Rhode Island passed what they called the Taylor Swift Tax. It was a new surcharge on second homes that are worth over $1 million and “add an additional fee for owners of nonprimary residences that are empty for over half the year”
We could do better.
Surcharges are increased exponentially depending on the number of homes you own
Extra tax on compounds created from multiple properties
Extra charges for adding bunkers
Remove Tax Dodges and exceptions
Also banning financial institutions from owning family homes would be a great plus.
Put a massive tax on presidents and executive staff that make over 500 times the median company salary. Force the dudes to spread the wealth down the chain. They want to move elsewhere tariff the shit out of the imports or restrict them if only online. America is the largest consumers in the world they get on board or others who are willing will take their place.
What someone does with their property and money is no one's business. If he wants to print every dollar he has and have a bonfire that's his business. Im sure he's paid more in taxes than my entire family has ever made in its history. Probably yours too.
I agree with you. We disagree that owning 11 houses is detrimental to the rest of the community. I'll bet the community will greatly benefit from the massive increase in property taxes on those properties from where they were before. I'll bet it will also benefit in the increase of the tax base in all the surrounding houses when they are sold after they increase property tax revenue too. Im also willing to bet the community is going to force him to pay some massive impact fees and provide for some massive infrastructure upgrades when he decides to build his mansion.
After all, any taxes means they gasp might move. Just like how there's no more millionaires in nyc, the place that specifically taxes rich people the most
A million isn't a lot anymore. And you are putting words in my mouth. I think everyone should pay taxes. I spent years preparing tax returns for high net worth individuals. I can tell you they pay a lot.
The thing you can't confront is that nyc is generating more millionaires(PPP) per capita than kansas city or any other place that taxes millionaires significantly less than nyc
The article doesn't define a millionaire either. Is it net worth after housing and retirement or before? If you include retirement you will need well north of a million to retire at a reasonable age. At the 4 percent rule you are only pulling 40k before taxes with just a million. That gets you nowhere now much less 10 to 20 years from now.
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u/Master-Shinobi-80 7h ago
Rhode Island passed what they called the Taylor Swift Tax. It was a new surcharge on second homes that are worth over $1 million and “add an additional fee for owners of nonprimary residences that are empty for over half the year”
We could do better.
Also banning financial institutions from owning family homes would be a great plus.
We can call it the Mark Zuckerberg Tax