Posted on 07/13/2020 12:52:58 PM PDT by knighthawk
Homeowners, beware.
State and local governments scrambling to raise money during the economic crisis caused by the coronavirus pandemic are looking to increased property taxes -- as well as wealth taxes and more -- to fill budget holes.
The proposals come as officials are trying to strike a balance. Historic job losses caused by lockdowns fueled the downturn that's put the squeeze on city and state budgets. Washington sought to offset this with stimulus payments, additional unemployment benefits, business grants and more. Any push to raise taxes too dramatically could hurt the economy even more.
(Excerpt) Read more at foxnews.com ...
Boil the frog too hot, and they jump out of the pot. ;-)
“Homeowners, beware.” renters need to be aware too. I would pass the extra cost down by going up on the rent.
Screw all of your suffering for our leadership. Pay more money to keep more incompetency employed! Screw you economic circumstances!
So the arsonist would like the homeowner to pay for the damages. Good deal.
” I would pass the extra cost down by going up on the rent.”
How will you do that when the Government also says you can’t evict for non - payment?
Only if you make the water too hot too fast, like a 34% property tax increase all at once.
Unfortunately, this increase in taxes will stop the regentrification process going on in our cities and they will be left to rot, thus reducing tax revenues, requiring tax increases - wash, rinse, repeat.
They’ll wait until after November, then taxes will skyrocket.
I read somewhere that the cumulative budget deficits of states and local governments could easily be over a trillion dollars.
Imagine a $1 trillion plus bill coming out of Congress to bail out every state and city in America.
And that would be on top of the trillions already spent on Coronavirus relief.
If Biden wins and Dems. control the House and Senate, a multi trillion dollar bailout will come out of Washington.
Whatever happened to the national debt ceiling? Do we still have that as an active issue to deal with?
We can evict in SC, landlords have rights compare to other sections of the country.
my taxes are too high as it is.....they should have cut the teachers immediately instead of some of this phoney over the computer schooling.....
Its best to stock up now in anything you will need.
So, the people who have been continuously getting paid want to take more money from the people that they said couldn’t get paid/the people they shut down? WTF?
Turnip, give us your blood NOW!!!
There is not one mention of reducing government spending in the Fox article !!!
Tax and spend politicians who have no interest in reigning in taxes are scum - and I'm being nice.
Reduce public employees pay by 90%...95% for school teachers.
The debt ceiling can be, and is, continuously raised by congress. Their argument is the debt pays for costs already incurred and therefore must be satisfied under the Full Faith and Credit concept of national finance.
The deficit is the amount of money needed to borrow to pay the interest on the debt incurred year to year (cumulative growth portion of the budget each year).
So if my annual budget includes taxes received and expenses it would look like this
Tax Rcvd: 1,000 dollars
Budget: 1,100 dollars
I have to borrow the 100 dollars to pay the costs incurred in the budget.
My deficit is 100.00. Next year my budget looks different:
Tax Rcvd: 1,000 dollars
Budget 1,100 + any new costs incurred above the budgeted expenses (say a natural disaster).
I have to repay the 100 dollars borrowed from last year + interest and fund the unexpected natural disaster costs (or war, or pandemic, or zombie apocalypse)
So now I borrow more money to pay for the gap.
If you do this long enough or borrow trillions of dollars you don’t have - eventually you get a financial collapse. Money looses meaning or value, everyone suffers, great opportunity for societal collapse—death, riots, pestilence, war, Mad Max dystopia.
The eviction moratorium is ending.
On the other hand, rents are set by local salaries anyway. Charge too much, you’ll just have more late pays, skips, unregistered roommates and other problems anyway.
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