Should those with income greater than $1 million be taxed to provide property tax relief for you.

@sree251 says That's a mixture of highly misleading and dead wrong.

NOPE! Not when you look at total tax burden. As Warren Buffet famously pointed out, His secretary Bosanek pays a tax rate of 35.8 percent of income, while Buffett pays a rate at 17.4 percent. Only cherrypickers who ignore payroll taxes would agree with your claim.

NOPE! Corporations do that. As Mitt Romney famously pointed out, for tax purposes, "corporations are people too!" And the matching taxes they pay for employees is merely a form of deferred compensation. It's part of the employee's salary, not some gift from rich people.

Again, that's corporations, not rich people. In fact, many rich people shift money to overseas tax shelters to avoid taxation. And corporations don't provide jobs out of the goodness of their hearts, they NEED workers to make money. And even though workers get more and more productive, their real wages stay stagnant. Why shouldn't workers share in the benefits of their increasing productivity??

In addition, rich people have many more assets to protect - not just personal property but all their domestic investments amount to property. If we were invaded and subjugated tomorrow, middle class people would lose ownership of their houses, but rich people would lose ownership of all their stocks, bonds, trusts, etc. They have a LOT more property; it's fitting that they pay more to protect it.

Note that compensation includes health insurance, matching payroll taxes, commissions, etc.

no.

if we want cuts. lets start with making big gov into small gov..

This is more an issue of buying up multiple properties just so the wealthy can limit the housing.

Housing should be a right within the limits of people's income. Not be a means to increase the wealth of the very rich.

Hence why the taxes are ineffective in limiting buying up properties.

Just make an out right law that only one house can be bought by a single individual or corporation for renting purposes.

Allowing renting of multiple units is not a solution to housing. Nor is taxes that can be avoided through itemized deductions.

The wealthy don't pay the same percentages anyway.

A bigger work force means more taxable income for a government as opposed to higher taxes which only serve to push income earners to find more ways to hide their true income.

A bigger work force would also mean you have a strong trading economy.

You don’t get a strong economy when you impose 200% tariffs on goods that come from your trading partners because they will impose huge tariffs on goods that you are trying to export to their country in response to the tariffs you imposed on them.

It should also be noted that DJT has NEVER filed a tax return for ANY of his businesses and most of those businesses are in NYS.

So, before you get all excited about rich people paying taxes, remember that DJT is one of those rich people.

That's a spin on the classic "the rich needs to pay their fair share of taxes" narrative in order to deflect attention away from the insanely wasteful gov't spending 💰💰💰.

It's a proposal by one state to rebalance taxes which have become skewed. Would have been simpler just not to have given income tax breaks to the wealthy in the first place, but any attempt to make taxation less regressive should be welcomed 👍

You must be in Illinois. It's an advisory referendum, so it's not binding. A similar one in 2020 was rejected by the voters. If this one passes, the state legislature would have to pass a law, then it would go back to the voters to amend the state constitution. Illinois has the second-highest property taxes in the country, and many people have seen their taxes go up this year, so it might do well.

ALL should pay their fare share.
No tax loopholes.

I don't think it matters what approach to taxation is used, someone will always complain about it... And often with good reason..i don't think I've ever heard of one that falls fairly on everyone's shoulders

What is wrong with the richest Americans paying their fair share? Jeff Bezos pays $0 in income tax despite making so much money that the human mind literally cannot fathom it.

No incentive to invest which increases tax revenue

Yeah, then those who have three mansions yet decried the 1%ers to assuage the OWS movement; and is now a 1%er too should provide property tax relief.

No, multi millionaires have enough expenses