freddms on Nostr: How do we get out of the tax trap? It seems impossible. My grandparents built a house ...
How do we get out of the tax trap?
It seems impossible. My grandparents built a house in the 1960s. When they died the property taxes were 1/2 the cost of the original home cost.
While most don't see US$ as longterm wealth, it's true that anything you buy that has property taxes is not truly yours and eventually if you own it long enough the taxes will exceed the original cost (due to Fed printing money - inflation).
It seems impossible. My grandparents built a house in the 1960s. When they died the property taxes were 1/2 the cost of the original home cost.
While most don't see US$ as longterm wealth, it's true that anything you buy that has property taxes is not truly yours and eventually if you own it long enough the taxes will exceed the original cost (due to Fed printing money - inflation).