Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Gold Seeker Closing Report: Gold and Silver Give Back Fridayís Gains
By: Chris Mullen, Gold Seeker Report

Operation Twist By Another Name and Method?
By: Gary Tanashian

SWOT Analysis: Gold Bounced Back After Attempts to Knock Down Price
By: Frank Holmes

Hyperinflation in Zimbabwe Ė Itís back, but maybe not for long
By: JP Koning

Gold Versus Bitcoin: The Pro-Gold Argument Takes Shape
By: John Rubino

Inflation and Counterfeit Credit
By: Keith Weiner

Gold's Interesting Day
By: Rick Ackerman

Two Scenarios, One Strategy
By: Gary Savage

Zinc One Files a Technical Report on Scotia Property
By: Zinc One Resources Inc.

Money and Markets Infographic Shows Silver Most Undervalued Asset
By: GoldCore

 
Search

GoldSeek Web

 
The Police State and Property TaxesÖ What You Can Do About It


 -- Published: Wednesday, 17 June 2015 | Print  | Disqus 

By Nick Giambruno

A police officer pulled over Floyd Dent for a routine traffic stop.

A violent altercation followed.

The officer dragged Dent out of his car, appeared to put him in a chokehold, and punched him in the head. He then used his stun gun.

A disturbing but hardly unique encounter. These kinds of things happen all the time. It seems like thereís a new police abuse video uploaded to YouTube every day. In many cases, these incidents turn deadly. Dent is lucky the officer didnít kill him on the spot.

But whatís really remarkable about this incident is that there was any kind of accountability at all. In many cases, the government and the fawning mainstream media sweep cases of police abuse under the rug. The State is extremely reluctant to hold its enforcers to account. But sometimes itís forced to when overwhelming video evidence comes to light that sparks public outrage.

Once a video of the Dent incident became public, the officer lost his job. Heís now on trial, facing charges of mistreatment of a prisoner.

Dent also decided to sue the city of Inkster, Michigan, where the incident occurred. Surprisingly, he won. The city of Inkster settled for $1.4 million.

The problem is, Inkster doesnít just have an extra $1.4 million laying around. So what did the local politicians do? They decided to squeeze a little extra juice out of the taxpayers, of course. They did this by raising property taxes.

A local media source estimates the new property tax will amount to about $179 on a home valued at about $55,400.

Now that doesnít sound like a lot. But consider that the median income in Inkster is just $26,500 and that 40% of its people live below the poverty line. They simply donít have an extra $179 to pay for a police abuse lawsuit which had nothing to do with them. The case has outraged people there, and rightly so.

There are a lot of things that are outrageous about this story. But thereís one that I find most instructive. And thatís the very concept of property tax. Itís an insidious perversion of property rights. How can you think you really own something that the government forces you to pay an insatiable and ever-increasing amount of tax on?

If you ask me, itís impossible to truly own something that has a property tax attached to it. You would possess such an item, but you wouldnít own it. Itís an important distinction. Stop paying your property taxes to find out who really owns your home. In actuality, youíre merely renting the home you thought you owned from the government.

Whenever politicians want to steal more money, they can simply increase property taxes and hope nobody notices. Itís like changing the dial on a thermostat. The Floyd Dent case showed this.

Turning to property taxes to quench a thirst for money is not unique to the politicians in Inkster, Michigan. Itís a universal feature built into the DNA of almost any politician in the world. Consider the bankrupt government of Greece. Hereís an excerpt from an article in The Guardian:

The joke now doing the rounds is: if you want to punish your child, you threaten to pass on property to themÖ Greeks traditionally have always regarded property as a secure investment. But now it has become a huge millstone, given that the tax burden has increased sevenfold in the past two years alone.

The sad reality is that there are few countries in the world that do not have a property tax. Fewer than 20 to be exact. We cover them in detail in Going Global. The only way to skip the annual property tax harvest is to own real estate in these countries.

Itís not just a matter of minimizing or eliminating property taxes, though. Yes, thatís extremely important. But foreign real estate offers a number of other tremendous benefits, too.

Itís a hard asset outside the immediate reach of your government. They cannot confiscate it without a literal act of war.

It opens the door for you to obtain an offshore bank account, residency, and maybe even citizenship, in another country.

It diversifies your portfolio and can bring income streams in a foreign currency if you rent it out.

These are but a few of the huge benefits foreign real estate can give you.

For a more detailed discussion, you may wish to check out Going Global 2015.

 
The article was originally published at internationalman.com.

| Digg This Article
 -- Published: Wednesday, 17 June 2015 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2017



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.