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If people were taxed less, housing and rent would be even more expensive in SF. The solution to the problem is not taxing people in SF less. This is the same f
by onlyrealcuzzo 6y ago
If people were taxed less, housing and rent would be even more expensive in SF.
The solution to the problem is not taxing people in SF less. This is the same flawed idea that the solution to houses being unaffordable is to have a mortgage interest deduction and (previously) a property tax deduction for home-owners.
All this did was make houses and land more expensive to make up for the tax deduction.
- maerF0x0 6y agoI agree that the solution to housing crisis in California is not by reducing taxes. I'm pointing out that progressive taxes on those who, on a cost of living adjusted basis, have less than their less progressively taxed peers. I full agree that housing costs should not be deductions. Another way to think about it is that in a high CoL markets, not only does a marginal dollar buy you less marginal goods (such as a burrito), but you also are likely in a higher marginal tax rate making it geometrically worse.