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That does sound reasonable. People game the current system to the maximum. How would you expect people to game a system of taxing the obvious assets, and what c
by psweber 7y ago
That does sound reasonable. People game the current system to the maximum. How would you expect people to game a system of taxing the obvious assets, and what could be done about it?
- mattrp 7y agoThe way they would game it would be by building unpermitted structures. Read Hernando de Soto’s mystery of capital - he talks how this happens all over the world as a way to store wealth. The problem is it can’t be financed so the capital is stranded and it’s unsafe - many years ago there was a small earthquake (maybe a 6) in turkey and it leveled the region despite earthquake building codes that had been in place for decades. If you had an old structure it survived, the new ones were decimated. Why? The unpermitted buildings avoided the building code regulations. Anyone remember the last time LA had a six earthquake... that’s right you don’t because no one in LA cares about a six because we haven’t yet destroyed our economy through perverse taxing and over regulation.