Imagine Legislation That
Restores Inner Cities as Vital Economic Areas
 

Shifting from a policy of taxing production to taxing consumption immediately makes the use of existing resources more efficient. By taxing what is consumed, people become inclined to slow their consumption rate and begin to treasure the old rather than the new.

Under NESARA, all real estate sales are subject to a new national sales and use tax. The basis for existing property will be the last sale price, for new structures the basis will be zero. Therefore, new real estate developments suddenly become more expensive, older properties more valuable. This action inevitably slows the mad dash to abandon existing property.

At 14%, a new $200,000 suburban home carries a $28,000 national sales tax burden. Many people could achieve the same increase in standard of living, spend less money and avoid most of these taxes by playing “This Old House” with an older property.

With the new banking equations NESARA provides, the cost of borrowing money to purchase older homes drops dramatically.

With no income taxes, consumers retain more disposable income, and combined with a hope to be debt free and own a home, older properties with a lower cost become more attractive.

The net effect revitalizes inner cities and older neighborhoods at little or no cost to the government. In fact, federal, state and local governments all collect revenue from these activities while avoiding the expense of supporting new expansion projects. Instead of local governments having to provide “brownfield” legislation, citizens do the rebuilding.

Taxpayers win by purchasing less expensive older properties, avoiding some sales tax, and pay lower property taxes because of more efficient use of the existing infrastructure.

Revitalizing the inner city, at little or no expense to taxpayers, channels more private investment funds back to the older properties.

Businesses too will be once again attracted to the inner city as property values stabilize and business expansion becomes less expensive using older property. Relocating businesses to the inner city creates complete neighborhoods. As businesses spend less on their own infrastructure, and production costs decrease by eliminating the costs of the income tax, the door is opened for businesses to begin offering higher wages. Higher wages motivate people to stay located in the neighborhood.

As the inner city revitalizes, those areas once again become communities, where people take pride in their neighborhood. Restoring pride reduces stress. Building a community around both homeowners and business reduces transportation and commuting costs, thus reducing pollution.

More information about, and a copy of the bill, are located on this web site.