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American Politics
US billionaires paid lower tax rate than working class in 2018
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<blockquote data-quote="ThatRobGuy" data-source="post: 74381829" data-attributes="member: 123415"><p>In my example, I wasn't referring to independent landlords, I was referring to the property management LLCs that buy the properties from those independent landlords.</p><p></p><p>There are fewer and fewer independent landlords as many apartment complexes are being bought out by these property management companies. Thus the reason the rent CPI has gone through the roof compared to the CPI in other areas (like, food, clothing, transportation, and electronics). So much so, that a person has be in a financial position where their rent only accounts for < 1/3 of their overall expenditures in order to be able to be able to leverage the CPI reductions in other areas to offset it.</p><p></p><p></p><p></p><p>I didn't say all rich people were doing that.</p><p></p><p>"The Rich" aren't a monolith.</p><p></p><p></p><p></p><p>I've already explained a few different ways that's misleading.</p><p></p><p>Getting a few extra dimes doesn't mean much when the number #1 expenditure, that accounts for nearly half of their overall monthly budget increases by well over 20% over a period of 5 years.</p><p></p><p>The poor, as a whole, aren't doing better now. The rent & education gouging (thus limiting upward mobility) was a trend that started back in the early 80's, and hasn't really deviated from trend.</p></blockquote><p></p>
[QUOTE="ThatRobGuy, post: 74381829, member: 123415"] In my example, I wasn't referring to independent landlords, I was referring to the property management LLCs that buy the properties from those independent landlords. There are fewer and fewer independent landlords as many apartment complexes are being bought out by these property management companies. Thus the reason the rent CPI has gone through the roof compared to the CPI in other areas (like, food, clothing, transportation, and electronics). So much so, that a person has be in a financial position where their rent only accounts for < 1/3 of their overall expenditures in order to be able to be able to leverage the CPI reductions in other areas to offset it. I didn't say all rich people were doing that. "The Rich" aren't a monolith. I've already explained a few different ways that's misleading. Getting a few extra dimes doesn't mean much when the number #1 expenditure, that accounts for nearly half of their overall monthly budget increases by well over 20% over a period of 5 years. The poor, as a whole, aren't doing better now. The rent & education gouging (thus limiting upward mobility) was a trend that started back in the early 80's, and hasn't really deviated from trend. [/QUOTE]
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