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Good. The way countries allow the ultra-wealthy to park money in real estate and pay almost no taxes on it while it drives up the price of a necessary resource
by jmyeet 5y ago
Good.
The way countries allow the ultra-wealthy to park money in real estate and pay almost no taxes on it while it drives up the price of a necessary resource for everyone else has to stop. Period.
In an ideal world, this wouldn't be a ban per se. I'd prefer to see that owning a property anyywhere allows that jurisdiction to tax your worldwide income and assets of the beneficial owner as if they were a resident.
Double taxation treatires exist and can handle that case.
New York City (as one example) should be for New Yorkers, not Russian oligarchs, nonresident billionaires and corrupt heads of state.
- tomatowurst 5y agoThey aren't buying homes where you would live, they own vacation homes in 8 digit figure mansions that low liquidity. How do ppl keep making this mental gymnastics here? You want to ban REITs, institutional money and local landlords with access to near 0% debt buying up and flipping homes. The average immigrant that buys homes from them aren't here to start a portfolio, they can't By your argument, New Iroquais should be owned by the original people that lived there.