I guess it comes down to paying your fair share. In the real world fair share is like this: 20 people need to move 40 gallons of milk from point a to point b, every person picks up 2 gallons of milk at point a and moves it to point b. Everyone is happy.
In the tax world fair share is based on wealth or a percentage of wealth. In the above scenario half of the people would walk empty handed from point a to b. The other half would carry the milk based on wealth, some carrying 1 gallon, some carrying substantially more. If you have greater wealth, you carry more of the load. Is this fair? Who knows, but it is reality. I, for one would support tax deferrments for Seniors that would become liens with interest charged payable upon death or transfer of title. These could be funded via bonds with the interest charged going to pay bond interest. I don't think anyone who owns property should get out of paying property taxes.
|