Heath's Blog

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Taxes Yesterday, Today, and Tomorrow

The tax numbers below are interesting to me.  In this business of real estate we play with numbers all the time.  While the media says life under the current political leaders is terrible, the numbers make me look back in time, and scan the future for what to expect.

The data comes from The Tax Foundation.  There are quoted endorsements from prominent people, dare I say testimonials in webspeak, on the foundation's home page.  There is an interesting menu link on its homepage that is for Presidential Candidate Tax Plan Comparison

Taxes under Clinton 1999                   Taxes under Bush 2008
Single making 30K - tax $8,400             Single making 30K - tax $4,500
Single making 50K - tax $14,000          Single making 50K - tax $12,500
Single making 75K - tax $23,250           Single making 75K - tax $18,750
Married making 60K - tax $16,800       Married making 60K- tax $9,000
Married making 75K - tax $21,000       Married making 75K - tax $18,750
Married making 125K - tax $38,750     Married making 125K - tax $31,250

(from taxfoundation.org )

Once again, those who control the reporting, control the minds of those who don't want to, can't, won't, are afraid to, look for real data.  Real estate isn't the only place that you find the 5 Monkey Principle at work.

Heath Coker, Associate Broker
Robert Paul Properties
www.CapeGroup.com / capegroup@capegroup.com
508-274-5613  Licensed in MA
Its a beautiful day on Cape Cod!
@CapeGroup  Skype: heath.coker

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Comments

You would think something like this would be a central theme in the Republican campaign! Thanks for posting.
Posted by Sara Bonert, Real Estate Internet Marketing (Zillow) over 11 years ago

Hi Sara.

I don't think the Republicans are worried about the Clintons just yet.

Posted by Associate Broker Falmouth MA Cape Cod Heath Coker, Heath Coker Robert Paul Properties Falmouth MA (http://www.CapeGroup.com & http://www.REindex.com) over 11 years ago

You are comparing democrats- the Bill Clinton administration of 8 years of control vs the next Bush republican 8 years of Republican control. Of course the standard deductions thru the years have gone up as well. But is the point that you are trying to make is that if a Democrat gets elected next year our taxes are going up? I think whoever gets elected are taxes are going up! And yes the 5 or more Monkey real estate Principle is alive and well here in Falmouth Real Estate!

 

Steve White sdw1

Posted by Stephen D White, E-Pro, ABR Cape Cod Real Estate (SDW Realty of Cape Cod) over 11 years ago

Before I comment, let me say that I am not registered as a Republican or a Democrat.  I vote for whoever would make the best president.

My next thought is about an HOA's financials I just reviewed.  They have no money in the bank, they are upside down in debt, and they are spending money like there is no tomorrow.  This summer they're going to repaint the whole building because they don't like the color.

And that's exactly what our current situation in the United States is.  Spend more, tax less.

Try it out in your business for a while and tell me how it goes.  Spend more money than everybody else, then charge half price for your listings.  ;-) 

Posted by Tony Fantis, Realtor,Principal Broker - Salt Lake City (Fantis Group Real Estate) over 11 years ago

Participate