> Taxes ensure that current landowners cannot keep all the profit, but if they owned the land before the prices skyrocketed, they're still the main beneficiarie

> Taxes ensure that current landowners cannot keep all the profit, but if they owned the land before the prices skyrocketed, they're still the main beneficiaries of all the cash flowing in. If all the taxes SF levies were on the land, landowners would not make that much profits because it would strongly eat away at their earnings. High taxes are not a symptom of property values, high city spending is a cause not a symptom.