- Posts: 4630
- Thank you received: 0
SS109 wrote:
Don't worry about Detroit, Obama and the Dems will send them more money. So the functionally illiterate will continue to live in this hellhole and collect their benefits.
Please Log in or Create an account to join the conversation.
Taxes "on the rich" didn't cause Detroit.
Um - yes. Every major city has taxes which apply to businesses. Denver, for instance, has a head tax, and inventory tax and a use tax for equipment among others. Property taxes are generally county driven, and Detroit is the largest city in its county, thus the majority of the property taxes for that county would come from Detroit and a raise in those rates would impact its residents to a greater degree. Also, the evil rich generally own more valuable property - so a raise in property taxes takes more money out of their pockets. And then we come to the income taxes for the state of Michigan - which went up over 10% in 2007 (3.9% to 4.35%) - which would affect the total taxes the people in the city of Detroit are subject to paying. Then there is the commercial versus private property tax. The taxes on commercial property can be, and often are, different from that of residential property. The might even be addressed separately and it would be possible to raise commercial property taxes without affecting residential property taxes. Generally speaking, it is the rich, not the poor, who own commercial property, so a greater increase in commercial property taxes is a greater tax on the rich. Certainly all rich commercial property owners are taxed the same, but due to the higher value of commercial property in general, as well as the higher rates, property taxes are one method used to get more money from the rich. For instance, in Park County Colorado, residential property is assessed at around 8% of its market value, commercial property is assessed at about 30% of its market value.
Please Log in or Create an account to join the conversation.