From the USA Today Newspaper, May 24, 2007
"Ron Baron, founder of the Baron Funds investment company, has paid a record $103 MILLION for a residential property in East Hampton, NY. And get this, the price doesn't even include the cost of the house he wants to build. That price is equal to what Texas plans to spend on border security this year-- tops a record set in 2004 when Revlon Chairman Ronald Perelman sold his estate in Palm Beach FL for $70 million"
"Overall in the USA, home sales slid 8.4% last year...but for residences priced at $5 million or more, sales soared 18% for 2006, and 31% in the first quarter of this year"
The State of Florida is wrestling with property tax issues and property insurance issues that have made affordable homes a true dream for thousands of residents. The middle class (however you define it) is being hit on from all sides. The price of gasoline soars as oil companies burn $100 bills to light their cigars, laughing all the way to the bank.
What is your experience? Do you see a growing disparity between the "Haves" and the "Have nots"? Will there eventually be a revolt as the rich keep getting richer and lock themselves away behind multi-million dollar mansion gates? Are you fed up with the way the government cuts taxes for the rich and sets up special rules for them? Rant away....


Comments: 19
The amount of money we would need to amass for a down payment for a 2 bedroom apartment here, would buy us a small home in other parts of the country.
Well David, I see it on many levels. Being middle-class in the U.S. is being a "have" compared to so very many people around the globe, but I get what you're saying. Is the gap widening or can we just see it more clearly? Is the disparity sharper? Perhaps. I can't fathom spending that kind of money on real estate, no matter what the market.
It seems that's creeping up on society, but I'm not certain what the eventual outcomes might be. Maybe we should examine history - where should we start?
On the other end is the "haves" - I'm tired of their tax breaks - and maybe they did contribute to social security, it tires me to see them get it while they live off of their interest and complain about how expensive food is.......all I have to say is "walk in my shoes for a week and then shut up."
Yet we can't solve all problems. It's much more comforting to think about how others have more than we do, and to secretly want their life of ease.
All is not easy for those who do manage to achieve much in this world. Taxes might not be too greatly eased. The democrats have control of the House and Senate. Supposedly, they should be able to set tax levels. They might choose to raise everybody's taxes. After all, there will probably be a need to pay for the hike in the minimum wages recently signed into law.
Maybe now two adults who work full time minimum wage jobs might not still be below the poverty level. Of course, maybe their employer will need to lay off one of the workers now.
We live in So Cal so I think the actual property values are just inflated all to hooey anyway and any one of them would be worth half as much or less anywhere else in the country.
As for property taxes we pay through the nose until we bleed greenbacks and don't get any breaks because they are all paid for but come on, one of them is a one room cabin on less than 1/4 acre of land with separate closets and a bathroom, it has murphy beds in the wall and it was built in what was originally a little hardly known mountain town.
One day someone decided the town was now to be a resort town because they started selling bottled water from there, added a dock to the lake and built a fancy town center and the value of the cabin soared higher than our three bedroom home on a full half acre of real estate twenty five miles away and not in a 'resort town' over night without us doing any improvements.
Meanwhile at our other house twenty five miles away the city all of a sudden decided to incorporate and bam! we got hit again as property taxes tripled.
We pay taxes in three different counties and every year they seem to just climb and while I am not complaining about paying our fair share of taxes we owe it makes me wonder how much of the taxes we and others in the lower income brackets than the very rich are being hit over the head for are going to cover taxes that should be paid by the billionaires for their mansions and corporations here in So Cal like this Ron Baron person in Florida.
Everybody wants to get government benefits, but things somebody else should pay. It's easy to spend somebody else's money.
We get no help from the government, well, they do allow us to "rent"(prpoperty taxes) the home we are already making payments on so......
Yeah i know it akes no sense and i'm rambling, i need more coffee before i get to cranky!
1. To answer your question,"Yes," from what I've seen there is "...a growing disparity between the "Haves" and the "Have nots."
2. "Will there eventually be a revolt as the rich keep getting richer and lock themselves away behind multi-million dollar mansion gates?"
Looks to me like the rich are getting ready for a revolt by the "Have nots."
3. Are you fed up with the way the government cuts taxes for the rich and sets up special rules for them?
Yes, Sir! That's my babee... and even read of a few ways on how the "Haves" get around even the regular rules in little articles in the WSJ - though not glaring headlines, at least, it was right there in the WSJ.
4. Sense of community? Yes, more involvement in both small and greater community. Not buried away in a gated community. Not with everyone, but it seems there is more of a "not my problem" attitude. Or, just don't mess with me or my family. As David says, "...re-establishing a sense of community."
The poor living on the streets - shame on us. With so little, I've met some incredibly generous individuals. ie just because I chatted to one, invited me for a Jr Burger and another a plastic glass of their rotgot vodka. I accepted with joy and together we enjoyed precious moments enjoying the park and life. When I arrived home, their caring moved me to tears, as I am now... just thinking of them.
The poor who have a place of their own to sleep. As long as they don't hurt anybody, I cannot condemn their despair in taking solace in something I might not.
Middle class are struggling.
The wealthy and their homes David described are to me outlandish and unnecessary. I wish they could find the love they are seeking and, maybe, the distribution of "monies" would be better spread around for less disparity to the "Have nots."
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alex
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