Posted Aug 8, 2013 by Martin Armstrong
The American Dream and the pushing of home ownership is one of the biggest scams the politicians can pull off. The above home sold for $14,000 in 1956. Today, the property taxes are $10,000 annually.If you sell it today for even $200,000, the IRS looks at the difference as profit – not inflation. Then they do not consider the property taxes. Over the course of 50 years, the amount of taxes paid consumes whatever gross profit the IRS claims you made. So just where does owning your own home pay? The greed of politicians knows no bounds and people wonder why the standard of living is declining not rising.