4 ms·
You can't simply call such a complicated thing a "mistake". You're suggesting encouraging people not save too much for retirement. Why discriminate against peop
by lopmotr 8y ago
You can't simply call such a complicated thing a "mistake". You're suggesting encouraging people not save too much for retirement. Why discriminate against people who are careful to prepare for their future and give free money to those who prefer instant gratification? Billionaires may own many houses and be more heavily penalized. They're also very few so it's no great loss to miss out on their small property taxes.
- boulos 8y agoMeans testing can be either income or wealth. Some countries prefer one over the other (the US prefers income, while the UK prefers wealth), and they have their upsides and downsides. I’ll note that most tax progressives don’t consider “billionaires own many houses” as being “more heavily penalized”. A progressive tax results in a higher rate not just a higher amount. Other proposals here of “only one first home”, are a good example of making property tax progressive. Note: I added an edit to my original comment, since billionaire was distracting. If you move this down to high net worth individuals, it is a significant group of people in California.