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If You Are Considering Buying A House, Read This First

Tyler Durden's picture




 

In September of 2011, when looking at the insurmountable debt catastrophe that the world finds itself (which has only gotten worse in the past several years) we warned that "the only way to resolve the massive debt load is through a global coordinated debt restructuring (which would, among other things, push all global banks into bankruptcy) which, when all is said and done, will have to be funded by the world's financial asset holders: the middle-and upper-class, which, if BCS is right, have a ~30% one-time tax on all their assets to look forward to as the great mean reversion finally arrives and the world is set back on a viable path."

Two years later, the financial asset tax approach, in the form of depositor bail-ins, was tried - successfully (as there was no mass rioting, no revolution, in fact the people were perfectly happy to accept the confiscation of their savings) - in Cyprus, further emboldening the status quo, in this case the IMF, to propose, tongue in cheek, that the time has come for the uber-wealthy to give back some ("it's only fair"), and to raise income taxes through the roof (which of course would mostly impact the middle class as the bulk of current income for the 1% is in the form of dividend income, ultra-cheap leverage extraction on assets and various forms of carried interest).

And now, a new tax is not only on the horizon but coming fast and furious to allow the insolvent global regime at least one more can kicking: one which will impact current and future homeowners across the world.

But first, let's step back.

Last week, the IMF did what only the IMF could do: come to the realization that we proposed in 2009, and even the Davosites discussed earlier this year: namely that the middle class is effectively an endangered species, and rapidly on its way to wholesale extinction, and that the polarity between the rich and poor has never been greater. The IMF concluded, with the panache that only this comical organization is capable of, that income inequality "is weighing on global economic growth and fueling political instability."

The WSJ reports:

The International Monetary Fund's latest salvo came Thursday in a top official's speech and a 67-page paper detailing how the IMF's 188 member countries can use tax policy and targeted public spending to stem a rising disparity between haves and have-nots.

 

IMF Managing Director Christine Lagarde has made the issue a high priority for the fund, warning—along with some of the fund's most powerful shareholders—that inequality is threatening longer-run economic prospects. Last month, Ms. Lagarde said the income gap risked creating "an economy of exclusion, and a wasteland of discarded potential" and rending "the precious fabric that holds our society together."

The IMF's solution? The same as that of socialists everywhere: redistribute the wealth... because apparently socialism works every time, all the time, with stellar results.

"Redistribution can help support growth because it reduces inequality," David Lipton, the fund's No. 2 official and a former senior White House aide, said in a speech Thursday at the Peterson Institute for International Economics. "But if misconceived, this trade-off can be very costly."

 

"There's a sense that the burdens of the crisis have been unevenly distributed, that the middle classes and the poor have footed more of the bill of the crisis than the economic elite," said Moisés Naím, a senior economist at the Carnegie Endowment for International Peace and Venezuela's former trade minister.

Oh is there a sense? Is that why the Fed has halted its QE program which takes from what little is left of the middle class and gives to those who already have more money than they can spend in several lifetimes. Guess not.

So how does the IMF suggest going about this wholesale, global socialist revolution? Simple: the way we explained nearly three years ago.

The IMF's latest paper doesn't prescribe country-specific measures, but it does offer several proposals that are likely to be controversial. Most notably, the IMF says many advanced and developing economies can narrow inequality by more aggressively applying property taxes and "progressive" personal income taxes that rise as incomes increase.

 

The median top personal income-tax rate across the globe has halved since the 1980s to around 30%. But the IMF says "revenue-maximizing [personal income tax] rates are probably somewhere between 50% and 60% and optimal rates probably somewhat lower than that."

We wouldn't be too concerned about income taxes. After all, one needs to have a job to have income, and as everyone knows by now, jobs also are on their way to extinction, and every central bank everywhere will merely print the money needed to cover the income tax shortfall, leading to that "other" alternative to fixing the debt problem: global hyperinflation (with a little precious metals confiscation on the side: just like FDR did in the 1930s).

But going back to the original point, here is why those in the market for a house should be worried. Very worried. From page 40 of the IMF's paper on "Fiscal Policy and Income Inequality":

Some taxes levied on wealth, especially on immovable property, are also an option for economies seeking more progressive taxation. Wealth taxes, of various kinds, target the same underlying base as capital income taxes, namely assets. They could thus be considered as a potential source of progressive taxation, especially where taxes on capital incomes (including on real estate) are low or largely evaded. There are different types of wealth taxes, such as recurrent taxes on property or net wealth, transaction taxes, and inheritance and gift taxes. Over the past decades, revenue from these taxes has not kept up with the surge in wealth as a share of GDP (see earlier section) and, as a result, the effective tax rate has dropped from an average of around 0.9 percent in 1970 to approximately 0.5 percent today. The prospect of raising additional revenue from the various types of wealth taxation was recently discussed in IMF (2013b) and their role in reducing inequality can be summarized as follows.

  • Property taxes are equitable and efficient, but underutilized in many economies. The average yield of property taxes in 65 economies (for which data are available) in the 2000s was around 1 percent of GDP, but in developing economies it averages only half of that (Bahl and Martínez-Vázquez, 2008). There is considerable scope to exploit this tax more fully, both as a revenue source and as a redistributive instrument, although effective implementation will require a sizable investment in administrative infrastructure, particularly in developing economies (Norregaard, 2013).

And there you have it: if you are buying a house, enjoy the low mortgage (for now... and don't forget - if and when the time comes to sell, the buyer better be able to afford your selling price and the monthly mortgage payment should the 30 Year mortgage rise from the current 4.2% to 6%, 7% or much higher, which all those who forecast an improving economy hope happens), but what will really determine the affordability of that piece of property you have your eyes set on, are the property taxes.

Because they are about to skyrocket.

 

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Sat, 03/15/2014 - 19:40 | 4553225 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

Never enough.

Sat, 03/15/2014 - 19:42 | 4553231 john39
john39's picture

fucking thieves.

Sat, 03/15/2014 - 20:02 | 4553280 Manthong
Manthong's picture

If you own property in or near a large metro in the US, you are the target.

My property tax exceeds any mortgage payment I have ever had (reasonably nice older property, but no mansion).

This is now a temporary residence and state for me.

Sat, 03/15/2014 - 20:05 | 4553300 WayBehind
WayBehind's picture

Well, bad news for my tenants. The higher property tax will come out of their packets. You tax us = they pay. Lets call it wealth re-distribution.

Sat, 03/15/2014 - 20:28 | 4553400 negative rates
negative rates's picture

Man, and all that time I though it was interest rates on the property.

Sat, 03/15/2014 - 21:19 | 4553575 SafelyGraze
SafelyGraze's picture

step 1: raise tax rate to 70% on the few who make more than 250k

step 2: wage inflation! every employee starts making more than 250k

step 3: 401k has performed *fantastically* well .. so retirees are making more than 250k

problem solved

Sat, 03/15/2014 - 21:35 | 4553610 Anusocracy
Anusocracy's picture

"fucking thieves"

That's one of the problems: they reproduce.

Sat, 03/15/2014 - 21:59 | 4553658 G-R-U-N-T
G-R-U-N-T's picture

"and every central bank everywhere will merely print the money needed to cover the income tax shortfall, leading to that "other" alternative to fixing the debt problem: global hyperinflation (with a little precious metals confiscation on the side: just like FDR did in the 1930s)."

Wrong, twill be 'deflation' that kills the beast, however much of your impressions I agree with!

Sat, 03/15/2014 - 23:49 | 4553899 TruthInSunshine
TruthInSunshine's picture

I have clients who are white collar slaves. They are killing themselves working 60 to 70 hour work weeks (each) in their late 30s and early 40s making a combined income of 180k to 250k, 35% to 40% of which then goes to pay federal and state income taxes, and then there's the consumption taxes on all that they purchase...from the pianos to the Porsches...

...and then there's the 12k just in property taxes on that cheaply built 3,600 square foot McMansion (made of 1 5/8"x 3 1/2" studs & builder grade cheap ass windows) that they "had to have" for fear of being ostracized in their circle of fake friends.

And they wonder why they can't save any money, have enormous credit card bills, and are constantly tempted to dip into their IRAs/401ks...

The saddest part is they are almost universally miserable in their quest to work themselves to death at kind they despise to accumulate shit that not only brings them no lasting pleasure, but complicates their lives and keeps them as hamster debt slates running furiously on that big wheel of debt in their cages.

I have 1/2 to 1/4 the possessions they do (being things of true and lasting high quality that I own because of true passions, not peer pressure, that I will pass down to my children, most of which are of such high quality that they will pass down to their children), have a far higher net worth (0 debt and a large pool of liquid savings) than they most likely ever will, I love my vocation, and I don't wake up bemoaning my life each morning stressing the fear of what lay ahead every day as they do - and I'm their age or slightly younger.

They are killing themselves in a myriad of ways, physically, spiritually & emotionally, to live lives of cheap & hollow existence, to support the decaying system - to help keep it propped up, and to enrich people who despise them and their children.

It's so incredibly ironic.

Sat, 03/15/2014 - 23:50 | 4553908 FredFlintstone
FredFlintstone's picture

Preach it, brother. Once I was lost...

Sun, 03/16/2014 - 00:37 | 4553996 Richard Chesler
Richard Chesler's picture

Make that 44.7 fucking percent.

Fucking thieves is right.

 

Sun, 03/16/2014 - 01:19 | 4554065 Ray1968
Ray1968's picture

Folks in Northern Illinois are just going to burn down their houses. You can't tax our property any more than it is now. It is getting ridiculous.

Sun, 03/16/2014 - 03:02 | 4554123 DontGive
DontGive's picture

That would be great if they leveled out the housing supply a little. Should be favorable for our real estate holdings!

All kidding aside. Not gonna happen without putting a lot more stress on the general market. Renters gotta live some where. Those rentals are owned by someone. If the fundamentals don't work, I'm going to just tell you right now that if you think the landlord will keep a property long term and lose money, you're fooling yourselves. Unless you float a portfolio, and take that cash from the muppets and sell out right before cashflow becomes a problem, then maybe the Tylers will write about you someday here on ZH.

Unless we start turning the housing supply into common housing for the slaves. By then, we will be - use your creative imagination here..

Sun, 03/16/2014 - 06:12 | 4554299 chumbawamba
chumbawamba's picture

Here's the best part:

...although effective implementation will require a sizable investment in administrative infrastructure."

Right.  Pass legislation to create the bureauracy and then bill the taxpayers to pay for it.

Slaves on a plantation.

I am Chumbawamba.

Sun, 03/16/2014 - 08:33 | 4554416 blindman
blindman's picture

the money system was implemented to replace
the human chattel system and it worked.
when people understand that, and a few other
important principles and live by them, then
everything is gonna be all right. ...al green
http://www.youtube.com/watch?v=aD4IZ6O45G4
.
money as debt at interest compounded in a fractional
reserve ponzi power scheme doesn't work?
who would have guessed integrity problems would develop
in such a system? sheesh ..
.
Al Green - A Change Is Gonna Come
http://www.youtube.com/watch?v=3Nua5klb4Os

Sun, 03/16/2014 - 08:53 | 4554444 blindman
blindman's picture

fraudulent induction of debt as money is worse than
worthless, it leads to "worsity"^tm-pjb.
(war)
.
Take Me to the River - Al Green
http://www.youtube.com/watch?v=KEasxe8hDs4
.
http://www.youtube.com/watch?v=A9-gNNFwVmQ
.
http://www.youtube.com/watch?v=6ar2VHW1i2w

Sun, 03/16/2014 - 17:24 | 4556156 Offthebeach
Offthebeach's picture

What I see.

Walks at night, plenty of unoccupied houses. Many bank owned for 4+ years. Inspection notices on windows. Also, old retired folks crushed. Their house well kept, but dark early at night, save maybe a TV.
Common multi genational living by working class.
People putting unpermitted walk out basement apparments, above garage, even doen Because Bil-Co basement steps. I ve seen illegal appartment in small strip mall shops. Renting parking space and power for old Winnebagos. Last week a article in the Boston Globe of boat live aboards.

I think that housing is continuing to be pressured for the sub 1%.

Sun, 03/16/2014 - 00:08 | 4553946 UselessEater
UselessEater's picture

and these decent hard working folk are the least likely to take anything written by the IMF, UN Ag21, BIS, FSB etc etc seriously - they are earnestly struggling to prove a (historical) point of self-worth and self-reliance that is being woven into a web of debt-control laden with new tax burdens. At some point people have to separate their self worth from a paradigm designed to increase future debt and tax obligations. Decent non-violent people are being drawn very slolwy into the dramatic EU riot situation so slowly the drama will unfold without the riots. Instead it is just a quite increasing suffering by those who are too proud to show their suffering, we know this because the EU has been a test case -not one protest or riot has reversed or slowed the globalist agenda.

 

Sun, 03/16/2014 - 00:24 | 4553972 TruthInSunshine
TruthInSunshine's picture

Debt is the currency of slaves, and that's how TPTB have kept production of first that powers their mills at necessary levels - marketing, advertising deception, (think DeBeers as a classic example of a masterstroke of this technique), and the selling of a dream that a) exceedingly few will ever achieve even as it is falsely portrayed, b) despite this, work themselves into decay to try to reach for it, ruining their lives & relationships in the process, and c) even for the exceedingly few who "capture" the dream as marketed, find that it's devoid of any true substance that is able to provide them true happiness, wisdom or spiritual nourishment.

It may be easier to discover and hone one's passions with financial wealth, but the attainment of financial wealth won't guarantee this or any level of happiness without a solid existing foundation.

The ultimate tragedy is that so many become debt slaves, forever, in pursuit of what is the wrong "dream," and not even that which is their true dream ( the one that is marketed & astroturfed in such sophisticated ways).

Sun, 03/16/2014 - 00:39 | 4553992 maskone909
maskone909's picture

Nicely put. Reminds me alot of goodwill huntings job interview with the nsa.
http://youtu.be/UrOZllbNarw

I think i am going to buy a ducati 1199. I am going to hit the road and never look back! Sick of this truman show/matrix

Sun, 03/16/2014 - 02:49 | 4554111 European American
European American's picture

From personal experience, not the bike to hit the road with (unless you want to make a quick get away). Better off, in comfort, with a BMW 1200 GS Adventure. More optionis that way.

Sun, 03/16/2014 - 03:30 | 4554153 maskone909
maskone909's picture

Lol thanks man youre right

Sun, 03/16/2014 - 03:06 | 4554129 UselessEater
UselessEater's picture

TIS... debt seems to be a recent generation thing - look at international H/H debt charts and most seem to take off almsot vertically in the 90's.

How did this get so universal?

Sun, 03/16/2014 - 10:27 | 4554648 moonshadow
moonshadow's picture

@TIS: and just what IS that 'solid existing foundation' for you? finish...

Sun, 03/16/2014 - 13:27 | 4555150 TruthInSunshine
TruthInSunshine's picture

It's subjective. Most people only have a few or maybe even only one
true passion in life.

The significance is that regardless as to whether one's passion(s) is/are rebuilding a particular type of motor, chess, a charitable cause, hunting, philosophy, medicine, engineering or farming, it stems from an inner, deep love of something that is innate and brings an individual true satisfaction.

My point is that being a debt slave, due to societal pressure & the chicanery of marketing "professionals," working in a field and/or at a job that one despises (with people they dislike), in a quest of accumulating a large quantity of useless things, that bear no nexus to one's passions, and to support the decaying system in doing so, not only helps keep a sick system propped up, and enriches people who despise them and their children (thus being ultimately & sadly ironic) -

- but it ALSO - on top of that - hinders the pursuit of one's true passion(s).

Sun, 03/16/2014 - 13:28 | 4555243 logicalman
logicalman's picture

I don't own a car. I cycle - I'm good for 30 miles on just about any day of the year and often do 50.

On my way into work, I am often passed by a guy in a fancy Mercedes. I was next to him at the lights a couple of weeks ago.

He looked at me in a way that suggested he felt rather superior to me (it was -30º). I looked back with a similar expression.

He probably thinks he is better than me, because he 'owns' a Merc. I think I'm doing better than he is for the same reason.

Sun, 03/16/2014 - 14:05 | 4555403 TruthInSunshine
TruthInSunshine's picture

dt

Sun, 03/16/2014 - 14:12 | 4555407 TruthInSunshine
TruthInSunshine's picture

No to mention, what is the state of your cardiovascular health versus his?

He now has to go out of his way to find extra time to dedicate to "work out" just to try and hope to come close to your likely physical health superiority.

It's statistically more likely he pops lipitor in the false belief that cholesterol levels, rather than sedentary lifestyle, cortisol & stress, cause inflammatory disease of the cardiovascular system - all on the advice & prescription pad of an "educated," licensed (co-opted & compromised) physician.

Sun, 03/16/2014 - 14:16 | 4555468 logicalman
logicalman's picture

I'll be 60 next year.

Cholesterol level, last checked, was about perfect.

Blood pressure, to quote my doc, not seen that low very often in someone standing up.

No meds.

But for me, it's about life - I'll take quality over quantity.

 

Sun, 03/16/2014 - 14:24 | 4555506 FredFlintstone
FredFlintstone's picture

Good for you. You are a wiser man. Some day it may dawn on that guy. Second wife cleans him out, his kids hate him... one day he may think of you in a quiet moment and may be inspired to change his life.

Sun, 03/16/2014 - 15:26 | 4555774 ChanceIs
ChanceIs's picture

I love my Mercedes.  It's a 1995 E300 doesel.  Gets 37 mpg on the highway crusing at 65 mph with the AC on.  I am rather POed right now because the AC is out and it costs about $3K to tear the dash apart and replace the evaporator.  It probably isn't worth it, so I might have to go get a new(er) car.  Why am I POed?  Because it is only 19 years old and has only 198K miles.  I sold my previous one when it had 340K miles on it.

Mind you, I would never buy a new Mercedes.  They are in the mode now of adding worthless computer gadgets which break and cost a fortune to fix.

IMO one isn't showing so much smarts unless you drive old Mercedes diesels.

I don't know about bucycling.  Ages ago I used to do it to get to wrok just to get my exercise - had nothing to do with being green.  Around Washington DC, one can actually get places faster than by using a car.  The suit culture in Washington is slowing morphing into the sweaty bicycler look.  But time is money, and if you can get there fasster and safr in a car, you should do it.  Something about Adam Smith's division of labor.

Sun, 03/16/2014 - 14:19 | 4555487 FredFlintstone
FredFlintstone's picture

It is conditioning. My formative years were during the Reagan "Revolution". All of us go-getters were going to graduate from college, make our fortunes, marry the trophy and then play golf at age 50 until we died. That was the "dream".

The conditioning comes from all around: family, friends, school, government, media of course.

Some of us woke up others are still going at it. I have been fortunate enough to be able to play golf hours and days on end at a relatively young age. It gets boring real quick. I have seen guys on the course that have worked their entire lives for that day. 65 years wasted in pursuit of a hazy dream, not well-thought out.

Some dream of that beach house or convertible. Again I have been fortunate enough to enjoy a convertible and a house near the beach. None of it is worth having the nose to the grind stone for 65 or even 55 years. As for the trophy wife thing, I don't even enjoy sex that much anymore. I am not even 50 yet.

Solomon I think or maybe David who wrote many of the proverbs or Ecclesiates? Nothing new under the sun? Not a lot to live for if you are pusuing material things.

Sun, 03/16/2014 - 18:17 | 4556348 free_lunch
free_lunch's picture

You people are the reason i visit ZH. Reading your comments helps me to maintain my psychological health. Sadly the bulk of the people i"m surrounded with professionally and socially are part of the brainless sheep who's horizon is limited to sports, drinking and accumulating useless stuff to impress others with.

When i visit ZH and read the comments it makes me feel less mentally isolated. Sadly we are surrounded by a majority of superficial arrogant narcists with a lack of moral and ethical principles priciples. I often ask myself what the f**k i am doing here in this crazy rotten world.

I was teached as a kid, that honesty and kindness will be rewarded, while thieves and lyers would be punished.

Man what a shock growing up was for me.. Finding out the world works just the other way arround. The bigger the crook, the greater the reward. People actually worship lyers and thieves while they laugh with honest people that actually have some principles.

But i still live following the principle of my childhood, because it's the only way i can live with myself.

I've taken a few IQ test in my teens that showed that my IQ was a bit higher then average. Later on i realized that this was the explaination for the strange feeling of not fitting in, i had as a kid/teen. I don't have any feelings of superiority to other people less gifted, but i just don't share their (in my view) superficial intrests. Visiting ZH and reading your thoughts is like charging my batteries. It doesn't change the real world, but it makes it a little easier to bear. Trouble shared is trouble halved..

thxs

Sun, 03/16/2014 - 13:45 | 4555323 fockewulf190
fockewulf190's picture

$1.2 trillion in student debt just within the USA alone.  Fiscal slavery has become the new form of concentration camp. "Arbeit Macht Frei" was a joke back in the 40´s, and is just as much of a joke today, only today you no longer need the physical fences, barbed wire and guards to get the prisoners to work themselves to death.  The power of the pen has become way more powerful than the MP-40 ever was.

Sun, 03/16/2014 - 14:32 | 4555560 daveO
daveO's picture

'Work Makes You Free' was officially replaced by 'Debt makes You Happy' in 1971. Ask any Baby Boomer, they'll tell you.

Sun, 03/16/2014 - 06:37 | 4554310 Element
Element's picture

Somehow even zero hedge seems to have forgotten that these IMF officials pay no taxes.

Yet all they do is tell impoverished people how they have to pay expanded taxes, to help the poor banksters.

Now I'm not an advocate of violent revolutions, but if someone ever, you know, got one of those vile hypocritical parasitic vermin in their sights at some point, I'd sorta understand if you suffered a sudden sneezing fit, and accidentally blew a fair sized chunk out of the side of their head.

 

Hey, it happens.

Sun, 03/16/2014 - 13:30 | 4555251 logicalman
logicalman's picture

They know this.....

Hence gun control.

Sun, 03/16/2014 - 00:19 | 4553962 FreedomGuy
FreedomGuy's picture

Herein lies the potential problem. If they say "Screw it!" and go to lower income levels the government loses. They move to lower tax brackets or even become a net tax loss in the extreme. The higher the taxes the more likely that becomes. This is why heavily redistributed economies fail in short order and black markets arise in the same places.

I personally am considering a similar downsizing path. First, it can kill you over time and second it frees you from many of the government chains.

Only proles are free.

Sun, 03/16/2014 - 00:31 | 4553985 FredFlintstone
FredFlintstone's picture

I made one shift down at age 46. Took a cut in pay equal to what the median family makes in a year. Looking to make another big drop once the rest of my kids get out of college. Don't notice it since there are less taxes to pay.

Work your azz off for some colored paper. Are we all insane or what?

Sun, 03/16/2014 - 01:14 | 4554060 RafterManFMJ
RafterManFMJ's picture

HeeHeeHee

...and when the time comes for University - ooooh, sorry you don't qualify for any aid, please pay retail while you subsidize young Shaquuena, who gets a free ride.

It's hilarious the dullards cannot see just how much of a milch cow they are, and they pay from every angle.

Me, I live in a 1921 brick on cut stone Victorian with oak floors that you couldn't build today because the craftsmen no longer exist.

Beveled glass, pocket doors, ornate woodwork...and an all in cost (taxes,mort,insurance) about 7% of my monthly gross.

Da wife gets to stay home all '50s style - the only one of my circle of friends to do so; the rest have big houses, fancy cars, big student loans.

My goal is to live so far below my means I need a periscope to find my way to my car in the morning.

Sun, 03/16/2014 - 02:53 | 4554115 Squid-puppets a...
Squid-puppets a-go-go's picture

I too downsized.

gave up the 9 to 5, sold my house , out of debt and put the equity into preshymetlz.

happier by day and sleeping better by nite

 

 

Sun, 03/16/2014 - 01:46 | 4554079 DaveA
DaveA's picture

How much time does a man have for shopping when he works 60-70 hours a week? If you know a man who earns 200k but can't make ends meet, he may have a spending problem, but it's more likely that his wife has a spending problem. And if he dumps her, he'll be working 90 hours a week to pay the alimony she needs to "maintain the lifestyle to which she has become accustomed."

Sun, 03/16/2014 - 13:32 | 4555268 logicalman
logicalman's picture

Is that the voice of experience?!

Sun, 03/16/2014 - 13:38 | 4555299 Hulk
Hulk's picture

amazon...

Sun, 03/16/2014 - 02:54 | 4554109 Kprime
Kprime's picture

No income, no bank, no cell phone. No house payment. No rent. no car payment. no debt. 3 years now.

JOHN LENNON

Watching the Wheels

Album Double Fantasy released in 1980.

 

People say I'm crazy doing what I'm doing

Well they give me all kinds of warnings to save me from ruin

When I say that I'm o.k. well they look at me kind of strange

Surely you're not happy now you no longer play the game

 

People say I'm lazy dreaming my life away

Well they give me all kinds of advice designed to enlighten me

When I tell them that I'm doing fine watching shadows on the wall

Don't you miss the big time boy you're no longer on the ball

 

I'm just sitting here watching the wheels go round and round

I really love to watch them roll

No longer riding on the merry-go-round

I just had to let it go

 

Ah, people asking questions lost in confusion

Well I tell them there's no problem, only solutions

Well they shake their heads and they look at me as if I've lost my mind

I tell them there's no hurry

I'm just sitting here doing time

 

I'm just sitting here watching the wheels go round and round

I really love to watch them roll

No longer riding on the merry-go-round

I just had to let it go

I just had to let it go

I just had to let it go

Sun, 03/16/2014 - 03:06 | 4554128 merizobeach
merizobeach's picture

Good for you, bro, and thanks for the Lennon.

Sun, 03/16/2014 - 06:41 | 4554318 Wile-E-Coyote
Wile-E-Coyote's picture

They are killing themselves in a myriad of ways, physically, spiritually & emotionally, to live lives of cheap & hollow existence, to support the decaying system - to help keep it propped up, and to enrich people who despise them and their children.

Couldn't agree more. Fuckem, I have no sympathy for them. When this system collapses they will be the last to know and the first to lose everything.

I know somone who I grew up with who was a good person, he suddenly changed disowned all his old friends, changed his accent, created a new past for himself. He is on the hamster wheel at full tilt. From what I can gather he is miserable and unfullfilled. Maybe one day he will realise what has true value; family, health and good friends. Everything else is BS.

Sun, 03/16/2014 - 12:28 | 4555001 Graph
Graph's picture

2008 crash was a blessing for me and the the great beginig of new life that I enjoy now.

In my early years in US, I worked a second job to clean some of the cards the we had and to save for our first home downpayment. I was given an office key as work was over the week ends. Not once, late at Saturday nights I would walk to my modest Honda and next to it was allways parked a Porche and it's owner, young cocky guy, was still working. For him it was, apparantly, a life style.

Now...later I too fell for "hard work" mantra. Nothing wrong with that, up to the point,  other that all that one worked for can be taken away with managed machinations of the elite on one side.

On the other side: How much of one's life energy and is it worth on grand scheme, just to have, say, all maintaned by somebody else perfectly manicured lawn and sparkling pool?

 

Sun, 03/16/2014 - 13:36 | 4555204 TruthInSunshine
TruthInSunshine's picture

Hard "work" in the true pursuit of something that one loves, and is value-additive to one's life, is a blessing.

Hard work in the pursuit of empty things & useless vessels, in a sad attempt to earn the false admiration & meaningless platitudes of a fickle & shallow circle of "friends" and the fleeting & even more empty, collective expectations of an advertising-conditioned society, is a curse.

Sun, 03/16/2014 - 17:51 | 4556265 Graph
Graph's picture

My "hard work" was dedicatedto exactly to that "quality" part. Bit out of topic, I allways wondered that guy from the "Pawn Shop" NEVER bought anything for himself and just because he simply loved it. Every time it was a purchase to make a buck.

Once when you realise that owning your own home is pointless in current situation purchases of any things, no matter how meaningfull in ones life became pintless as well.

My talk to circle of some people that I know that they should not be happy that they refinaced and, thus "saved" their homes - for the exactly same reason that blog above states fell on dead eras

Sun, 03/16/2014 - 13:20 | 4555209 logicalman
logicalman's picture

Excellent summation.

I'm in a very similar situation and have some of those 'posessions of lasting quality' from previous generations that will likely get passed on again.

I don't own a debt-mobile, a TV, a cell phone or a credit card.

I don't buy cheap shit I don't need.

I do a job I'd do for free, if I could afford to.

I'd be fine, if we could just get rid of predatory government.

Sun, 03/16/2014 - 13:53 | 4555368 TruthInSunshine
TruthInSunshine's picture

The "possession" or desiring part is fine, IMO, as long as that which one possesses or desires to one day possess is sought or kept for the "right" reason.

Shouldn't that reason - a reason that so many are willing to trade significant chunks of the finite timeline that is their life, and the even more precipitous stash of commodity that is their health - be for a worthy cause, such as a true passion?

Sun, 03/16/2014 - 14:25 | 4555524 logicalman
logicalman's picture

Not many of the things I consider valuable would be treasured by anyone else.

I have a cheese grater, whisk and a hand mincer that belonged to my father's great grandmother.

I have a few of my father's woodworking tools and paintings and crochet work my mum did years ago.

I have a model boat that my dad and I made together, when I was about 8.

My latest passion is archery. I bought a 60lb recurve, but now I've started making my own long bows and arrows. (waiting for the geese around here to start dropping wing feathers again - collected a lot last year, but used most of 'em)

I'm not much of a spectator.

Sun, 03/16/2014 - 14:39 | 4555603 TruthInSunshine
TruthInSunshine's picture

So, not only do you have a true passion, but 1) it was fostered by and helped to foster more quality & bonding time with your father, 2) you are physically and mentally energized in a positive way in attempting to become more proficient in the application/Zen of it, and 3) it is a practical skill that could be used to source necessary resources if need be.

Win, win, win, win.

Sun, 03/16/2014 - 17:28 | 4556171 Louie the Dog
Louie the Dog's picture

"1 5/8"x 3 1/2" studs"

Lucky them. Studs are usually 1 1/2" × 3 1/2". 

 

 

Sun, 03/16/2014 - 12:22 | 4555000 Drifter
Drifter's picture

"Wrong, twill be 'deflation' that kills the beast, however much of your impressions I agree with!"

Ok, I think it's time to clear up this deflation vs inflation confusion.

1) Currency printing will accelerate far ahead of GDP growth.  This is the textbook definition of inflation. 

2) America has no GDP growth, it's shrinking actually, so all Fed currency printing (aka QE) is inflationary.

3) USD is steadily losing value with ongoing currency printing.

4) Bonds and other derivatives are steadily losing value as confidence in the American economy fades.   But this isn't deflation. Deflation is a monetary term having to do with the money supply. (When a stock drops in value, traders don't say it's deflating, they simply say it's losing value.  Same with bonds and other derivatives.)

5) Fed will do more QE to buy up more bonds hoping to keep bond values up against the headwind of failling confidence.  This will cause USD value to drop further. 

6) The logical end result of accelerated currency printing is hyperinflation then currency collpase (rejected by the people then becomes worthless).

Sat, 03/15/2014 - 21:59 | 4553668 CH1
CH1's picture

That's one of the problems: they reproduce.

The real problem is that people obey them.

Sat, 03/15/2014 - 23:03 | 4553820 maskone909
maskone909's picture

LAFFER CURVE>taxable income

They will never learn

Sat, 03/15/2014 - 23:23 | 4553851 Son of Loki
Son of Loki's picture

Wait until California equitablizes property taxes there so everyone pays their fair share.....3% or higher.

Forget Mellon Rooze and these other tax breaks on those McMansions.

I esp hope my Mother-in-Law gets whacked with 4% prop tax on her $3.6 mill box [that she paid only $360k for in 1998].

It's only Fair!!!!!!!!!!!!!!!!!!!!!!!

Sun, 03/16/2014 - 01:21 | 4554066 TBT or not TBT
TBT or not TBT's picture

Fuck California....just after I leave.

Sun, 03/16/2014 - 03:03 | 4554124 merizobeach
merizobeach's picture

Sorry, but you've had time enough to get out.

Sun, 03/16/2014 - 11:28 | 4554835 CheapBastard
CheapBastard's picture

Higher taxes there are inevitable....add to that Fuki and clean up as well as water shortage and the costs to live there will be unpossible to afford for 99%

Sat, 03/15/2014 - 21:43 | 4553629 Ranger4564
Ranger4564's picture

I have warned friends and colleagues about this for a long time... I'm pretty sure I warned about this eventuality here as well. It is so fucking obvious, it would be sheer stupidity if they didn't tax real property like this. They have a captive audience... only thing is, they will not stop until you have left the property... that's the ultimate goal, renters, not owners.

This is precisely why I've held off buying property for the past 5 years. I didn't want to be land locked and taxed off my own property. In the end, only the people can put an end to this nightmare... we'll see how high that threshold for pain is and whether there are any people left worth fighting with or fighting for.

Sat, 03/15/2014 - 23:15 | 4553842 qqqqtrader
qqqqtrader's picture

OOPS...

I guess I built that BBQ pit too close to the house the day before the Fed's were going to confiscate my house for excess back taxes.

Sun, 03/16/2014 - 03:05 | 4554126 Tall Tom
Tall Tom's picture

A bomb in between the House and the Gas Meter will ensure destruction.

 

"Those damned neighborhood kids..."

Sun, 03/16/2014 - 03:13 | 4554131 merizobeach
merizobeach's picture

In case you'd neglected to actually consider the real-world details, there are numerous other countries in which you could buy property.

Sun, 03/16/2014 - 08:09 | 4554387 Ranger4564
Ranger4564's picture

You seem to have a peculiar definition for Global.

Sun, 03/16/2014 - 03:12 | 4554134 UselessEater
UselessEater's picture

Ranger the IMF want to tax ALL 'net' wealth - property is an easy first but certainly not the last mechanism.

Sun, 03/16/2014 - 08:08 | 4554379 Ranger4564
Ranger4564's picture

I know UselessEater, but the point is that property is easy to locate and confiscate. Even money / metals / other assets are at risk obviously if they can locate them. Your stocks / bank accounts / ira, they're as good as gone by the time this happens. Between prohibiting exchange, taxation, confiscation, they will try to get it all.  As I've said before, they are restoring a brutal form of feudalism disguised thinly as socialism. Real social concern would not result in their actions... the people would buy up the corporations, not the corporations buying up people.

Sun, 03/16/2014 - 13:04 | 4554949 TruthInSunshine
TruthInSunshine's picture

It ties into this article and agenda by the IMF, and is no conspiracy - but is a provable, historical fact; do a simple search including "Bolivia," "IMF,"and "rain" to glean yet another nearly parallel example of how those who meet & aspire to control the world's sovereign people, and aspire to play god, think.

Would anyone here or anywhere believe that any unelected, unaccountable "body of global elites" would even dare try to privatize rain water & make it a criminal offense (and CAPITAL OFFENSE, sans due process, de facto) for a human being to gather it for their daily needs if it could not be established as an historical fact? (No, no, no - the IMF says you can't take water from a creek, river, brook, or even a pond, well, or tributary on YOUR OWN PROPERTY, Bolivians. The IMF has decided that said water is replenished, in part, by rainwater, and this must be commoditized through a contract with Bechtel, so that you & your government must depend, for an even more basic & necessary staple of life, that spontaneously pours from the skies, on a major IMF player/contractor that commoditizes things such as rain, and sets the table for future, pre-determined war).

There is no limit to the degree & extent to and by they wish to exert control over free people, crush their autonomy & spirit, and put them into perpetual slavery to serve as grist for the mill of an ongoing evil agenda.

I dare anyone to research "leasing the rain" and then attempt to rationally defend these monsters.

Sun, 03/23/2014 - 14:40 | 4582857 fiatmasochist
fiatmasochist's picture

Ghandi and salt............

Sun, 03/16/2014 - 12:47 | 4555093 moneybots
moneybots's picture

"I have warned friends and colleagues about this for a long time... I'm pretty sure I warned about this eventuality here as well. It is so fucking obvious, it would be sheer stupidity if they didn't tax real property like this. They have a captive audience... only thing is, they will not stop until you have left the property... that's the ultimate goal, renters, not owners."

 

California home owners didn't stand for it in 1978.  What makes you think they will stand for it now?

Thu, 03/20/2014 - 02:53 | 4571371 MeelionDollerBogus
MeelionDollerBogus's picture

Because in 1978 they didn't have Stormtroopers with a billion bullets and quasi-tanks. They do now. Now any uprising will be met with executions in the street.

When you don't pay you are removed.

When you resist your family is shot to death.

When it might look extra bad they'll plant evidence of a meth lab.

Sat, 03/15/2014 - 21:05 | 4553537 I_rikey_lice
I_rikey_lice's picture

Higher property taxes mean more households will be forced to rent out suites and rooms, which means more rental supply, which means lower rents, which means the higher property tax will come out or YOUR pocket!

Sat, 03/15/2014 - 23:30 | 4553863 Miffed Microbio...
Miffed Microbiologist's picture

The sad reality is you never own you home but rent it from the government. Exorbitant real estate prices are a cash cow to local governments. Prop 13 has severely reduced revenue in Cali. The only hope is 800k homes to keep up the bloated government. It was really frustrating to pay $ 400/ month in taxes when your neighbor pays $50/month. But she died and the kids sold the home and the new owners pay $700/month.

Miffed;-)

Sun, 03/16/2014 - 01:12 | 4554055 Mrs. Haggy
Mrs. Haggy's picture

Serfdom bitchez...

Sun, 03/16/2014 - 03:25 | 4554138 Tall Tom
Tall Tom's picture

If she is elderly and has already raised her children then why should she be burdened with paying for education of other children?

 

It is the young with children whom are mobile and TRANSIENT. Thus their Property Tax Income is not a guarantee. They use more State Services while raising their brood and supposedly have growth in income with advancement. Furthermore there is no guarantee that they can or will be milked for a long period. They are just as likely to relocate outside of the State.

 

An elderly woman generally is on a fixed income and surviving the rest of her days. She is more likely to stay where she is located. She is a guaranteed Revenue Stream to be milked. She already paid high taxes relativily speaking as the front loaded Tax Dollars were worth quite a bit more back in 1978.

 

I think that it was fair to the elderly to pass Prop 13 back in 1978 for that reason.

 

(I did not junk you. I cannot understand that they would be so disrespectful to not give you a response.)

Sun, 03/16/2014 - 07:39 | 4554359 duo
duo's picture

I've paid $75K to the local school district in the last 15 years.  Thing is, I don't have kids.

And my $75K doesn't seem to have educated anyone, if you look at what comes out of the nearby schools.

All Prop 13 did was take 90% of the real estate off the market and create a class of hereditary landowners and a class of landless debt serfs.  Almost medieval, if you ask me.

Sun, 03/16/2014 - 11:33 | 4554849 CheapBastard
CheapBastard's picture

duo, slap yourself on the back for padding the generous retirement package of school administrators. i doubt much went into actual teaching if your area is anyhting like mine.

Sun, 03/16/2014 - 14:31 | 4555549 logicalman
logicalman's picture

Close, but drop the almost and you've got it!

We just have better sanitation - keeps us productive longer.

Sun, 03/16/2014 - 08:56 | 4554450 FredFlintstone
FredFlintstone's picture

If you make some people exempt, then what motivation to they have to vote down say a school levey that may not be justified? I pay property taxes, but also payed to send my kids to private schools. I say get rid of public schools, reduce taxes.

Sun, 03/16/2014 - 09:18 | 4554483 Tall Tom
Tall Tom's picture

Now I agree with abolishing Public Schools. As for the product which is produced it is substandard as our children's education has plummeted..

 

But I also agree with limiting taxes. My response to Miffed was that the elderly have already paid the brunt of the taxes up fromt as they paid those taxes in less inflated Dollars. The Dollars which they spent then were much more valuable than today's Dollars. In the terms of value they have paid through the nose. Furthermore the product coming out of the schools in the 1980s is superior to that which is being graduated today.

 

In my response I am dealing with the realities rather than my wish list.

 

The elderly lady has already paid her fair share. She does not realize any gain whatsoever on the assessed value of her home unless she sells it. To tax her at a greater rate than what she has actually paid for the home is actually unfair as there is no realization of any monetary gain. There is no Capital Gain unless she sells.

Sun, 03/16/2014 - 09:37 | 4554528 FredFlintstone
FredFlintstone's picture

Her dollars might have been worth more, but the cost of education at all levels has outpaced the rate of inflation by far. Taxes are too complicated. Too many loopholes and exemptions. If an old lady can't pay the taxes, maybe they are too high. Letting her slide doesn't solve the problem. This strategy just keeps the old people from showing up at the school board meetings and raising holy hell over high taxes. They are the ones with time on their hands and show up. The rest of us are too busy working. Exempt them and the show keeps going unabated.

The government comes out smelling like a rose. The have compassionately let some older folks on "fixed" incomes avoid some taxes, but they have also avoided grief for themselves. Having an elderly lady on the nightly news being kicked out of her house of 40 years because her property tax eats up half her SS check makes the government and school districts look bad. They are just staying out of the news and you are "buying" it and seeing it as the right thing to do as a fellow human being.

Sun, 03/16/2014 - 16:37 | 4555999 Miffed Microbio...
Miffed Microbiologist's picture

I agree with your points Tom but it is not equal. She paid $3/ month for SS, raised 8 children on one income. She had very few expenses and died at 82. She bragged to me she spent 30k a year at the local Indian casino which, at the time was my yearly salary. All of her children went to public school. Mine went to private Lutheran school. Yes, this was our choice but her kids had gone through during an excellent period of California and mine faced gang fights at the same school. We paid 10k a year for their education as well as funded public schools. How is this fair? As a young couple with 2 children, we led a vastly different life from hers. I wanted to stay home with my babies but could not or we would have gone into debt. A fact that has filled me with regret. We will not be frittering away 30k a year at any casino at 82.

I do not have animosity for her. I probably would have led the life she did if I had been born at that time. My financial advisor said a couple with 2 kids must have 150k to survive in San Diego today. This is obscene.

Miffed;-)

Sun, 03/16/2014 - 12:33 | 4555039 moneybots
moneybots's picture

"Prop 13 has severely reduced revenue in Cali."

 

There wouldn't have been a Prop 13, if the California governments didn't over spend.  The city of Vallejo didn't go bankrupt because of Prop 13. 

Sat, 03/15/2014 - 21:57 | 4553663 Dr. Kenneth Noi...
Dr. Kenneth Noisewater's picture

Good luck with that, if wages don't follow suit..  Better start looking into Section 8!

Sun, 03/16/2014 - 00:57 | 4554028 RafterManFMJ
RafterManFMJ's picture

If you work, you are taxed.
Property is taxed.
You are property.

Mon, 03/17/2014 - 07:55 | 4557804 StandardDeviant
StandardDeviant's picture

Sorry, that's a classic example of the fallacy of the undistributed middle.

Sun, 03/16/2014 - 08:32 | 4554413 sessinpo
sessinpo's picture

 WayBehind      "Well, bad news for my tenants. The higher property tax will come out of their packets."

 

That also becomes bad news for you. If prices get to high, tenants will co habitate with other tenants. Think of children moving back in with parents (as we have seen) or elderly parents moving in with kids.  That means less supply of tenants for you.

Sat, 03/15/2014 - 20:28 | 4553399 duo
duo's picture

two thirds of my mortgage payment is taxes and insurance.

Sat, 03/15/2014 - 23:01 | 4553814 Keyser
Keyser's picture

It's a zero sum game designed to keep you a debt slave your entire life. Don't play their game. 

Sun, 03/16/2014 - 02:23 | 4554101 TheReplacement
TheReplacement's picture

You either own or rent.  Either way, you pay.  Perhaps you live in a tent under a bridge?

Sun, 03/16/2014 - 05:07 | 4554265 mrdenis
mrdenis's picture

I live in new Jersey my property taxes just broke over 21K ...nice beachfront town ,problem now is nobody wants to live on the water after Sandy ...they lowered my assesment 9% but taxes still went up ....it's getting crazy here 

Sun, 03/16/2014 - 14:20 | 4555501 TruthInSunshine
TruthInSunshine's picture

Just wait until people near the ocean see their upcoming property insurance (casualty loss) premiums (which will likely exclude damage due to water, wind-driven rain, and as alway, flooding, anyways).

Sat, 03/15/2014 - 19:59 | 4553283 Stoploss
Stoploss's picture

Oh, well that's a good reason to just burn the fucking thing to the ground.

TAX THAT MATHERFUCKERS............

Oh, and:

============================FUCK THE IMF==============================

Sat, 03/15/2014 - 20:08 | 4553311 macholatte
macholatte's picture

 

 

The managing director of the International Monetary Fund is paid a salary of $467,940 (£298,675), automatically increased every year according to inflation. On top of that she receives an allowance of $83,760 – payable without "justification" – and additional expenses for entertainment, making her total package worth more than the amount received by US President Barack Obama according to reports last night.

Unlike Mr Obama, however, she does not have to pay any tax on this substantial income because of her diplomatic status.

 

http://www.independent.co.uk/news/world/europe/anger-over-christine-laga...

 

Sat, 03/15/2014 - 21:25 | 4553589 post turtle saver
post turtle saver's picture

"for thee but not for me"

Sun, 03/16/2014 - 03:45 | 4554167 CuttingEdge
CuttingEdge's picture

And she gets a 40 gallon drum of fake tan lotion buckshee every month from L'Oreal to keep her pretty (if a dried wrinkled old prune could be considered pretty)...

Sun, 03/16/2014 - 14:29 | 4555544 TruthInSunshine
TruthInSunshine's picture

The IMF and similar NGOs (how deceptive a description) are like the pigs in Orwell's 'Animal Farm.'

Sat, 03/15/2014 - 21:38 | 4553478 New World Chaos
New World Chaos's picture

At some point people will start to get creative.  Here are a few ideas:

Figure out some way to go on the dole, and pay the bastards with their own money.  Sure the FSA sucks, but bludging is a rational response to a psychotic system.  Besides, it is increasingly apparent that the tax donkey sheeple are part of the problem.  When was the last time they helped to hasten the collapse?

Squat in a foreclosed house.  If out west, squat on BLM land.

Live in an RV/trailer park.  It's not as bad as you think.  You might actually like the neighbors more than in a gated community.  The big crimminals will see you as less of a target.

If you have a family, maybe rent but make your income low enough for Section 8, WIC, etc.  Don't own.  An insatiable bureaucracy leads to declining population which leads to even higher taxes, until real estate has zero value and it's back to nature.  See Detroit.  Yes, I know there are many other reasons why Detroit is fucked up.  But Detroit is the future.

Be ready to disappear at a moment's notice. 

If you're rich, live in a bug-out boat in a marina.  Also helps with being able to disappear at a moment's notice.

A property at imminent risk of being stolen by the IMF, bankers, cops, City Hall, eminent domain, etc., can be given a literal "poison pill".  Like delayed transformer oil in the lawn sprinklers.  Or something less traceable.  After an anonymous tip to the EPA and local papers, the new owner might find that the property suddenly has negative value!  Different tentacles could end up fighting each other for years.  Bonus points for pulling this under a HOA.

Good luck getting the missus on board with any of this.

Sat, 03/15/2014 - 21:41 | 4553621 FredFlintstone
FredFlintstone's picture

No shit about the missus. I would be there if it weren't for her. I could find a trailer park beauty queen as a replacement :)

Sat, 03/15/2014 - 22:11 | 4553654 New World Chaos
New World Chaos's picture

Sorry to hear you're not single going into the collapse.

Sometimes I am glad that I am so paranoid, antisocial, and cheap.  It turned out to be liberating in certain ways.

Sat, 03/15/2014 - 22:52 | 4553789 UselessEater
UselessEater's picture

On the other hand, its great to have like-minded family backing you up. It becomes (sometimes humoursly) shared confusion over what to do next!! The conversations also get more interesting and tighter-deeper bonds form that transcend the trivial and forgive the irritations. Which is exactly the opposite of what globalists want.

Sat, 03/15/2014 - 23:34 | 4553875 Miffed Microbio...
Miffed Microbiologist's picture

Sorry, I just love your avatar. It looks like my Corgi. She would wear that crown proudly much to the chagrin of my German Shepard who she beats the crap out of on a regular basis.

Miffed;-)

Sun, 03/16/2014 - 00:18 | 4553961 UselessEater
UselessEater's picture

I love dogs (more than peep's!!!) but my avatar reflects the Q of E :(

I just could not face going on ZH each day with a Q of E avatar, imagine seeing an image of that useless eater every day (choke!!) so I half jest with the corgi and half love seeing a happy puppy... albeit with a slightly cranky smirk on my behalf.

Dogs for govenor I say... tallyhoo twat twat and all that ;)

 

Sat, 03/15/2014 - 23:35 | 4553878 New World Chaos
New World Chaos's picture

Congrats.  You are blessed to have found someone like-minded. 

Sat, 03/15/2014 - 23:50 | 4553909 Miffed Microbio...
Miffed Microbiologist's picture

I deserved that. ;-) They do tend to have a short fuse. My vet won't handle her with out a muzzle. It's certainly not the size of the dog in the fight but the size of the fight in the dog.

Miffed;-)

Sun, 03/16/2014 - 00:40 | 4554001 UselessEater
UselessEater's picture

change vet!!!

must love dogs.

dogs must love vet.

owner must love vet bills (shit kinda lost there!!)

 

Sun, 03/16/2014 - 00:35 | 4553993 UselessEater
UselessEater's picture

NWC... its takes time and patience - several years in my immediate families case. I am very slow and prone to as much silly-ness and minor sensitivities as others which creates an unnecessary handicapp, as a slow learner in my family I then 'progressed' too fast..its a bit like tectonic plates we split/move under pressure but find our own happy medium eventually.

 

Sat, 03/15/2014 - 22:59 | 4553812 FredFlintstone
FredFlintstone's picture

My wife went back to school and is now a nurse after raising 4 children. Good to have someone who knows a little about medicine hanging around.

Sun, 03/16/2014 - 00:29 | 4553978 FreedomGuy
FreedomGuy's picture

I have actually considered going the RV route and pulling my favorite sportscar behind me. I was going to rent forever after selling my last house in the down market but I noticed rents were rising quickly. I figured with super low rates and a fixed payment that maybe I would come out ahead.

One year after buying my place I got the increased assessment for new higher property taxes which sent me through the roof. The property tax is (rightly) the single most hated tax in the USSA. They can increase your taxes without a tax increase. It gets around any other tax increase laws without any effort. You can raise them immediately in good times and lower them very slowly in bad times.

The RV thing appeals to my sense of freedom, simplicity and avoiding any taxing jurisdiction I might loathe. It is tax deductible but no property taxes. My state taxes the crap out of cars when you get tags each year, too. Dragging your car and home to friendlier lest leftist states is appealing.

The truth is that in the USSA we own neither ourselves nor any particular piece of property. There are no rights, only privelages allowed by the State.

Sun, 03/16/2014 - 01:05 | 4554040 New World Chaos
New World Chaos's picture

Excellent idea.  Some of my best times were when I was homeless, living in a pickup truck and rolling around the West.  There are some tips on the lifestyle near the end of this page:  http://www.zerohedge.com/news/2014-01-27/where-homeless-are-and-are-not

If you're going to do this, I'd say ditch everything that's not essential, starting with the sports car.  Stash it in a storage locker if you must.  Beat up your RV on the outside, or use a pickup, so you are more mobile and less of a target.  I deliberately pimped my ride to look like a bum's garbage-mobile.  Duct tape windows and everything.  Never got robbed.

Doing this will also make you feel comfortable with the other essential aspect of the lifestyle:  Getting out on hikes.  There is a spirit of freedom out there.  Read Desert Solitaire and see what came to Edward Abbey.  That can also be yours.

Sun, 03/16/2014 - 14:15 | 4555210 Drifter
Drifter's picture

"Some of my best times were when I was homeless, living in a pickup truck and rolling around the West. "

I was homeless 4 years, lived in car, travelled, saw beautiful parts of the country I never would have visited otherwise, worked temp jobs here and there, they never knew I was homeless, stayed clean, shaved, clean clothes, etc.  But I was set up for it, 5 gal water container, stove to heat water for nightly sponge bath and shaving, found public places I could park overnight without hassle, got to know cops, things like that.

But that was before 9/11 and all the turrist fear we have now.  I think it would be more difficult these days with more harrassment when parking overnight in public places (Wallmart parking lots, etc), possible arrest and vehicle impound (there goes your home and possessions).   I would recommend keeping minimum in the vehicle (put rest in storage) and keep a thousand dollars handy for bail and impound fees. When it comes out of impound expect everything of value in it to be gone, and good luck complaining about it. 

Fortunately it never happened to me, but I think it would be highly probable these days. 

And certainly keep license / tag / insurance current.   Let any of those lapse, your risk of impound goes way up.  

You will get questioned by police along the way.  I had good results simply being honest, I'm homeless due to divorce (marginally true but good "excuse" cops can relate to).

And stay clean, well-groomed, clean clothes.   Makes much better impression on cops, which is important, they can ruin your day and your entire "homeless adventure" very quickly.

And btw, homeless have no rights.  Never say "I have a right to be here" or "I have a right to do this or that".   You'll likely end up in jail with your vehicle impounded. 

"May I stay here tonight?" works way better than "I have a right to stay here overnight." 

Mon, 03/24/2014 - 22:17 | 4588549 New World Chaos
New World Chaos's picture

Excellent advice.  Even though this thread is long dead I will drop in some more excellent advice that I found elsewhere, in case an aspiring bum discovers this page.  Hat tip to alfbell:

I beat the system. My wife and I are full time mobile. Have a nice fifth-wheel with a full office in the back, pulled by a luxury Dodge Ram 3500 one ton dualie. We moved out of California and made Nevada our domicile state. Registered there with the DMV using a trailer park as our address. Have a PO Box that forwards our mail to us whenever we need/want it. Dissolved our Calif corps and created new Nevada corps (no more state income tax for us). No longer locked into one geographical position.

We can be anywhere we need to be for business opportunities. My wife visits her clients regularly (which they love) I go to whatever area is hot real estate wise (I'm a real estate investor). We visit with friends and family often. We go to lots of seminars and workshops all over the country. We take our breaks by staying at National Forests and State Parks all over the country. Or we just pull up to a friend or family member's house and hook up and stay for as long as we want. On traveling to long distance destinations we just pull over at a Flying J or a Walmart or whatever and shut down for a good night sleep, wake up, have a nice breakfast, and we're on our way. 

ALL of our expenses (and I mean ALL) are paid by our businesses and are all deductible (trailer, tow vehicle, fuel, maintenance, towing, food, trailer parks, tolls, restaurants, motels/hotels, etc. etc.)

No money thrown away on down payment on a home (riskiest money investment there is); or commissions and escrow costs; no property tax; no home maintenance and repair costs; no time spent on upkeep; no reason to spend money on all the "stuff" you think you need when you live in a house; etc. etc.

This is the good life. The simple life. The streamlined life. Not tied down by lots of possessions. Have everything we need. Lots of fun. Business profits double and triple due to being 100% mobile and flexible. And, nobody knows where you are unless you want them to know.

Sun, 03/16/2014 - 08:23 | 4554403 Ranger4564
Ranger4564's picture

Fuel costs / taxes / surcharge will keep you crippled. Not to mention tolls / travel restrictions.

 

What people really have to come to grips with is that there is no running away / hiding from this. You either fight it or you lose in any of a myriad ways they've pre-staged.

Sun, 03/16/2014 - 01:38 | 4554075 Hovel Downs
Hovel Downs's picture

BLM cops will shoot you.

Sun, 03/16/2014 - 06:15 | 4554294 New World Chaos
New World Chaos's picture

Are they militarized thugs like most other cops are now?  I don't actually know. 

Back in the day, they spent long stretches in the middle of nowhere, and they sometimes had to subsist on food stamps and roadkill.  The sociopaths who wanted daily power trips and opportunities for corruption would have taken other law enforcement jobs. 

Creeping fascism will still come up against the harsh reality of 907,000 acres per BLM cop.  You can be pretty sure that they will only come for you if you are causing obvious trouble or someone calls about you.  Maybe they have IR-imaging drones to detect illegal campfires and the spectral signature of shitloads of weed.  Don't know.  Should still be easy to keep a low enough profile.

http://www.blm.gov/wo/st/en/prog/more/law_enforcement.html

Sun, 03/16/2014 - 09:44 | 4554545 shovelhead
shovelhead's picture

I used to shoot on BLM land.

The most polite and reasonable cops in the world because they know you are armed.

None of them ever refused an offer to shoot my old timey single action Colts and Henry rifle. Cops apparently love old cowboy shooters. Guess not everyone likes plastic guns.

 

Sun, 03/16/2014 - 15:29 | 4555784 Ms No
Ms No's picture

I am getting a visual on a horde of Hedgers who've scrounged up capital to go salt life.  Some buy sail boats, others junker tug boats sporting Ron Paul stickers, some have creepy anarchist pirate flags...... they are living marina style to evade unjust property taxes.  Drunken, amateur sailors drinking scotch and arguing over economics... capsized boats everywhere... their still arguing.... then someone comments on the artificial reef that has been created by the wreckage... "oh shit, can they tax that?"..... the debate ensues

Sat, 03/15/2014 - 21:36 | 4553612 tgmur10
tgmur10's picture

I like your thinking!

Sun, 03/16/2014 - 01:58 | 4554088 RafterManFMJ
RafterManFMJ's picture

Never forget this news item:

June 13, 2012

NEW YORK (CNNMoney) -- Voters in North Dakota, where the economy is swelling with money from the oil boom, have voted against abolishing property taxes in the state.

More than 76% voted "no" in Tuesday's initiative to get rid of the property tax, according to returns from the North Dakota Secretary of State.

----------

Massive advertising by .gov unions and skool unions on this; we need property taxes TO SAVE THE CHILDREN!!

76% folks.

Want to know who the blood-sucking ticks, the socialist slavers are? Just swivel your head around next time you're out in public...

Sun, 03/16/2014 - 03:25 | 4554147 UselessEater
UselessEater's picture

"only in America"

an expression I no longer hear anymore perhaps "think global, act local" caught on too well - the perfect socialist catch cry

Sun, 03/16/2014 - 03:35 | 4554157 merizobeach
merizobeach's picture

"Just swivel your head around next time you're out in public..."

And obviously, for most people, that means glimpsing a reflective surface as well while glancing around.

Off topic and on a lighter (and unprejudiced) note, your point reminded me of an old joke about San Francisco...

You see, in SF, a third of the folks are gay, and unrelatedly, there is also an excellent, ubiquitous public transportation system.  So when you're sitting on the bench waiting for the next bus or train, if the person to your right isn't gay, and the person to your left also isn't, it means you are!

Sun, 03/16/2014 - 06:28 | 4554309 Bioscale
Bioscale's picture

I have asked my friend, how high was the tax last year on his $150.000 house - this is Central Europe, just to compare the difference to the US.

The tax was $150. This is annual tax rate for a property in a city with about 100.000 people. It may double for the big cities.

I can't believe the people in the US have to pay $4000 tax for a similar house. This is fucking crazy.

Sun, 03/16/2014 - 08:51 | 4554440 FredFlintstone
FredFlintstone's picture

$4,000 is extreme. Most places it might range from $1,500 to $2,500. But still a far cry from $150.

Sun, 03/16/2014 - 17:34 | 4556206 SimplePrinciple
SimplePrinciple's picture

States without income taxes often have higher property taxes.  Where I live in income-tax-free Texas, a $250,000 house has about a $4,000 tax bill.  In some other Texas cities, a $150,000 house would probably get you there. 

School taxes are the worst.  The median voter either rents or has lots of kids in school, so it seems like every ballot proposition to raise money for the schools sails right on through.  Hell, most of the voting sites are even IN the schools.

Sun, 03/16/2014 - 09:05 | 4554467 Singelguy
Singelguy's picture

You have to look at overall taxation, not just property taxes. Maybe his property tax is only $150 but most European countries have a national sales tax of 20% (VAT) and much higher marginal tax rates on income. Some countries even have a wealth tax of around 2% on net worth. Also, many EU countries make no distinction on capital gains or dividends. It is all treated as ordinary income and taxed at the marginal rate. When you add it all up, I suspect your friend's total tax burden as a percentage of his income is not much different than in the USA. Different countries just extract it in different ways.

Sun, 03/16/2014 - 08:58 | 4554456 FreedomGuy
FreedomGuy's picture

Yes, Rafter, I remember reading this and I wanted to tear my eyes out. I actually yelled out what complete idiots they were. Herein lies the real problem. We have been conditioned to think being ruled is the normal order. Subliminally we believe government does in fact own us.

This same thinking would have you go into your grocery store and pay full price for something at a discount, or go to Walmart and pay double just in case the store needed it. No one thinks of doing that in a commercial enterprise, yet the good sheep of N. Dakota really believe the government ticks who always need more blood.

There is not much hope for America when this stupidity prevails.

Many ZH readers know that once you begin to think like a free person you can never go back...and you spend half your time being depressed by the latest headlines.

Sun, 03/16/2014 - 13:05 | 4555164 TruthHunter
TruthHunter's picture

"Property taxes are underutilized in some jurisditions."

In some places you actually own property, not rent it from the state?

Sun, 03/16/2014 - 06:09 | 4554296 Cygnus Nigri
Cygnus Nigri's picture

property tax = serfdom

Sun, 03/16/2014 - 13:22 | 4555221 Jannn
Jannn's picture

New York Federal Reserve Lying About Gold Storage

 

http://www.ingoldwetrust.ch/new-york-federal-reserve-lying-about-gold-st...

Sun, 03/16/2014 - 17:52 | 4556272 JerseyJoe
JerseyJoe's picture

Most people live in suburban MILKING STALES and don't see it coming.

I live in NJ THE MOST INSOLVENT STATE IN THE UNION!!! - $1900 per year to over $13000...  I sold no more BAAAAAH.   

Throw demographics on top of this and we have no idea what babyboomers will be seeing when they all try to exit at once.   Yellen will print to prevent a real estate crash.  Not to worry - the printing machine will slow this...but it comes.  

Sun, 03/16/2014 - 18:02 | 4556306 Cloud9.5
Cloud9.5's picture

Penny auctions will be the new form of Shay's Rebellon.

Sat, 03/15/2014 - 19:42 | 4553228 VD
VD's picture

did anyone not think this would happen¿¿¿

Sat, 03/15/2014 - 19:42 | 4553229 LeisureSmith
LeisureSmith's picture

With emphasis on the words exploit and redistributive. Aka steal and bribe.

Sat, 03/15/2014 - 20:41 | 4553457 UselessEater
UselessEater's picture

IMF is fostering a virtuous (& incestuous) loop of austerity and looting. Yes, aka "Steal and Bribe" indeed, through the criminal devestation of ordinary lives for vested interests. The IMF has only just got started and has their greedy eye on every nation.

http://www.thenewamerican.com/economy/economics/item/16787-imf-pushes-pl...

"Despite receiving generous taxpayer-funded salaries and perks, for example, IMF bureaucrats do not pay the exorbitant income taxes they are demanding for everyone else.....Looking past the bureaucratic language, the IMF caveats, its effort to hide behind the passive voice, and the thinly disguised attempt to make the heist sound palatable to the public because not everyone would be fleeced just yet, the message becomes clear. What the IMF is really saying is that the proposed massive confiscation of wealth must be adopted quickly and quietly — before people have a chance escape it."

http://www.globalresearch.ca/corrupt-secret-global-trade-and-investor-ag...

"Since the economic crisis hit Europe, international investors have begun suing EU countries struggling under austerity and recession for a loss of expected profits, using international trade and investment agreements. Speculative investors are claiming more than 1.7 billion Euros in compensation from Greece, Spain and Cyprus in private international tribunals for the impact of measures implemented to deal with economic crises."

 

Sat, 03/15/2014 - 21:07 | 4553541 Bonapartist
Bonapartist's picture

aka steal and Tribe.

Sat, 03/15/2014 - 19:42 | 4553230 Stuck on Zero
Stuck on Zero's picture

Don't you love the idea of heavy property taxation.  Everyone soon has to live in government housing and farmers become poor sharecroppers.  It's just like the middle ages. 

 

Sat, 03/15/2014 - 20:30 | 4553403 BlindMonkey
BlindMonkey's picture

Nothing is going to change until the people take out their righteous retribution on the lawyers. They are the ones that come up with the rules that place them, employed, on both sides of any issue.

Until the bar associations start going to a lot more funerals these encroachment swill never stop.

Sat, 03/15/2014 - 20:51 | 4553493 negative rates
negative rates's picture

Okay. What do you do with a lawyer buried up to his neck in sand? Get more sand!

Sat, 03/15/2014 - 23:51 | 4553916 Stuck on Zero
Stuck on Zero's picture

A very sad tale.  A bus filled with attorneys tumbled off a cliff and all aboard were called.  The sad part is that there was an empty seat.

 

Sun, 03/16/2014 - 09:02 | 4554462 FreedomGuy
FreedomGuy's picture

Despite all the welcome humor their is a serious point? What is the number one profession in all legislatures across the USSA? Law, by far. I would guess it outnumbers all the other professions together and multiplied by two. Last time I saw a survey of the U.S. Congress it was 2/3 lawyers.

There is your problem. They love making the sausage, believe everything can be solved with a new "rule" and never reign in their brethren.

Sat, 03/15/2014 - 22:51 | 4553786 Seek_Truth
Seek_Truth's picture

The lawyers are simply codifying the wishes of TPTB, so they can be enforced at the point of a gun by Johnny Law.

"Righteous Retribution" would neccessarilly need to start at the head of the beast- TPTB.

Who are they, you ask?

" 'To learn who rules over you, simply find out who you are not allowed to criticize.'" - Voltaire

Sat, 03/15/2014 - 23:48 | 4553906 New World Chaos
New World Chaos's picture

His name was Francis Sawyer.

Sat, 03/15/2014 - 23:51 | 4553915 FredFlintstone
FredFlintstone's picture

Gasp... you said his name.

Sun, 03/16/2014 - 01:50 | 4554082 RafterManFMJ
RafterManFMJ's picture

Say his name 3 times and he might appear...

Sun, 03/16/2014 - 08:49 | 4554437 FredFlintstone
FredFlintstone's picture

And click your heels (like Dorothy not like a Nazi).

Sat, 03/15/2014 - 23:33 | 4553872 UselessEater
UselessEater's picture

wrong scapegoat... aim higher, much much higher ;)

Sat, 03/15/2014 - 23:52 | 4553911 scrappy
scrappy's picture

Blind Monkey,

There is a better way. Open your eyes, it's a miracle, you can see! Then take the red pill, along with your favorite beverage, and enjoy the videos.

http://www.nationallibertyalliance.org/common-law

Do NOT follow this link or you will be banned from the site!