4 ms·

Sorry, my compassion for the tax problems of millionaires is somewhat low.

by Redoubts 9y ago

unethical_ban 9y ago
Sorry, not all people affected by gentrification and urban growth are millionaires.
- Redoubts 9y ago
  They are in this discussion.
adolph 9y ago
Your feelings don't matter. The political viability of a solution matters. Nobody got (re-)elected saying "let's tax granny." Moreover, granny might be a paper millionaire based on the current valuation of a principal asset but otherwise be eating cat food. Why doesn't she just cash out? I think the below linked blog post has some insight into how each asset of a person isn't an isolated atom but represents a structure of complements. For example, maybe Granny can't drive and walks down to the community center every day to help immigrant kindergarteners learn to code. If she moved maybe she loses exercise and a reason to live and her lives and those of others are negatively impacted in ways money from selling a house can't fix. Or maybe, since Halloween is coming up, she is a sadistic cat killer and if she sells her house and moves the whole neighborhood is overrun with feral felines reducing everyone's property value due to fears of cat scratch fever. http://marginalrevolution.com/marginalrevolution/2017/10/self-assessed-property-taxation.html http://marginalrevolution.com/marginalrevolution/2017/10/sel...
- Redoubts 9y ago
  If the neighborhood is so nice, she can trade up for a townhouse or condo in the area. None of those problems are solved with a low density single family home. > Your feelings don’t matter They do when the argument begins and ends with tugging at my heart strings. And I honestly don’t see these Jarvis arguments from the 70s holding up for much longer. Not when everyone else is hurting.
  - malloryerik 9y ago
    Yes! Also, a land value tax does not tax the property value, but only the land's value, so the same amount of tax is owed by these neighboring plots: 1) an empty lot, 2) a single family home, and 3) a 30 floor residential tower, presuming they're equally-sized lots with equal land value. If granny's taxes are high, the answer is to put her land to productive use like by adding rental units instead of growing zucchini. Or sell and buy better land for hobby zucchini gardening (or grow it on the roof of her new tower). Regulations don't allow her to add rental units? Then it's the regulations that are bad, and finally land value taxes are aligning land owners' and renters' interests instead of dividing them.
- deleted 9y ago
  [deleted]

Sorry, my compassion for the tax problems of millionaires is somewhat low.

unethical_ban 9y ago

Sorry, not all people affected by gentrification and urban growth are millionaires.

Redoubts 9y ago
They are in this discussion.

adolph 9y ago

Your feelings don't matter. The political viability of a solution matters. Nobody got (re-)elected saying "let's tax granny." Moreover, granny might be a paper millionaire based on the current valuation of a principal asset but otherwise be eating cat food. Why doesn't she just cash out? I think the below linked blog post has some insight into how each asset of a person isn't an isolated atom but represents a structure of complements. For example, maybe Granny can't drive and walks down to the community center every day to help immigrant kindergarteners learn to code. If she moved maybe she loses exercise and a reason to live and her lives and those of others are negatively impacted in ways money from selling a house can't fix. Or maybe, since Halloween is coming up, she is a sadistic cat killer and if she sells her house and moves the whole neighborhood is overrun with feral felines reducing everyone's property value due to fears of cat scratch fever. http://marginalrevolution.com/marginalrevolution/2017/10/self-assessed-property-taxation.html http://marginalrevolution.com/marginalrevolution/2017/10/sel...

Redoubts 9y ago
If the neighborhood is so nice, she can trade up for a townhouse or condo in the area. None of those problems are solved with a low density single family home. > Your feelings don’t matter They do when the argument begins and ends with tugging at my heart strings. And I honestly don’t see these Jarvis arguments from the 70s holding up for much longer. Not when everyone else is hurting.
- malloryerik 9y ago
  Yes! Also, a land value tax does not tax the property value, but only the land's value, so the same amount of tax is owed by these neighboring plots: 1) an empty lot, 2) a single family home, and 3) a 30 floor residential tower, presuming they're equally-sized lots with equal land value. If granny's taxes are high, the answer is to put her land to productive use like by adding rental units instead of growing zucchini. Or sell and buy better land for hobby zucchini gardening (or grow it on the roof of her new tower). Regulations don't allow her to add rental units? Then it's the regulations that are bad, and finally land value taxes are aligning land owners' and renters' interests instead of dividing them.
deleted 9y ago
[deleted]