the "free market" and the "subsized market" beliefs seem to lead to the same thing since insurance is about spreading (socializing) risk. There is unity, but not uniformity, however, in the implementation.

the housing bubble, for example, has driven up assessments and, therefore, people are paying more in taxes, w/o a vote, simply because they float higher along with the assessments and, therefore, the rich and the poor are both targets.

the stock market has been boiling and some of that froth will eventually, I think, come back into the housing market and stablize it and keep the inflationary economy rolling, hopefully helping both the poor and the rich.

your last comments were interesting because "what do we do with those folks who don't rise with the tide?"

in general, however, I've come to appreciate the idea of avoiding classism-- specifically, seperating policy from philanthropy, because good policy is good policy!

I suppose that policy makers have seen that forgivness (less rigid law) is much more powerful than holding grudges (jailtime) since a lot of people were happy about "getting rich" off their neighbor's immorality.

while I could never butcher a chicken, my father could and I enjoyed eating it!

Misplaced comment ... Sorry.

~OGD~

How regressive of them... Eh?

I don't really know, what do you think? if someone, on the lower income scale gets a load of cash from equity, before they're swamped with usary and taxes, then they certainly get a windfall.

wether the windfall is worth anything, as you note, that's another nice question.

the housing bubble, for example, has driven up assessments and, therefore, people are paying more in taxes . . . . mcs

Where did this odd idea come from?

Except to governments permitted to run deficits (US of A) taxes billed equal anticipated budget expenses. "People" pay higher taxes if budgets go up; lower if they go down. Assessments have nothing to do with the matter.

here, in minnesota, not only have property taxes gone up automatically, but the state legislature also decided to build a baseball studium for the twins without using a referendum.

these policies are out of wack with "no taxation without representation!" and, as you know, if these tax increases weren't "automatic," then the politicians would be forced to go on record, defend their spending habits and perhaps ask for more.

in general, I don't think that budgets justify themselves...

it will be interesting to see how the spring housing market goes because I, for one, didn't buy last year because the additional taxes would have been more than my rent!

as in many places, "property tax relief" is on the lips of the politicians but I doubt they'll want to give anything back because bigger budgets justify bigger budgets!

since you are unware of this issue, I included one such reference below:

The property tax gap: homeowners now struggle to understand the discrepancy between assessed value and market value

and one of the quotes in this piece is:

"There is an automatic [value] appreciation in the [property tax] system even though we haven't seen it" in the actual marketplace. Michael Sharp, RE/Max Realty

so, perhaps, governments will have to downsize if it's determined that assessed values aren't close to market values.

for progressives, and in relation to the original post, the issue is that companies have been pushing their tax burden (read local infrastructure development) onto local residents just like the airlines want the public to pay their pensions.

if automatic assessments were placed on businesses, they'd leave town just like Wal-Mart has done more than once!

America-is it immune to increased social unrest when the real estate bubble /housing/ATM machine breaks and the huge war debt begin to bite? FRG Bies on the collapse of subprime lending (the mortgage 'business' based on lending money to folks unable to pay it back)

What we're seeing in this narrow segment is the beginning of the wave,'' Bies said. ``This is not the end, this is the beginning.''

Amitai Etzioni writes
“If the banks and builders succeed, taxpayers will cover the losses caused by wild speculation in the real estate market.”

Maybe it’s time to bring on the WINDFALL PROFITS TAX?

The economy was in good shape, until the fear and exploitation by the oil companies, and the refineries, gouging the middle class, at every opportunity.

Look at current gas prices, and then tell me how the middle class and below, can keep it’s head above water. Where’s the Government we've paid for, to rein in this monopolistic enterprise?

When chemicals and materials necessary for builders goes up, the price increase is passed on. When the truckers prices go up, so do groceries. Shrink wrap, Climate control, utility costs increase. name anything not affected by Petroleum.

There will always be those who are on the border of financial trouble. Those who hope that the eonomy will improve and wages will increase. In that event, having bought a home, with the anticipation of increased earnings, will make the home affordable.

But No, at the first sign of economic growth, companies like Exxon Mobil, are the first in line to utilize the principle of charge the consumer, at what ever the market will bear. Free enterprise?

So maybe if these companies who reported record profits, were taxed a Windfall Profits Tax and apply those revenues to the crises.

It also doesn’t help, that the War is taking to much treasure, spending towards goals that increase debt, that in turn, raises interest rates, that affect the working class.

So no wonder foreclosures are up, the people have no money left.