Depolicing the US

On Sat, 25 Jul 2020 18:38:12 -0700, sms wrote:


Net worth, when you include the inflated value of your house, is pretty
meaningless unless you're going to cash out, pay a huge amount in
capital gains tax, and move somewhere cheap.

I wonder sometimes why people that are retired, and that own a house in
an area with inflated home values, don't move to somewhere cheaper and
less crowded.

Basically, it is the net cost of moving.
And unless you know the area you want to move to, how can you be sure you
want to stay there. Imaging finding a Tommy in the local bike club.

This would have the additional benefit of freeing up
single family homes for younger people that are working at the tech
companies.

Well, in that case you move and rent elsewhere and rent your old bigger
house out

There is also the question of cost of services. Older people tend to need
more health services and some area cater well, but others gouge the old
for all they can get.

On 7/25/2020 9:38 PM, news18 wrote:

snip

Well, in that case you move and rent elsewhere and rent your old bigger
house out

This is one of the unintended consequences of California's Prop 13.

What should happen is that the house is sold and the new owner pays the
appropriate property taxes, property taxes which support services like
schools.

Instead, the owner rents out the house for very high rent, the tenants
send their kids to school, but the property taxes that are paid by the
owner are far too low to pay for the necessary services.

The owner would have to pay state and federal income tax on the income
from the rental, but this mainly benefits the federal government.

I'd gain about $16,500 per year by doing this, considering the cost of
renting a property in a cheaper location and paying income tax on the
rental income. Plus I'd have to manage a rental property.

For some of my neighbors, who are paying only about $2000 in property
taxes for the same tract home that I'm paying $9500 a year on, the
schools are screwed even more if they rent out their house for $5000 a
month to a family with two children. The elementary and middle schools
spend about $8500 per child per year. If my neighbors or I sold our
houses, the new owners would be paying $25,000-$28,000 per year in
property tax.

If I moved to a county where I could take my Prop 13 valuation with me,
I'd be able to sell my existing house and buy a much nicer house and not
be paying any extra income tax. However this tends to screw over the
county I move to if I buy a house that would normally have much higher
property tax than I am paying. This is why only 10 out of 58 California
counties have opted in to the Prop 90 tax base transfer program.

On Saturday, July 25, 2020 at 6:19:34 PM UTC-7, Frank Krygowski wrote:
On 7/25/2020 4:06 PM, wrote:
On Saturday, July 25, 2020 at 12:56:06 PM UTC-7, 2wheelfan wrote:
On Friday, July 24, 2020 at 10:35:22 AM UTC-4, wrote:

My net worth is over a million dollars, what is yours moron? I made more money off of my investments last month than half of my yearly income from Social Security. Oh, wait, that's right - you think that is a socialist program. More proof that you couldn't pass a bar exam - a real bar exam where you say "fill 'er up".

A great old proverb: Believe the braggart as you would a liar.

Can you suggest why I should care in the least whether you believe me or not?

The thermometer of success is merely the jealousy of the malcontents. : Salvador Dali.

Oddly, the person bragging about a million dollar net worth is the
foremost malcontent in this discussion group.

Malcontent about the price of groceries, the terrible neighborhood he
lives in, the hundreds of foolish employers who refuse to give him a
job, the communists who have been ruining America for decades, the
terrible quality of discount no-name Chinese bike parts, the deadly
low-hanging tree branches, the horrible complexity of electronic
shifters, and so much more.

Tom is obviously our unhappiest poster.
Your idea of malcontent is recognizing governmental idiocy. Why does it all seem to be in Democrat Run states? How many killings are there per night in Chicago now? In New York City where owning a gun is all but illegal? In Detroit? Why don't you tell us all about performance bikes when you have some old piece of junk touring bike? Despite your protestations I don't believe you even ride anymore.

On Saturday, July 25, 2020 at 8:53:54 PM UTC-7, news18 wrote:
On Fri, 24 Jul 2020 07:35:19 -0700, cyclintom wrote:


My net worth is over a million dollars, what is yours moron? I made more
money off of my investments last month than half of my yearly income
from Social Security.
So exactly why do you need social security then?

Oh, wait, that's right - you think that is a
socialist program.

If it is paid for by the community, then it is socialist.

Over here, someone earning similar independent income, would not get
'social security' aka od age pension and they would be thought to be
defauding the government if they were.

Being taught socialism, you recognize anything and everything as socialism. What's it feel like to be a complete moron? Does it make your head hurt?

On Sunday, July 26, 2020 at 8:02:44 AM UTC-7, sms wrote:
On 7/25/2020 9:38 PM, news18 wrote:

snip

Well, in that case you move and rent elsewhere and rent your old bigger
house out

This is one of the unintended consequences of California's Prop 13.

What should happen is that the house is sold and the new owner pays the
appropriate property taxes, property taxes which support services like
schools.

Instead, the owner rents out the house for very high rent, the tenants
send their kids to school, but the property taxes that are paid by the
owner are far too low to pay for the necessary services.

The owner would have to pay state and federal income tax on the income
from the rental, but this mainly benefits the federal government.

I'd gain about $16,500 per year by doing this, considering the cost of
renting a property in a cheaper location and paying income tax on the
rental income. Plus I'd have to manage a rental property.

For some of my neighbors, who are paying only about $2000 in property
taxes for the same tract home that I'm paying $9500 a year on, the
schools are screwed even more if they rent out their house for $5000 a
month to a family with two children. The elementary and middle schools
spend about $8500 per child per year. If my neighbors or I sold our
houses, the new owners would be paying $25,000-$28,000 per year in
property tax.

If I moved to a county where I could take my Prop 13 valuation with me,
I'd be able to sell my existing house and buy a much nicer house and not
be paying any extra income tax. However this tends to screw over the
county I move to if I buy a house that would normally have much higher
property tax than I am paying. This is why only 10 out of 58 California
counties have opted in to the Prop 90 tax base transfer program.

The teacher's union will not allow a teacher to be fired no matter how incompetent. In some areas not one single pupil can pass the age related tests for English or Math and the Teacher's union answer to this is pay the teachers more. Sounds like the sort of plan you have.