I do not think the statement is fair.

For example, JY101 has 134 units, if the average of his mixture of SFH and multi-family homes is $100K, and he pays 1% for property tax, that is $134K in tax per year.

The repair cost for 134 units will be around $40K material and $40K labor per year, and assume 7% sales tax, he paid another $2.8K in materials, and $30K for FICA and Medicare tax.

He also need renovate new acquisitions, say $75K in labor and $75K in material per year, The tax rate is same as the repair cost at about $5.5K.

See how much he pays to the government. It is enormous.

所有跟帖： 

• well the 30K FICA will be eliminated with 999 -秋色满院- ♀ (115 bytes) () 11/02/2011 postreply 16:46:19

• you mean no social security tax? Are we going to close SS progra -sweetptt- ♂ (0 bytes) () 11/02/2011 postreply 16:49:07

• no payroll tax. don't know about ss programs -秋色满院- ♀ (0 bytes) () 11/02/2011 postreply 17:02:10