Originally Posted by chiefst2000
Most hotels are privately owned. I know this because I am part of an investment group that built two of them in Florida. One is a Marriott and one is a Hilton. We purchased the land, partnered with a management company, jumped through years of hoops with local governments, the EPA and the like. Ran it to cost overruns that would make your skin crawl. Even still the investment teeters on the brink of loss at every moment. Even now the management company is making moves to account for the new Obamacare laws by reducing employee hours to get under the 50 full time employee threshold. Your reading of the numbers is wrong.
That said, if the whole point of your baiting argument is to say that we should simply have a flat tax on all income and get rid of the distinctions between payroll and investment income I would support that type of tax system. Right now the government uses the tax code to encourage certain behaviors from the citizenry. Be it home ownership or marriage or having children or saving for retirement. They would lose that capability with a flat tax stystem for better or worse.
I did some work for a resort golf course hotel VERY famous, you would know the place if I said.
Investors lost millions. Changed ownership in 2006 or so and the knew owners paid FMV and when 2008 came and corporate travel was frowned upon...they lost it in bankruptcy.