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Why are sale and property taxes regressive taxes?

Who will really benefit if Florida lowers property taxes and raises sale taxes?

  • Those with any kind of thinking brain will realize that a BIG reduction in property taxes will be a landfall for those with million dollar homes while those with $50,000 homes and low incomes will get hardly anything but an increase in their sale taxes.This will be even more of a burden on the low income people while the wealthy will just laugh it off. .

  • Answer:

    Wealthy homeowners will be the beneficiaries of course. Mostly at the expense of the poor and middle class of course. The wealthy will get a tax cut and the poor will have to shoulder the difference since they spend virtually all of their income on essentials. Some middle-class homeowners may break even but the poor will take it in the shorts.

logicmar... at Yahoo! Answers Visit the source

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Indeed... but ranting will do nothing about it.

IndustrialGirl86

also you will see and affect on the rent for people that can't afford home. rents will be able to go down because the the lower tax and the people that can't afford 50,000 homes will feel that. I'm not personally wealthy but i have never known a wealthy person to laugh off anything concerning money.

LD

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