Why Personal Property Tax Is So Unfair

If you’re not from the United States, you might be shocked to learn that many states have an annual personal property tax also known as vehicle tax, that every vehicle owner must pay. This may seem fair on the surface, but in reality, it’s incredibly unfair, and here’s why.

Property Taxes In General

personal property taxes are a thing of the past. However, for those who live in states with personal property taxes, they can be a real pain. Personal property taxes are based on the value of your household goods and belongings that you own and that you use every day. These items include your car and your furniture, but also less common objects like jewelry and sporting equipment. The rate varies from state to state. There are typically two different ways in which you can go about paying these taxes. You can either pay upfront when something is assessed or wait until the end of the year when it comes time to file your annual return.

Explanation Of How The System Works

When it comes down to it, the only people who pay taxes are individuals. Corporations can sell their assets and avoid paying any taxes, but you and I can’t do that.

There’s a lot of talk about how tax breaks for corporations will help the economy, but in reality, what they’ll do is incentivize companies to move their operations abroad where they don’t have to worry about being taxed at all. Personal property tax isn’t just unfair because it’s an unpleasant thing to pay you to have to pay it even if you’re not making any money from your business. That means that if you’re a starving artist or someone who has a small business that fails after a while then you still have to keep paying this onerous fee every year no matter what.

The Truth About Who Pays The Taxes

The truth of the matter is that most people don’t pay taxes. The average family pays less than of their income in taxes. They only have to pay a little more if they’re wealthy, but then it’s considered fair because they have a lot of money and can afford to give up some of it. However, it’s not fair when you think about what the government does with your money. For example, imagine that you’re walking down the street on a sunny day and you see a homeless man sleeping on the sidewalk. You know he doesn’t have anything since he doesn’t have any shelter or food, but you still pass by him without giving him anything because you’ve spent all your money on things like rent and food for yourself and your family.