Florida Man Rules!!

Florida Man Ron DeSantis is shaking things up—proposing to ditch property taxes! You don’t truly own your home; miss a tax payment, and the government—aka the ‘Lord’—takes it. DeSantis and Senator Jonathan Martin want a study to swap property taxes for consumption-based sales taxes, cutting budgets and boosting business appeal. Florida’s already a magnet with no income tax and booming infrastructure, but this could be a game-changer. It’d free folks from ‘golden handcuffs’—stuck in homes because moving hikes taxes. A step toward real freedom: own your home, for real. www.watchdogonwallstreet.com

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader. Chris Markowski Florida
Man rules.

Speaker 2 (00:19):
Who is this Florida Man? Ron DeSantis, the governor of Florida.
He is proposing right now something that I've talked about
this for a very long period of time. Again, it's
one of the one of the things that we just
we just do here in this we just accept here

(00:40):
in this country, and for whatever reason it may be,
no one really gives it much thought. That's property taxes.
I've done shows on this over the years, and you
know the people i've you know, this idea that you
actually own properly property, you actually own your own home.

(01:01):
You don't, okay, you don't own your own home, You
don't own property. We are all living more basically, you know,
we're serfs on the lord's manor. And who's that lord?
That's the government. You buy a house, you pay for
it full. Guess what happens if you don't pay property taxes,

(01:26):
they take your house. They take your house so your
house is not yours. Okay, if they can just take
your house because you don't give the lord money, then
technically it's the lord's house. Am I wrong here in
that assessment? No, I'm not. And for years I've talked
about this. I want to talk to in terms as

(01:47):
well when it comes to federal income taxes different light.
I'm a big believer that there should be consumption based well,
Ron DeSantis right now, and he said, Florida's regular legislative
session starts next week, and Senator Senator Jonathan Martin recently

(02:09):
filed a bill to study a framework to eliminate property
taxes and to replace property tax revenues through budget reductions,
sales based consumption taxes, and locally determined consumption taxes authorized
by the legislature. The study must include, among other things,
an evaluation of whether a shift to consumption based taxes

(02:31):
would make Florida more attractive to businesses compared to other states.
I mean, it's already a very competitive state as far
as businesses are concerned, and becoming more so. More infrastructure buildouts,
more work done at various different airports. Again, a lot
of infrastructure still needs to be done because people keep

(02:53):
coming here, not to mention the fact you have no
state income tax and it's a very good climate for
conducducting business. This, in my opinion, would be a game changer.
One of the things that Florida has experienced because of
the mass influx of people over the past two three

(03:16):
decades is that we do have homestead exemption. However, you
only have a carryover of a certain amount, So people
find themselves in homes that they may have bought thirty
years ago. Let's say, for no joke, four hundred thousand,
five hundred thousand. It's now worth two mil. And they

(03:41):
may not want that house anymore. Kids are gone out school,
and what they have is what we like to call
golden handcuffs. If they decide to move, well, they're gonna
you know, they're going to be paying more, a lot
more in property taxes. So again they're handcuffed to that

(04:02):
home because they don't want their overall expenses to have
to go up. That's a problem, and again this is
something that the state needs to deal with to help
free up the real estate market to some degree. Plenty
of people, plenty of people would love to move here
all the time. I love to move. But again it's
going to kill me in taxes. What's the point. So

(04:23):
again a step in the right direction. Also, like I said,
I think it is a it's a freedom based initiative.
Imagine say you know you could the only state is
the one state in the country where you can come
and you can you will actually own your home, free
and clear. Watchdog on Wall Street dot Com