3 ms·
what we need to do is replace income taxes with land value taxes...oh your property is worth 3 million now? Well then that'll be 5k taxes per month. What? I ca
by gremlinsinc 5y ago
what we need to do is replace income taxes with land value taxes...oh your property is worth 3 million now? Well then that'll be 5k taxes per month.
What? I can't afford that!
Oh, that's sad. I guess you'll have to sell...holding real estate isn't for everybody... and thus --assets will start to be released faster and faster and prices will come down.
- adam_arthur 5y agoEconomists generally agree that land taxes are some of the most "efficient" and societally beneficial, because they encourage full utilization of the land. By having a land tax, you push people towards societally more productive outcomes. E.g. a SFH in city center would have a very high tax rate, encouraging redevelopment to multifamily. Income taxes do the opposite somewhat, by discouraging more labor.