The Property Tax Scandal in The US

The Property Tax Scandal in The US

One of the kinds of taxes in America that really represents a scandal long overdue to be part of the national agenda for change, is the property tax. Here in the United States we use a whole bevy of different taxes to pay for what our Federal, State and local governments do for us. Today I’m going to focus on what the local tax system is. That is by local I mean towns, cities, villages…how do they pay for the things they’re supposed to do? Like public schools, local police, and fire departments, health care, and so on… maintaining pollution-free streams and the public parks, and all of that. The answer is our local communities basically rely on one kind of tax more than any other. It’s called the property tax. And it’s very interesting, here’s how it works. Every city or town has something called the Tax Assessor, and that person’s job is to go around and measure the value of homes, land, stores, factories in the community, property – “real property” it’s called – and then to advise the city fathers and mothers so they can decide how much tax rate to apply to that property and the person who owns the property is required to pay a tax on the value of the property every year. And that’s how cities and towns raise a good bit of the money they need to provide all those local services we all rely on. But here’s the interesting thing. It’s called the “property tax” but it shouldn’t be. Because it doesn’t apply to all property, and therein lies the scandal. It applies to some property, but not to others. and there’s no reason for this. Let me explain. The first kind of “property” that’s taxed is land. The second kind: structures built on land (a home, a store, an apartment house, a factory). And then other kinds of property are sometimes included (an automobile, a boat), even sometimes the inventory of a business. So those kinds of property are subject to tax. Every year, the owner pays a small percentage of the value of that property. And that’s what the city and town or village use for public education, fire, police and so on. Here’s the scandal: there are other types of property and they’re not taxed. Let me explain. If you sell a house – let’s say, it’s worth $100,000 – and you take the $100,000 and instead of a house you use it to buy stocks and bonds. You had a $100,000 of property before in the form of house. You have $100,000 of property now in the form of stocks and bonds. But here comes the trouble. What’s the property tax on stocks and bonds levied by cities, towns and villages in the United States? Zero. Nothing. We don’t have a property tax. We have a property tax that exempts what is called “intangible property.” Property you can’t touch, like a piece of land, or a structure. We don’t tax it. We did as a nation in the past. In many cities and towns, if you go back far enough, you’ll discover that there were property taxes on stocks and bonds. I remember learning that the first tax ever levied in the state of Connecticut was on the stocks and bonds of a canal that was built way back in the early days of the State. But we don’t do it anymore, hardly anywhere in America, and that’s a scandal. Two reasons: (1) the people who owned most of the stocks and bonds in the United States are, of course, our richest citizens. Most of us cannot afford a house or a home, let alone stocks and bonds. If American working people have any wealth, it’s their home. Very few have a significant amount of stocks and bonds. Those are highly concentrated. Which means a property tax that exempts stocks and bonds is a property tax that exempts the richest amongst us, for which there is no justification; Second point: think about it. The wealth in this country in the form of stocks and bonds is in the many, many trillions. A tiny rate of taxation – 1%, half of 1% – would generate a huge amount of revenue for this country at a time of economic difficulty; very valuable. And it would come only from the richest and it would take a very small percentage of their stocks and bonds. It is a scandal that we have not addressed this unjust property tax system long ago.


  1. Clare Stucki says:

    Intangible property is difficult to tax because it can be easily hidden or concealed. If that were not so, cities and states would be HAPPY to tax it. You'd think Wolff would be smart enough to realize that.

  2. Tim O'Brien says:

    This idiot missing the whole point of property tax and blames stocks.. The constitution says only commercial property is taxable not private property..
    Many non profit organizations don't pay property tax but make huge profit from its sale of property under the umbrella of non profit organization ..

  3. Sunny shah says:

    Yes, but Politicians aren't going to wake up one day and end property tax.
    To them, it's easy money that they can always depend on earning annually, and hence, they don't have to work harder to find better alternatives of earning money for public activities such as Education, Police, Fire, Colleges, Infrastructure etc.

  4. Jimmy Somethin says:

    Here in Australia, we don't have yearly property taxes, we have three tiers of government, Federal, state (we have 7 states and Territories) and local government , called local municipal councils. I guess its similar to the USA as far as how local councils work but with property, the states pick up what we call Stamp Duty, its a percentage of the property value when it is bought. So a property like say a house purchased for say $A500,000, the stamp duty payable is about $A19,000, and for $A700,000 its about $A28,000. So with this kind of impost on buying a house, it makes it hard to move interstate for a job, each time we buy a house, we have to pay this Stamp duty. So this is collected by the State for Police, Schools, state roads, Emergency services and state employees etc. Plus they collect speeding fines and car and truck registration. The states also get the total of the GST,( Goods and Services Tax) its a 10% tax on almost everything we buy, its collected by the Federal Government and divided up in an agreed manner to the 7 states and Territories. The Local Government we call Municipal councils, raise their major money from Council rates, this is applied to all properties in their Municipality and is applied to the unimproved value of the property. So its valued on the land value only. For a suburban middle class area the cost per year per homeowner would be about $A1500, usually in 4 increments over a year. Councils use their money to pay for new and upgrade local roads, Parks and council employees. This usually includes weekly kerbside Trash and recycle pickups, they also make money from local parking fines and fees for development approval within the local area. Federal Government, collect the income taxes and Alcohol and Tobacco taxes which are significant, Also capital gains taxes is a nice little earner for them. So the Federal Government pays for Federal Employees, Armed forces, Federal Roads, major roads and infrastructure. I hope this gives Americans an insight to where our hard earned tax dollars go! Jimmy.

  5. Jimmy Somethin says:

    So how much Property tax is paid on a $US 500,000 suburban house per year?

  6. Dirk Simmang says:

    to the 560 thumbs down. ..

  7. ABQ SKY says:

    The bigger scandal is CHILD SUPPORT. If a state doesn't comply with federal child support laws, then the feds will not give money to that state for roads and schools. That's even bigger in my opinion.

  8. Mishkin Faustini says:

    This is becoming very relevant in public discourse now that Elizabeth Warren is running for president and is advocating a wealth tax.

  9. Sharon Downs says:

    Right? We're taxed to death.

  10. Sunny shah says:

    When you buy a product online or from the store, you only pay tax once on that product, because after that, you own that product,
    so when we pay off our property, or when we fully purchase a property, we should only pay tax once on that property, because after it is paid for, we legally own the property, so why are we supposed to pay tax on something that we own??
    Makes no fucking sense.

  11. Joseph Traina says:

    I couldn't believe we actually have our taxes raised for beautifying or improving our property.

  12. I 80 MONFORT of COLORADO says:

    Federal Reserve Act (1913) “Hypothecated” all property within the federal United States to the Board of Governors of the Federal Reserve,-in which the Trustees (stockholders) held legal title. The U.S. citizen (tenant, franchisee) was registered as a “beneficiary” of the trust via his/her birth certificate. In 1933, the federal United States hypothecated all of the present and future properties, assets and labor of their “subjects,” the 14th Amendment U.S. citizen, to the Federal Reserve System.
    With the Constitutional Republican form of Government now dissolved, the receivers of the Bankruptcy have adopted a new form of government for the United States. This new form of government is known as a Democracy, being an established Socialist/Communist order under a new governor for America.

  13. I 80 MONFORT of COLORADO says:

    Congressman LOUIS MCFADDEN speech:
    Mr. Chairman, a serious situation confronts the House of Representatives today. We are trustees of the people and the rights of the people are being taken away from them. Through the Fed the people are losing the rights guaranteed to them by the Constitution. Their property has been taken from them without due process of law. Mr. Chairman, common decency requires us to examine the public accounts of the Government and see what crimes against the public welfare have been committed.
    "Mr. Chairman, the United States is bankrupt: It has been bankrupted by the corrupt and dishonest Fed. It has repudiated its debts to its own citizens. Its chief foreign creditor is Great Britain, and a British bailiff has been at the White House and the British Agents are in the United States Treasury making inventory arranging terms of liquidations!
    The greatest crime in history. Every effort has been made by the Fed to conceal its powers, but the truth is the Fed has usurped the government. It controls everything here and it controls all our foreign relations. It makes and breaks governments at will." — Congressman Charles McFadden, Chairman, House Banking and Currency Committee, June 10, 1932.

  14. I 80 MONFORT of COLORADO says:

    We are reaping what has been sown, and the results of our harvest is a painful bankruptcy, and a foreclosure on American property, precious liberties, and a way of life. Few of our elected representatives in Washington, D.C. have dared to tell the truth. The federal United States is bankrupt. Our children will inherit this unpayable debt, and the tyranny to enforce paying it.

  15. I 80 MONFORT of COLORADO says:

    Warnings About the Invisible Government Running the U.S.
    The warnings listed below, which appear in chronological order, began
    with our first president – George Washington. The last president to
    speak out was JFK, who was assassinated.  Read what they and
    other political leaders have said about the invisible government.
    George Washington wrote that the Illuminati want to separate the
    People from their Government.
    Remember, JFK started printing legal tender backed by silver 1962.
    “I sincerely believe, with you, that banking establishments are more dangerous than standing armies.” —
    Thomas Jefferson, 3rd President of the United States (1801–1809) and principal author of the United
    States Declaration of Independence (1776), in a letter written to John Taylor on May 28, 1816
    “A power has risen up in the government greater than the people themselves, consisting of many and various
    powerful interests, combined in one mass, and held together by the cohesive power of the vast surplus in
    banks.” –
    John C. Calhoun, Vice President (1825-1832) and U.S. Senator, from a speech given on May 27, 1836

  16. Men In Black says:

    We need to end any real state property tax then.

  17. thesandboxbandit ! says:

    People would take you more seriously if you didn't have a crazy person sounding tone. Also the occasional crazy eye you do as well.

  18. Megan Vlogs says:

    tax accessor claims your house is worth more than it is just so they can gouge you!!! Its not fair!

  19. Luis bud says:

    Paying tax on stocks will be a double taxation because the corporations pay for their ernings.

  20. Robert Moriarty says:

    Do only the wealthiest own stocks and bonds? What about the millions of average folks who own mutual funds that (mostly) invest in stocks and bonds? Most retirement plans (like 401k’s) are mutual funds. They are tax deferred or tax free (for ROTHs) but only for capital gains, interest, and dividends. Many average people invest in their future this way and a property tax on stocks and bonds would effect mutual funds (and ETF’s) because those taxes would be passed down to the average people. Like almost everyone who has a job and more!

  21. Michelle Greenleaf says:

    I've always thought about this and wanted to know. The way I see it is. Once your property is payed in full. You shouldnt have to pay out your money to anyone because you rightfully own it. Example: if you go into a clothing store and you buy a pair of Jean's. You buy them payed in full and that's it you dont keep paying for these Jean's every year. So why do we have to do it on what's already ours. Our homes and property. The most expensive thing we own we have to keep paying on them for ever. It's all bullshit

  22. Thomas Smith says:

    Sir,you are a typical democrat trying to create a new tax and are foolish to think that working class citizens do not have their savings tied up in stocks and bonds.

  23. attovishnu says:

    Stocks and bonds usually get hit with the inheritance tax, unless they're in a trust.

  24. Mary Jane says:

    In my county the tax assessor, tax collector, district attorney work with no license or bond! They take people’s property. Why Orange County has a huge population of homeless these officials are criminals?

  25. Motorcitymadman says:

    YES SIR. PROPERTY TAX IS CRIMINAL. You should never lose your home because you cant pay taxes. A lean at the most. You can never own something if you always owe on it and if can be taken away if you dont make payment.

  26. GamersAnonymous4me says:

    all taxation is theft. the supreme court called taxation an exaction (which equates to extortion and unlawful taking). You cannot do anything to private property unless you own it. You cannot sell it, you cannot take from it, only an owner can. All taxes to have any fairness would be excise taxes. If you use the roads you pay a gas tax that pays for the creation and maintenance of the roads, – the more you drive the more you pay, perfect. If you have children you should pay a school tax if enrolled in public schools (homeschool = no tax) as an excise for the use of the school (only the government wants to force their right to mind control the whole population in schools and spoon feed the vulnerable young their marching orders. The fact is you should never have to support the spending of another man spending your money on things you dont want.
    Property is exempt from taxation unless its used for commercial purposes (business) and that is based upon fraud also as a man can choose to work any way he wants without requirement of any license issued by the STATE. The fed can 'regulate' but not tax commerce but they ignore all limitations on their power and nothing can cause any consequences for their treasonous acts,.

  27. Thomas Hofmann says:

    Well said

  28. Edward Dodson says:

    Conceptually, the public collection of the rental value of a location is not a tax; it is a charge for exclusive control over the location. The amount of this charge should be equal to the potential annual rental value of the location, as determined by competitive bidding. No individual produces a location. No individual creates the exchange value (i..e, the capitalization of its rental value under our current system of taxation).

    Buildings are capital goods, assets produced by individuals and entities that should be exempted from taxation because they are legitimate forms of private property. Economists note that taxes on capital goods impose a significant "dead weight" loss on an economy, meaning that much less is produced because of the tax than would be produced without the tax.

    As for the asset or wealth tax proposed by Professor Wolff, there is strong reason to tax gains on the sale of stocks, bonds, other financial assets (or land). These gains are derived by passive investment and/or speculation. In the real world, these is no such gain as a "capital gain;" actual capital goods (i.e., buildings, machinery, technologies) all depreciate over time and never sell for more than the cost of acquisition.

    At minimum these gains should be included with wages and salaries and taxed according to a progressive schedule of taxation. We could combine progressivity with tax simplification by (1) exempting all individual incomes up to the national median; (2) eliminate all other deductions and exemptions; (3) impose a rising rate of taxation on higher ranges of income, the rates and ranges determined during the budget process with the objective of achieving a balanced budget.

    Edward J. Dodson, M.L.A., Director
    School of Cooperative Individualism

  29. Justin Ferguson says:

    They been extorting and and demolishing homes buy the thousands here in Youngstown town Ohio for many years now, if your house is not up to date on repairs the city fines you or you can go to jail . Agenda 21 is in full swing here in Mahoning county, this is no longer a free country.

  30. Erin says:

    Already pay 2 HOAS of $250/mo, who do nothing! Refuse clean st. gutters over prop line on street, but clean other side. I beg por favor! No gated, drive by security or front yard service, as my last home. Plus we pay ins, maintenance, repairs, utilities, sales, income tax! I do yard with 8 blown discs, sciatica, annular tears, osteo arthritis, cant afford flaky gardeners break sprinklers. Many work lifelong pay off homes now disabled, robbed of perpetual biz income I founded by jealous, thieving partner, mgr. and lawyers representing other side! We sacrifice, save, deprive 45 years for debt free retirement and security, only to find we have none! All because of greedy, corrupt govt. and saboteurs!

  31. D90Girl says:

    Tax the rich, built the wall !

  32. walter bass says:

    tax revolt is needed gas tax, ripoff b/s!

  33. Nixon Rexzile says:

    don't like it, then stop using american money, instead use crypto

  34. Toshiro Hitsugaya says:

    Ugh if it's not rent you have property tax how anoying.

  35. Osiran rebel says:


  36. Josh L says:

    Property tax is hell.

  37. Jeffrey Kirton says:

    Property tax, non refundable insurance premiums, judicial bail…all that shit is a money grab. Get yo hand out my pocket!

  38. robert carpenter says:

    To the contrary, the real scandal IS taxation. American cities grew the fastest when there was no income tax, ad vaolrem property tax, sales tax, estate tax, excise tax etc. Take any city – Baltimore, St Louis, Newark – and compare photos of it in 1900 when there were no taxes with photos taken today. Taxation correlates perfectly with destruction.

  39. BR549 says:

    I thought you might mention the fact that churches are exempt in most states from paying property taxes. Yet, they may expect police, fire, and other governmental services just like the folks who do have to pay the tax. Here in Florida, a western based church owns huge amounts of cattle ranch land, upwards of 100,000 acres, but is tax exempt. God truly does work in mysterious ways, especially through the legislature.

  40. TownBizz510 says:

    Paying taxes with fake useless paper from federal reserve biggest crooks who own you when your born and trade you off into the stock market America the corporation everything we were told is nothing but a lie

  41. RoddericK says:

    If you read closer, the tax isn’t on property exactly, it’s the gains from commercial use/manufacturing. Ask yourself what taxable activity is happening at home. Listen to this audio and on another scheme that is very helpful, Losthorizons do tc com (separated for easy posting).

  42. freebieman104 says:

    Thank you for sharing. The direction we're going in, money is power, we are more divided than ever. And it seems all those apocalyptic movies where the government controls everything aren't far away if we don't act.

  43. Lor Allbrit says:

    This is a fraud on the people. Ad valorem is only due at the time of sale it should not be assessed once a sale or purchase goes through. We are paying taxes on an item that is not in commerce.

  44. Mike B says:

    Taxation…prove you won't waste it first. ?

  45. old fan says:

    I'd like to point out another scan: My school tax bill is $9.00/year. I would be much happier if the P-tax (about $2300.00/year)  were halved and that 50% would be allocated to public education.

  46. Troy Clark says:

    You missed the part ahout property tax being imoral and unconstitutional.

  47. sean westmoreland says:

    Americans can't own PROPERTY only LEASE it from the corporation claiming to be government since the 1860s! No PRIVATE PROPERTY they claim it is real PROPERTY or residential PROPERTY which is commercial in meaning so they can tax PRIVATE PROPERTY through fraud! Land patent is the only way out !

  48. Morty says:

    They should not have the power to take your house if you paid for it tax and title. I understand they need the money to pay for whatever services. But recently, My mother received a letter saying her house would be sold at auction because one year was behind, $1100 in their tax money they're willing to sell your $85000 house. So they can pay for services you may or may not Use. No authority should have the power to remove you from your property Under any circumstance.

  49. Tiger. says:

    To bad why didn’t you have a way you can get out of paying it lol i’m serious

  50. 337 337 says:

    3:00, looks like it's NOT applied to things the ruling class are more likely to buy.

  51. Albert Hicks says:

    Bet if the native American had knowledge about what these people's plan was for their land…..evil people

  52. Fit4Life says:

    About 70% of stocks and bonds are owned by the corporate government from which they earn MORE money than they collect from ALL taxes collected from the citizens. Property taxes are unconstitutional and did not exist prior to 1913. It is one of the planks of the Communist Manifesto along with a graduated income tax and public schools to name a few more. We lost our republic a long time ago. For a brief summary of the milestone changes watch the video posted today, 28 June 2019 on the William Mount YouTube channel.

  53. Muralha says:

    The fact that I can never own my house really discouraged me from buying…

  54. blues man says:

    State property taxes have become so expensive that we've all become renters.
    Taxed too much in this country and for everything. As a Senior Citizen I will be
    in the street when too old to work to pay for my Property taxes.

  55. David Vartanian says:

    My mother has been a widow for over 20 years, she has already paid off her house. Pretty much paid off the house twice considering property tax! And as she gets old all she worries about is that stupid tax!

  56. Dustin Peterson says:

    All property tax is theft, we the people don't own "real" property, we have private property which the municipal corporation called the town or city, tricks us into thinking it's taxable when it's not.

  57. M. says:

    Property taxes are voluntary. Nobody is required to record their deed. Once recorded…the county can assess and tax your property. They then classify it as "residential" property. If you don't record your recently purchased land…then the county can't tax your PRIVATE property. They will continue to bill the previous owner until the previous owner notifies them of the sale. When you purchase "private" property…then make sure the previous owner does NOT get a copy of the conveying documents (deed). You retain that copy and keep it in a safe and well hidden place.
    If you do it this way…the previous owner can't record the deed for you….where you then end up getting hit with a property tax bill. I know several people that have done this successfully. Works like a charm.
    The down side is that you can never get a home equity loan on your "private" property.

  58. Michael Klein says:

    dear Mr wolf, your arguments are flawed. If a person buys stocks in a company, the physical plant property of said company wherever it may be located is being property taxed. Stock makes you a percentage owner in company and the property taxes are paid by the management of corp. Slightly different than mom and pop owner's going to the county building to pay property taxes. Thought you might like to know this so you can rethink your arguments. Thanks!

  59. Chuck You says:

    So isn’t this the same dumbass that’s trying to push socialism on us? Without taxes, how does that workout? What a maroon.

  60. PCNRIDER says:

    Stocks and bonds at the IPO stage are capital used to make products and services. A home is a place to live in and is should not be used for speculation. Why should productive factors be taxed?

  61. Charles Treibley says:

    Great explanation of one of the many ways the lower class is left holding the bag. He did not touch on another portion of this tax. Many companies work a deal with the local politicians to reduce or in many cases pay no property tax, leaving the burden to the local population to pay!

  62. Lambo Llama says:

    Let’s call property tax what it is: a State Rental Fee

    Proposing more taxes this time on stocks and bonds is certainly not the answer.

    There are people who start out poor who learn and understand the financial system through financial education who become wealthy.

    Your solution is to penalize them too? No, let’s just stop the madness altogether.

    Taxation is theft in any form.

    Give people the option to opt in to serves that serve them and give people the option to opt out of services that don’t serve them.

    Anything less is THEFT.

  63. Lambo Llama says:

    Taxing stocks and bonds would rob people of a significant portion of their retirement savings.

    Trading one scandal for another is not the answer.

    Taxation is theft.

  64. Mark Jones says:

    Free men and women in a Republic do not pay taxes but citizens, residence and persons all pay taxes.Men have two identities oneself and the one given to you by the authorities which one are you? Oneself equals the man the one given to you by the authorities equals a fictitious bankrupt corporation.

  65. donald roby says:

    yes of course!

  66. Pleiadain scientists U.F.O builder says:

    People should read the declaration of independence

  67. MasterFeiFongWong says:

    Go here, take a look, and share, it's important
    Taxation against a none consenting individual is stealing of there property and it is also slavery plain and simple. both of which are not legal. There for taxation is illegal. Others may contests this truth but it is none the less a truth. You see the people steeling the money are a part of the government so what do you think they say when some one goes to a judge and reveals this truth that taxation from a none consenting individual is stealing and slavery? They obviously rule it down even tho they know full well you are right and they are the criminal. Think about it, that stolen money (The Taxed money) is paying there bills and they are not willing to give it up. They are all thieves plain and simple, and people need to wake up to this truth and stop paying the beast.

    Fixing Tax Problem:
    I have an idea that can work, it's based off of the concept slow and steady wins the race 😀 Imagine a none enforced consensually opted into united savings fund to replace taxation, anyone can put any amount of money they want into it and select how long they are willing to donate it 6 months 1 year etc…etc.. after which time they can get the amount of money they put in out. But not the interest accrued, the interest accrued has to stay in united savings account where it is to be invested by the smartest investors in the world in the safest way possible. Rule 1: Only a percentage of the interest accrued can be used to benefit society as a whole, this way the account continues to grow and be able to help more and more. 2: How the percentage of the interest accrued is allocated should be based off of most to least important needs in society. As to what determines what is most important people can just vote on that, whether it be as a country as a whole or the money distributed evenly among'st the states and then each states votes for there own state what is most important. Fact: Forced taxation is STEALING Fact: Forced taxation is slavery. Fact: Stealing and Slavery is illegal and wrong to do.

  68. Rob M says:

    Property taxes should be eliminated and replaced with more in local income or sales tax or other forms of revenue. The whole idea of property taxes is shit.

  69. Exposing the Darkness with the Light of Truth says:

    Immoral taxation: It’s very likely there will be an economy crash because high taxes are out of control or we can hope so to level the playing field once again!! When we don’t pay attention, when voting, against taxes, they take advantage of you the taxpayer!! Again, it's time to add this issue to your prayers before you default on your loan because of high taxes!!! Where is part 2??

  70. lostman33 says:

    We had better do something while we still have our guns! We have got to stop talking on the internet and start organizing. Throw that television away.

  71. Lu Huagang says:

    The difference between land and stock is this: land is non-reneratable while stock is. You can create your own company and sell its stock of you wish. Land on the other hand, is limited and cannot be reproduced. That is why you have to pay for the right to use it, even if it is your own land. This ensures the efficient use of scarce and irreproduceable resources.

    The places where people cannot afford homes are, ironically, those places with low or no property taxes. China has no property tax, and in tier one cities, average apartment price is 70 times of average annual income. In Vancouver, property tax is about 3/1000. In San Francisco the rate is 6/1000. These are places where working people cannot afford houses while many houses are left empty.

  72. Maria Taylor says:

    Property tax is slavory!!

  73. Snipview says:

    Sure, is not enough that these people – the top 1% – make 20% of income but pay 40% of the taxes, and the bottom 50% pay little or receive rather than paying, and that we tax people for fake gains produced by inflation, let's also tax the people who take risks to provide the capital needed to provide jobs! Genius! LOL!!!
    And is a LIE that stock ownership is "concentrated". The LARGEST owner in the stock market are people's $28 TRILLION retirement funds. So let's do what Wolff preaches and let's start taxing retirement funds. More genius!! LOL!!!!!

  74. Orchade says:

    You mean… Rent?

  75. strikehair55 says:

    You made very good points man. I respect the heck out of you. I just fear that any tax on financial transactions including stocks could actually crush us more than help us. I revere the nature of our economic beast and I'd be very nervous about shaking up a market that is essentially a roller coaster pre and post/ barring said additional tax in the first/second place. Either way though, you are right. Property tax is F'd. And enjoyed the whole video.

  76. Terry Schablow says:

    The real scandal is no Americans owe tax on anything. This guy is just a commy dushbag pushing his Utopian agenda.

  77. Beggin Knight says:

    Disingenuous! why did he stay back in the day we used to tax stocks and bonds but he didn’t also say there was no income tax until 1913 disingenuous.

  78. Dorothy Home says:

    Stocks and bonds…. The municipal CAFRs consist of stocks!! Isn’t that what’s purchased from all the stolen homes !?!? All tax is federal tax and they have no authority to assess tax … only an irs agent who is registered with the county and has signed an affidavit to that fact. These municipalities can only legally collect tax …not assess it.

  79. Fred Drew says:


  80. Scott Andrew Hutchins says:

    When my mom died, my brother and I inherited 50/50, which meant selling her house. I put most of the money I got into mutual funds and continue to live in a homeless shelter. It's better that I get the tax free dividends to pay for my storage now than to be destitute when I'm 50 because I spent my inheritance and can't find a job that will have me that doesn't pose a danger to me with my medical problems and does pay a wage I can live on. I wouldn't care if they taxed it at 1% except that they keep jacking up the cost of my storage. In a few years, I might have to start selling the principal, which is how I became homeless the first time, when my dad died. "You can do a desk job–you're not disabled," says SSD. "You have a film degree; do grunt work," says the job market…

  81. nik maknojia says:

    This whole system is made to legally rob you. If I am paying tax from my income every fucking year and from the money left after paying tax I buy a house it’s tax should be considered payed. Government gives us protection and justice in exchange of personal tax. What are we getting in exchange of property tax? Absolutely nothing.

  82. axe2grind911a says:

    It's simply a form of property theft. Over a long enough time period – depending on the tax rate – they have effectively taken your entire property.

  83. mama says says:

    This country is a joke

  84. V1nn13 D31g4d0 says:

    How can we abolish property tax???

  85. Bruce Snyder says:

    The US- corrupt to the core ???

  86. Paul Page says:

    Another neoliberal corporate democrat tax on hard working people.

  87. Paul Page says:

    It would be nice if the fucking democrats use property taxes to fund Medicare For All and tuition free college for everyone.

  88. Paul Page says:

    It’s already bad enough that housing prices have gone up 300% in the last 3 decades. But to force homeowners to pay ridiculously high interest home mortgages on top with an exorbitant property tax is devastating to say the least.

  89. Paul Page says:

    Market inflation and market capitalist price gouging is the worst kind of taxation. Because the market price increases strictly goes into the pocket of private corporate CEO’s and business men. It doesn’t go to things that makes society as a whole better. Like schools, health care for all, public roads, local law enforcement, firefighters, public non profit hospitals, etc

  90. Ben Smith says:

    The scandal is your ass is pushing to pass MORE fucking taxes! Property tax SHOULD NOT EXIST. Stop hating rich people. I dont have stocks, but i DAMN SURE dont want them to be taxed. And you can take the "government services" like school and shit, and shove it. I dont need it. Stop trying to make government bigger douchebag.

  91. CFC says:

    Tax the poor.. don’t touch the rich

  92. CFC says:

    Everything is a scam in this world controlled by the elites. Schools, education system, taxes, etc etc

  93. Ray Drapela says:

    Ad Valorem tax? Here in Texas we were to pay added value taxes. Tax on timber turned to lumber or crops value or mineral values. Republic of Texas was infiltrated and setup. Big question, private maintenance of public roads (as the Romans did it(planted olive trees on both sides of road and maintainer got the harvest))or preselected company that does all roads in United States?

  94. Mk.z says:

    You should not be taxed for anything you own, period. Not bonds, not homes, if its yours, its fucking yours. Instead, you're taxed from your income, you're taxed for purchases, you're taxed on what you own, and you're taxed on any piece of shit they can think of taxing you on, varying from 35-75% of effective taxation depending on where you live on the globe and how much you earn… This shit should seriously be stopped. And its always said that taxes are used for our own good, but are they? Because first of all, the government sector that keeps itself and all it does running is HUGE nowadays, and they get paid, obviously. How much of the money collected do you think is spent on wages for the government sector, renovation, upkeep, expansion BEFORE you even start putting anything out to the public? Next, most government services have no competition, so what reason they have to improve? And what reason do they have to spend efficiently, if each time they spend their budget in a year, they get more in the next? Of course there's regulatory bodies… But they are also governmental, and also operate on the same principle. Tldr fuck government and fuck taxation, minarchism or bust.

  95. Dorian Michel Armenteros Sanchez says:

    Does Bernie’s wealth plan addresses this professor ?

  96. Dano1947 says:

    Property is only wealth when you sell it.

  97. Dano1947 says:

    I've never liked the idea of paying tax on something I already own. You buy a car and you pay an excise tax, then you pay a second tax annually. It's totally obscene. If you don't pay, they can take your car or house, it's extortion. This proves government is corrupt.

  98. Dano1947 says:

    The rich control everything and everybody, they will never have to pay as much as you or I. The game is rigged.

  99. John Smith says:

    The name of the case starts with brown v quicken loans i believe where they paid apraisal reps like 750 bucks to jack up values intern cause of county official to jack up taxes.based on replacment costs and then the goods market 2×4 shingles bricks prices went up so now u have your solid ajudicated fact your tax apraisal is wrong enjoy

  100. Nathan Wall says:

    All property tax is wrong

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