Huge land holdings for no property tax: the 'conservationist' oligarch

[c1ue]

This link will only work for 48 hours...

https://www.nsfwcorp.com/dispatch/ol...a414475914d17/

Note that what's described above isn't new except in name; Leland Stanford and others used similar university and railroad charters to shield land holdings from tax.

[Southernguy]

Re: Huge land holdings for no property tax: the 'conservationist' oligarch

So much for USA's "competitive economy".

[raja]

Re: Huge land holdings for no property tax: the 'conservationist' oligarch

This link will only work for 48 hours...

https://www.nsfwcorp.com/dispatch/ol...a414475914d17/

Note that what's described above isn't new except in name; Leland Stanford and others used similar university and railroad charters to shield land holdings from tax.

Thanks, c1ue.

What I read was not surprising.
Many -- perhaps most -- of the wealthy and powerful lack human compassion, which means they happily accumulate vast fortunes while others suffer, starve or die. Their greed is boundless.

[think365]

Re: Huge land holdings for no property tax: the 'conservationist' oligarch

This link will only work for 48 hours...

https://www.nsfwcorp.com/dispatch/ol...a414475914d17/

Note that what's described above isn't new except in name; Leland Stanford and others used similar university and railroad charters to shield land holdings from tax.

Thanks. Great article, well written. I am going to subscribe. Can't wait to read the article, "A Journey Through Oligarch Valley".

[gwynedd1]

Re: Huge land holdings for no property tax: the 'conservationist' oligarch

What’s even more breathtaking is how these real estate oligarchs have papered over their vast land holdings with images of environmental protection and selfless conservation, as if their ownership of huge chunks of America is for our own good. They’ve got everyone believing it so firmly, that Americans happily subsidize their ranches, estates and private hunting preserves.

When life imitates art:

Thulsa Doom: Yes! You know what it is, don't you boy? Shall I tell you? It's the least I can do. Steel isn't strong, boy, flesh is stronger! Look around you. There, on the rocks; a beautiful girl. Come to me, my child...

[coaxes the girl to jump to her death]

[aaron]

Re: Huge land holdings for no property tax: the 'conservationist' oligarch

It is incredibly infuriating. I actually do not appreciate the article. There should have been a warning, like this will make you want to go crazy!!!!!!! Don't read if you forgot the world sucks!

He has probably got it set up so the land is all in a trust for his offspring to "manage" and "protect" for the next thousand years. My guess is he can pass it on to his heirs tax free.

[think365]

Re: Huge land holdings for no property tax: the 'conservationist' oligarch

It is incredibly infuriating. I actually do not appreciate the article. There should have been a warning, like this will make you want to go crazy!!!!!!! Don't read if you forgot the world sucks!

He has probably got it set up so the land is all in a trust for his offspring to "manage" and "protect" for the next thousand years. My guess is he can pass it on to his heirs tax free.

You nailed it. That is exactly how it works. The elite set up "charitable trusts" and (with great publicity, pomp and circumstance) "donate" 90% of all their assets to it, pretexting philanthropic generosity (e.g., Warren Buffet, Bill Gates, Ted Turner, et al). The so-called "Charitable Trust" then becomes the tax-free wealth transfer mechanism, providing lifetime employment for the donor's incompetent, lazy children and grandchildren paying them salaries of $500k/yr (or more) into perpetuity for doing absolutely nothing of value, while the struggling middle class taxpayer subsidizes the corpus of the trust for the sole benefit of the donor's family, without receiving any public benefit whatsoever. Just another example of your tax dollars at work courtesy of crony-capitalism.

[photon555]

Re: Huge land holdings for no property tax: the 'conservationist' oligarch

Thanks, C1ue. I enjoyed the article despite the ideological bias, which I found rather amusing, actually. I did take comfort in the fact that soon enough all of these billionaire welfare queens would occupy (not even own) but two square meters. As for the "permanent" easement; what one lawyer, or law has given, another can, and usually will take away. The book of Job reminds us that everyone leaves this world with exactly the same possessions they brought into it. Everything we have, even our abilities, are on loan and must be returned someday. Remember that those who have been given much will have more to answer for regarding their stewardship.

[Woodsman]

Re: Huge land holdings for no property tax: the 'conservationist' oligarch

Big points for the "Conan" reference!

[aaron]

Re: Huge land holdings for no property tax: the 'conservationist' oligarch

Just sounds like the typical b.s. fed to the masses so they do not demand real justice in the present. Yeah, God'll get 'im later! I wonder which banker came up with that one?

[lektrode]

Re: Huge land holdings for no property tax: the 'conservationist' oligarch

Just sounds like the typical b.s. fed to the masses so they do not demand real justice in the present. Yeah, God'll get 'im later! I wonder which banker came up with that one?

dunno - but this one story proves correct mr c1ue's observation a couple years back - in ref'g one of my comments regarding NH's somewhat higher than typical property tax burden (while also sporting NO sales tax and NO income taxes, along with a state leg that makes 100bux/year = volunteers) - that low property taxes are a give-away/subsidy to the rich.

somewhat counterintuitive that, esp in some states that have all of the above, including sales taxes on food, meds/med services and then whack ya on stuff like yer car registration, vs hiking the gas/fuel taxes when they suddenly discover that the roads need fixing...

[LazyBoy]

Re: Huge land holdings for no property tax: the 'conservationist' oligarch

dunno - but this one story proves correct mr c1ue's observation a couple years back - in ref'g one of my comments regarding NH's somewhat higher than typical property tax burden (while also sporting NO sales tax and NO income taxes, along with a state leg that makes 100bux/year = volunteers) - that low property taxes are a give-away/subsidy to the rich.

It's all rigged. If the "low property taxes are a give-away/subsidy to the rich" meme got any traction, it would result in a higher tax rate for everybody, and the "rich" would keep using the loopholes. Close the loopholes first then we can see if the rates are high enough.

Ditto for income taxes, including the mortgage interest deduction loophole.


I like to encourage savings, so sometimes I think replacing income tax with a VAT would be a good idea. I buy a Subaru, rich guy buys a Maserati, we both pay tax. But articles like this remind me how incredibly unequally distributed things are and make me think about wealth taxes. For the guy who owns land equivalent to more than half of Connecticut, even that new Maserati is such small drop in the bucket.

[lektrode]

Re: Huge land holdings for no property tax: the 'conservationist' oligarch

It's all rigged. If the "low property taxes are a give-away/subsidy to the rich" meme got any traction, it would result in a higher tax rate for everybody, and the "rich" would keep using the loopholes. Close the loopholes first then we can see if the rates are high enough.

Ditto for income taxes, including the mortgage interest deduction loophole.


I like to encourage savings, so sometimes I think replacing income tax with a VAT would be a good idea. I buy a Subaru, rich guy buys a Maserati, we both pay tax. But articles like this remind me how incredibly unequally distributed things are and make me think about wealth taxes. For the guy who owns land equivalent to more than half of Connecticut, even that new Maserati is such small drop in the bucket.

both interesting and likely necessary ways to consider - esp on the mtg int ded - outrageous that owners of houses in the millions get interest deductions = is pure insanity

but a VAT on lifes necessities would have to be offset with some kind of credits for those who spend everything they make on merely staying alive - as usual, the devil and the detail - and its the 'sausage factory' in the beltway thats likely to muck that one up - never mind the likelyhood that one wont eliminate the other - we'd end up with BOTH.