LMAO these are very low taxes. You have a $2.8 Million dollar house and expect what? It's a 1% tax. Also the lady saying the house hasn't been updated in 40 years: [News Flash] The house isn't what's valuable. It's the land that it sits on. That's why people are buying the neighbors land for MILLIONS of dollars, and knocking the house down. The lands value has probably grown 300%-400% since she moved in, but we're supposed to feel bad because she has to pay taxes on it.
I can't read the article because bloomberg says it has detected unusual activity...
If the person has been there 40 years, the person is very likely retired. Retired people might be on fixed income and so forth. 1% of 3 million is $30,000 per year. Compare this to other areas where property is cheaper and one might be paying $3,000 per year for property tax. I am all for paying fair taxes, but I think one should be able to continue living in ones home and not be forced out due to huge property tax increases. Not sure what the right balance is.
How much inflation has Fed's intervention after the subprime crisis caused? We have 40 years of data showing that there is zero correlation between inflation and M0. And there's actually no correlation between the money supply at large and inflation in the US in that period either!
> Milton Friedman said in 1970, “Inflation is always and everywhere a monetary phenomenon.”
He was wrong, and “little has changed since then”.
Most of today's inflation is supply-chain-driven, and the differential between US and outside of the world is caused by two things:
- how strong the US economy was before the crisis
- the stimulus package, intended to bounce the economy back as strong as it was, which is impaired by the aforementioned supply-chain issues.
