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Joe BidenCongratulations to our presumptive Democratic nominee, Joe Biden!
 

Blue_true

(31,261 posts)
20. You can't do that.
Thu Oct 31, 2019, 11:21 PM
Oct 2019

Your new roof is a good example. Say you pay $50,000 for a new roof. The big corporation down the nearest highway to you buys a $7 million dollar machine. You new roof increases the valuation of your property, you likely end up paying more on property taxes, which under the tax scam, are no longer deductible to any meaningful degree - you only benefit from the new roof if you sell the higher value house. The corporation can immediately write off 20% of the machines price and save on taxes, also, because the company's local taxation issue is so complex, it likely pays nothing more in property taxes and likely get a tax break for locating to the state and city. So the deck is stacked in favor of the company.

I was recently at a city zoning meeting in my predominantly red city (actually trending more purple now). There was a large land trac proposal being discussed. What struck me was the chairman of the zoning board, who I had assumed was a staunch republican, asked out loud whether the buyer of the land trac would want tax breaks to make the project viable, his point was the city seemed to be giving out a lot of tax breaks and maybe should reconsider that policy. The guy's point stunned me, I didn't expect to hear such a thing from anyone on a red city's zoning board.

If I were to vote in a presidential
primary today, I would vote for:
Joe Biden

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I hate the fact that the WaPo needs him mucifer Oct 2019 #1
The only thing good Bezos does disndat Oct 2019 #7
What kind of Halloween candy is he giving out this year? Sneederbunk Oct 2019 #2
Something like this I imagine Uncle Joe Oct 2019 #4
God! Every five days he's a BILLION+ DOLLARS richer. brush Oct 2019 #3
Thats a subjective number. Last Thursday he lost about 7 BILLION. oldsoftie Oct 2019 #5
Yeah, at that rate Bezos made 56 billion in the last year alone. I'm sure that's on overstatement. KPN Oct 2019 #9
Corporations are allowed to book assets differently from individuals, and Blue_true Oct 2019 #17
Well then. I should be able as an individual KPN Oct 2019 #19
You can't do that. Blue_true Oct 2019 #20
A new roof on your home should NOT increase property taxes. Its regular maintenance. oldsoftie Nov 2019 #21
What part of the country do you live in? Are permits required to replace the home's roof? nt Blue_true Nov 2019 #38
GA. I've never pulled a permit. Doesnt mean its not required though. I'm not sure. oldsoftie Nov 2019 #42
Holy crap!!!! 3 roofs in 3 years? Blue_true Nov 2019 #45
HA! Ol' Ned. Yes, it was for 3 different properties. Guess I should have made that clearer! oldsoftie Nov 2019 #47
So you have seen the roofing shams too. Blue_true Nov 2019 #48
Yes, it is a total garbage number. Blue_true Oct 2019 #16
And this is why I pinkstarburst Oct 2019 #6
And you could take ALL of Bezos money and its a tiny piece of whats needed. oldsoftie Oct 2019 #12
Funny how he's able to buy mansions all over the country with this money he doesn't have melman Nov 2019 #28
Its called "borrowing". And the value of those properties dont add up to 1% of his "worth" oldsoftie Nov 2019 #30
"I'm sure he's not paying cash." melman Nov 2019 #33
Under Warrens plan, he'd pay about 6 billion in taxes. The other 3 big fish; about 15B oldsoftie Nov 2019 #34
The one person I've seen who has been as negative toward the Washington Post is donald trump. George II Nov 2019 #39
What are you talking about? melman Nov 2019 #40
Get the point, but when Bezos cashes in some of his stock, he does pay taxes. Hoyt Oct 2019 #8
And Joe Otterbein earns.... JoeOtterbein Oct 2019 #10
I'm working on my second million, Uncle Joe Oct 2019 #11
$78.6 billion dollars a year? Really? NNadir Oct 2019 #13
In 1998 bucolic_frolic Oct 2019 #14
That's simply not true. I'd love to see the numbers behind that bloated claim.... George II Oct 2019 #15
Fox Business article from last October on last year's Forbes 400 list: highplainsdem Oct 2019 #18
That article should be re-done, since its over a year old. He "lost" 36 billion THIS yr! oldsoftie Nov 2019 #23
Sanders is showing that he is out of his element. TidalWave46 Nov 2019 #22
You're right. Grasping at straws. oldsoftie Nov 2019 #24
Yeah, let's all rush to the defense of the billionaire. Act_of_Reparation Nov 2019 #26
Not sure I understand your reply. TidalWave46 Nov 2019 #27
No, people are trying to explain reality. Not "defend" a billionaire. IT WONT WORK. oldsoftie Nov 2019 #31
Problem is much bigger than Bezos or Amazon. Not long ago, more than half of wiggs Nov 2019 #25
The numbers appear to come from this article from BI aidbo Nov 2019 #29
As I posted above, last week he lost 9 BILLION. so factor that in. oldsoftie Nov 2019 #32
lol, poor Jeffy Bezos aidbo Nov 2019 #35
Thats cute, but the point isnt sympathy, its the fact that you cant nail down "worth" oldsoftie Nov 2019 #37
And that's why the wealth tax is IMO a non-starter. redqueen Nov 2019 #43
Exactly. Exempting 75-100 million from paying more gets you bankrupt faster than usual. oldsoftie Nov 2019 #44
Yep. That's why, for me, VAT + UBI is the most elegant solution to a host of issues. redqueen Nov 2019 #46
You seem really frightened of the idea of raising billionaires' taxes. aidbo Nov 2019 #49
Not at all. I'm just believe in being honest & living in the real world. You cant JUST tax the rich oldsoftie Nov 2019 #50
Yes, we are living in times Kesaco Nov 2019 #36
John D. Rockefeller - $340 Billion USALiberal Nov 2019 #41
nice good for him . stonecutter357 Nov 2019 #51
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