Tax Reform
Tax reform is an interesting topic because it is one that affects everyone and something that people often have lots of opinions about. In a speech or newspaper article, I don’t think you would want to focus too much on who is right or wrong, but instead, convey the information about what the current issues are and why they are important. In this advertisement, however, there is room to be more opinionated. For example, you could frame the advertisement to show people the lack of tax reform in a way that suggests reasons why this has been an issue:
In 2005, the Canadian real estate industry was one of the main contributors to the federal government's bottom line. In fact, it accounted for $31-billion of the total $110-billion in GST and other taxes collected by Ottawa that year.
Traditional property taxation exaggerates disparities in the distribution of wealth, penalizing people for successful investing and saving. Furthermore, since local real estate taxes are deductible from federal income tax, the current system encourages over-taxation at the federal level. The classic “rate and base” system guarantees that higher-wealth neighborhoods will pay a lower effective tax rate than lower-wealth communities and benefits wealthy taxpayers who live in high-income areas but have low local property taxes because they live in lower-valued homes.
Real estate Tax Reform is a bill that would cap property tax increases to 3 percent each year for homeowners, with an average savings of $6,000 per year. This legislation would also reform assessment practices to improve transparency and fairness for homeowners, to help prevent regressivity in property taxes, and ensure that everyone benefits from our economic recovery.
Through a combination of unnecessarily complex tax laws, manipulation by the wealthy and their lobbyists, and loss of relevance on today's changing economic landscape, the real estate tax system is broken. It works for some people but not for most Americans.
There is a large population of middle class citizens that pay a disproportionate percentage of their income in taxes. This law will help the middle class by not only lowering income tax, but by decreasing the property taxes as well. This gives citizens more money to spend on necessities.
In 2005, the Canadian real estate industry was one of the main contributors to the federal government's bottom line. In fact, it accounted for $31-billion of the total $110-billion in GST and other taxes collected by Ottawa that year.
Traditional property taxation exaggerates disparities in the distribution of wealth, penalizing people for successful investing and saving. Furthermore, since local real estate taxes are deductible from federal income tax, the current system encourages over-taxation at the federal level. The classic “rate and base” system guarantees that higher-wealth neighborhoods will pay a lower effective tax rate than lower-wealth communities and benefits wealthy taxpayers who live in high-income areas but have low local property taxes because they live in lower-valued homes.
Real estate Tax Reform is a bill that would cap property tax increases to 3 percent each year for homeowners, with an average savings of $6,000 per year. This legislation would also reform assessment practices to improve transparency and fairness for homeowners, to help prevent regressivity in property taxes, and ensure that everyone benefits from our economic recovery.
Through a combination of unnecessarily complex tax laws, manipulation by the wealthy and their lobbyists, and loss of relevance on today's changing economic landscape, the real estate tax system is broken. It works for some people but not for most Americans.
There is a large population of middle class citizens that pay a disproportionate percentage of their income in taxes. This law will help the middle class by not only lowering income tax, but by decreasing the property taxes as well. This gives citizens more money to spend on necessities.