jollystomper
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Apr 16, 2012
- Messages
- 6,184
This thread again reminds me that I was not born with the "invest iand manage rental properties" gene . More power to those who do have it.
I have always viewed relatively higher taxes as one of the "risks" one trades off against the "rewards" of higher income an an nicer lifestyle. Life is inherently unfair, and we will never be able to agree on what is a "fair" tax. As was stated before, "fair" is a nebulous definition and, like beauty, is in the eye of the beholder. Every time I have asked someone specifics on what they think is fair, the specifics can easily be seen as unfair to others. For example, I may not think it "fair" that "rich" people can manipulate their income to get ACA subsidiaries when they could well afford to pay the full rate. Those getting the ACA would not see that as "fair", and would say, among other things, "I am just doing what is legal". But, as we see with taxes, what is legal is not always viewed as "fair". Just as me getting a pension because I was born 2 years earlier than fellow Megacorp employees who had the same number of years of service is not "fair".
It was mentioned that if you do not like paying higher taxes, you can leave the U.S. I have an easier solution: If you do not like paying higher taxes, just stop earning so much . No one is being forced to make a lot of money. Donate your assets and lower your income to where you can pay little or no taxes. Of course, lower income comes with other issues beyond just taxes - again, a tradeoff in life.
So while it is clear that those with rental properties do have a myriad of challenges (the tax/gain calculation alone, regardless of the actual tax paid, has my head spinning ), it is still a choice, life is unfair and one cannot have it all, and it part of a risk to achieve a greater reward.
I have always viewed relatively higher taxes as one of the "risks" one trades off against the "rewards" of higher income an an nicer lifestyle. Life is inherently unfair, and we will never be able to agree on what is a "fair" tax. As was stated before, "fair" is a nebulous definition and, like beauty, is in the eye of the beholder. Every time I have asked someone specifics on what they think is fair, the specifics can easily be seen as unfair to others. For example, I may not think it "fair" that "rich" people can manipulate their income to get ACA subsidiaries when they could well afford to pay the full rate. Those getting the ACA would not see that as "fair", and would say, among other things, "I am just doing what is legal". But, as we see with taxes, what is legal is not always viewed as "fair". Just as me getting a pension because I was born 2 years earlier than fellow Megacorp employees who had the same number of years of service is not "fair".
It was mentioned that if you do not like paying higher taxes, you can leave the U.S. I have an easier solution: If you do not like paying higher taxes, just stop earning so much . No one is being forced to make a lot of money. Donate your assets and lower your income to where you can pay little or no taxes. Of course, lower income comes with other issues beyond just taxes - again, a tradeoff in life.
So while it is clear that those with rental properties do have a myriad of challenges (the tax/gain calculation alone, regardless of the actual tax paid, has my head spinning ), it is still a choice, life is unfair and one cannot have it all, and it part of a risk to achieve a greater reward.