[quote="CVPost-rrlund"](quoted from post at 11:07:31 03/20/19) What can I say. Some think we need "tax breaks for the rich" to encourage business to expand. That was what encouraged all those building to be built in the first place,they were depreciable assets to be written off. Now that they're depreciated out,the rich need more tax breaks so save them from paying property taxes. This is what some of you preach in favor of every day.[/quote]
So you tax the snot out of them and when they are broke then what? Who ya going to tax then?
Look back. When taxes on the rich were so high? No one actually paid those rates. There were so many loopholes that most of the wealthy paid 15% or less. Back in those days the tax burden really was on the middle class. Tax em too much and they leave. To the point that CA is trying to figure out a tax on the rich who move out of CA because of the taxes. NY is auditing rich people moving in a move that can only be classed as profiling. Profiling because if you are poor or middle class leaving NY that doesn't trigger an audit. France tried a 70% tax on the wealthy a few years ago and the wealthy started renouncing their citizenship and moving out of France.
The stores that have closed did it to themselves. Sears? The continued to pay outlandish leases the the mail order folks themselves completely missed the boat for online sales. I'm really surprised that Herburger's lasted as long as they did. Last 10 or so years they were open the people I knew who shopped there only bought off the sale racks.
I don't see much if any commercial space construction going on now. So people are not building stuff as a tax dodge. If so they would still be building.
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