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Well to be fair buying 2-3 homes to rent is also undesirable rent-seeking, albeit on a smaller scale.
by andrepd 5y ago
Well to be fair buying 2-3 homes to rent is also undesirable rent-seeking, albeit on a smaller scale.
- fragmede 5y agoIt matters where the money goes afterwards. If it goes to a local landlord that spends it in that same neighborhood, improving it, vs going into an REIT that will make their investors, and their board, several states away happy. This is an important distinction that between trickle down theory and practice. Getting one person to $100mm vs making 10 people $10mm-airs vs 100 people to be single digit millionaires? Matters a lot in the long run, for a lot of reasons. We can't abolish rent-seeking entirely without overthrowing the whole system, so we have to realize that there are different shades of damage done by rent-seeking.
- andrepd 5y agoTrickle-down doesn't work at any scale. If you want money to "trickle" down to a group of people, simply give cash to that group of people. This means lowering taxes on labour, for instance. > We can't abolish rent-seeking entirely without overthrowing the whole system Well we can certainly ameliorate it. Implementing a proper Georgist LVT would be a nice first step.