Can Keep It.")
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To: yefragetuwrabrumuy

Inheritance tax is part of the federal income tax code ... so it would go away under a federal income tax code repeal ;)

Property tax is local, not federal. But being a homeowner I would sure favor eliminating property tax in my municipality in favor of a consumption based tax... especially since my area has more visitors each year than Disneyland!


29 posted on 12/19/2013 5:47:32 AM PST by Principled
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