PUBLISHED ON OCTOBER 16, 2011

Local governments in the US (cities, towns and villages) rely chiefly on property taxes to fund their activities (public education, police, fire protection, etc.). However not all property is taxed: only land, buildings, automobiles and a few other items of "real" or "tangible" property is actually taxed. The kind of property that is UNTAXED in the US is "intangible" property: chiefly that property in the form of stocks and bonds. No level of government taxes that property. As that kind of property is owned chiefly by the richest among us, exempting intangible property from taxation is a gross bias toward the rich in our system: a scandal always and a special scandal in a time of service and employment cutbacks by cities and towns claiming they "have no money."

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Comments

    • D90Girl
      D90Girl

      Tax the rich, built the wall !

      about 5 hours ago
    • Erin
      Erin

      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!

      about 20 hours ago
    • Justin Ferguson
      Justin Ferguson

      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.

      about 11 days ago
    • Edward Dodson
      Edward Dodson

      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
      www.cooperative-individualism.org

      about 18 days ago
    • Thomas Hofmann
      Thomas Hofmann

      Well said

      about 26 days ago
    • GamersAnonymous4me
      GamersAnonymous4me

      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,.

      about 26 days ago
    • Motorcitymadman
      Motorcitymadman

      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.

      about 1 month ago
    • Mary Jane
      Mary Jane

      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😟

      about 1 month ago
    • attovishnu
      attovishnu

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

      about 1 month ago
    • Thomas Smith
      Thomas Smith

      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.

      about 1 month ago
    • Michelle Greenleaf
      Michelle Greenleaf

      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

      about 1 month ago
    • Robert Moriarty
      Robert Moriarty

      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!

      about 1 month ago
    • Luis bud
      Luis bud

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

      about 1 month ago
    • Megan Lee
      Megan Lee

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

      about 1 month ago
    • thesandboxbandit !
      thesandboxbandit !

      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.

      about 1 month ago
    • Men In Black
      Men In Black

      We need to end any real state property tax then.

      about 2 months ago
    • I 80 MONFORT of COLORADO
      I 80 MONFORT of COLORADO

      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

      about 2 months ago
    • I 80 MONFORT of COLORADO
      I 80 MONFORT of COLORADO

      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.

      about 2 months ago
    • I 80 MONFORT of COLORADO
      I 80 MONFORT of COLORADO

      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.

      about 2 months ago
    • I 80 MONFORT of COLORADO
      I 80 MONFORT of COLORADO

      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.

      about 2 months ago
    • Joseph Traina
      Joseph Traina

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

      about 2 months ago
    • Sunny shah
      Sunny shah

      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.

      about 2 months ago
    • Sharon Downs
      Sharon Downs

      Right? We're taxed to death.

      about 2 months ago
    • Mishkin Faustini
      Mishkin Faustini

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

      about 2 months ago
    • I 80 MONFORT of COLORADO
      I 80 MONFORT of COLORADO In reply to Mishkin Faustini

      Verified Warnings From Former U.S. Presidents About the
      “Invisible Government” Running the U.S. With “No
      Allegiance To the People”
      1938: With the Constitutional Republican form of Government now dissolved, the receivers of the Bankruptcy (Federal Reserve Bank) 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.

      about 2 months ago
    • ABQ SKY
      ABQ SKY

      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.

      about 2 months ago
    • Dirk Simmang
      Dirk Simmang

      to the 560 thumbs down. ..
      DAMMN YOU ARE IGNORANT. ...
      YOU ARE BEYOND HELP..

      about 2 months ago
    • Jimmy Somethin
      Jimmy Somethin

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

      about 2 months ago
    • Jimmy Somethin
      Jimmy Somethin

      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.

      about 2 months ago
    • Sunny shah
      Sunny shah

      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.

      about 3 months ago
    • Tim O'Brien
      Tim O'Brien

      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 ..

      about 3 months ago