Reply to “Mansion tax” to be introduced by Grosso in DC for homes worth over $1million

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous] A $1 million dollar home is expensive for DC.  Even if you stretched to buy it and are house poor.  You're still way rich compared to the 25% of DC residents are living below the poverty line.[/quote]

Arent you already susbsidizing many of them with the taxes they dont pay?[/quote]

People living under the poverty line still pay taxes. (An even greater proportion of their earnings than those who live in million-dollar houses.)[/quote]

Seriously, you actually think people under the poverty line pay a higher percentage of their income in taxes than the wealthy?  How about some facts:
-- If you are under federal poverty level you pay about $0 in federal income taxes
-- You do pay FICA taxes of 7.5% of income but
-- That is offset (partially) by the earned income tax credit
-- In DC the poor pay little in state tax if anything.
-- The poor are more effected by sales tax, which in DC is about 6% of spending on taxable items.

So how does a total tax obligation that is clearly under 10% of income (and frankly for many close to zero after the EITC), become a higher percentage.????[/quote]

I'm curious about this as well. [b]Also, factor in all the subsidies and benefits your get at that income level [/b][/quote]

Only if you factor in the subsidies and benefits you get at all income levels.  Mortgage interest deductions, pre-tax transit and retirement contributions, etc.  [/quote]

So everyone gets subsidies, but who actually pays taxes? To provide all this stuff?[/quote]

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