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In addition to what tptacek said, taxes are paid with money which is an infinitely fungible commodity. Eminent domain confiscates a specific piece of property t
by harryh 7y ago
In addition to what tptacek said, taxes are paid with money which is an infinitely fungible commodity. Eminent domain confiscates a specific piece of property that cannot be precisely replaced.
- scarface74 7y agoMoney is a fungible commodity but a house isn’t. You can’t sell part of a house. If that’s where all of your wealth is. You
- harryh 7y agoYou can’t sell part of a house. Sure you can: https://point.com/how_it_works https://point.com/how_it_works
- scarface74 7y agoFair enough so we should also tax equity in private companies. That money could also be used for positive economic activity.....
- harryh 7y agoI'm glad you've come around to my p.o.v. on property taxes! The pros and cons of a mark to market capital gains tax are pretty far outside of the scope of this thread, so I will save my thoughts on them for another day.
- scarface74 7y agoIt’s the same concept. You want to tax illiquid unrealized wealth that may force people to sell the underlying illiquid asset to pay taxes.
- harryh 7y agoI already covered this way upthread. Property taxes aren't wealth taxes, they're consumption taxes.