October 6, 2015 No.4
https://www.facebook.com/mehtarahulc/posts/10153071563456922
Why is homelessnes in Los Angeles , USA rising ? Because USA has law-draft that bank-property will NOT be taxed !!!
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Most counties in USA tax home / business properties at the rate of 1% of market per year. But bank--owners have bribed / forced country heads to print a law-draft that unoccupied property owned by bank-owners via banks will NOT be taxed. So if a non-bank-owning property-owner has property, which is he using or keeping empty for re-sell, he has to pay tax. But bank-owners dont have to pay property taxes. Likewise, bank-owners also evade inheritance tax on those properties. How? The properties are owned by banks , and bank's shares are owned by Bank Holding Companies, which are privately held and NOT publicly traded !! And so valuation of shares of bank holding companies can be kept low by ensuing that bank's shares values remain low. which can be done by keeping loss making companies' bonds in banks !!! IOW, there are several ways to ensure that Bank Holding Companies' shares are valued at much lower than the real estate it represents.
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So banks dont re-sell foreclosed property, to keep property values high. So defaulting homeowner becomes homeless. And many enterpreenurs cant buy land to run offices / businesses / factories , and so unemployment doesnt reduce, which further increases homelessness !!! To that, add 10s of cumbersome law-drafts such as labor laws and pollution control laws and labor safety laws which have made running business more and more difficult,.
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The problem is least in USA, and much higher in Europe and India. But how USA is also facing heat due to such law-drafts.
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Solution?
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We should focus on solution to problems of India. Not that I am selfish, but me giving advice to USA on how they can fix their problems is like man on a broken punctured bicycle telling mercedes owner on how he should fix dents on his mercedes. For them, homelessness is small problem --- they have bigger problems like China, Islamic terrorism etc. So I would not offer any solution. Not that I dont want problem to be solved ---- but me sitting in India has no moral right to give advice to people in USA.
.
https://www.facebook.com/mehtarahulc/posts/10153071563456922
Why is homelessnes in Los Angeles , USA rising ? Because USA has law-draft that bank-property will NOT be taxed !!!
.
Most counties in USA tax home / business properties at the rate of 1% of market per year. But bank--owners have bribed / forced country heads to print a law-draft that unoccupied property owned by bank-owners via banks will NOT be taxed. So if a non-bank-owning property-owner has property, which is he using or keeping empty for re-sell, he has to pay tax. But bank-owners dont have to pay property taxes. Likewise, bank-owners also evade inheritance tax on those properties. How? The properties are owned by banks , and bank's shares are owned by Bank Holding Companies, which are privately held and NOT publicly traded !! And so valuation of shares of bank holding companies can be kept low by ensuing that bank's shares values remain low. which can be done by keeping loss making companies' bonds in banks !!! IOW, there are several ways to ensure that Bank Holding Companies' shares are valued at much lower than the real estate it represents.
.
So banks dont re-sell foreclosed property, to keep property values high. So defaulting homeowner becomes homeless. And many enterpreenurs cant buy land to run offices / businesses / factories , and so unemployment doesnt reduce, which further increases homelessness !!! To that, add 10s of cumbersome law-drafts such as labor laws and pollution control laws and labor safety laws which have made running business more and more difficult,.
.
The problem is least in USA, and much higher in Europe and India. But how USA is also facing heat due to such law-drafts.
.
Solution?
.
We should focus on solution to problems of India. Not that I am selfish, but me giving advice to USA on how they can fix their problems is like man on a broken punctured bicycle telling mercedes owner on how he should fix dents on his mercedes. For them, homelessness is small problem --- they have bigger problems like China, Islamic terrorism etc. So I would not offer any solution. Not that I dont want problem to be solved ---- but me sitting in India has no moral right to give advice to people in USA.
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