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Institute high Land Value Tax and eliminate most zoning and JPM can do whatever they want with their money. They’ll just have to compete on units and services p
by ethanbond 4y ago
Institute high Land Value Tax and eliminate most zoning and JPM can do whatever they want with their money. They’ll just have to compete on units and services provided instead of who had enough capital to capture indefinite land rent.
- slaw 4y agoWe should start with Federal ban on zoning.
- onlyrealcuzzo 4y agoSo you wouldn't mind if someone surrounds your house with landfills and nuclear waste storage? Most zoning seems to make life worse for renters. But not all zoning is bad.
- slaw 4y agoI mean zoning for house development. Article is about homes, isn't it?
- MerelyMortal 4y agoNo neighbors and a safe neighborhood? Don't temp me.
- rcpt 4y agofwiw where I live in Los Angeles we have actual operational oil derricks right in the middle of residential neighborhoods but it's nearly impossible to build apartment buildings. https://www.theatlantic.com/photo/2014/08/the-urban-oil-fields-of-los-angeles/100799/ https://www.theatlantic.com/photo/2014/08/the-urban-oil-fiel... If zoning can't prevent the heaviest of heavy industries from sharing space with schools and playgrounds then I don't see why keeping it around to kill new housing projects is so useful.
- vasco 4y agoLand value tax which is free if you live in an owner occupied property, without the ability to sublet. Higher if rented out, and then make a linear increasing penalty percentage with the number of properties owned. So if you own one house and live there, zero tax. If you own 5 properties, you pay zero on the one you live in, then regular tax on the second, tax+penalty on the third, tax+higher penalty on the fourth, etc. It would not make any sense to create real estate ETFs under this world for example because the tax penalty would be extremely high.
- rgrieselhuber 4y agoThis is much better. Why tax families who live in their homes the same way as landlords with large holdings?
- sokoloff 4y agoThat depends on what the purpose of the tax. If it’s to pay for local government services (fire, police, trash removal, schools), then why would you tax them differently? If taxes are mostly punitive means to shape behavior, then sure.
- rcpt 4y agoFamily of renters here. Why should we have our labor taxed to support a different families idle wealth accumulation?
- BirdieNZ 4y agoBoth are benefiting from the labour and value created by the rest of society, outsized to their contributions. Land receives its value due to all the infrastructure, people, businesses, and so on that are around the land, and everyone who owns land benefits from this as their land value increases. Owner-occupiers benefit just as much as landlords (they are, in fact, lords of their land too, but their tenant is themselves). They should return to society the value that society created for them, in the form of a land value tax. This should of course be offset by a reduction in other taxes, but it is a supremely just and efficient tax and far preferred to most other taxes.
- megatest123 4y agoJPM and the capitalists effectively own the Congress so they would never implement a Land Value Tax
- rqtwteye 4y agoThey give diversity and abortion to the left wing plebes and guns and religion to the right wing plebes but would never do anything that costs the capitalists money or power.
- hotpotamus 4y agoI don't think Congress even matters anymore now that the Supreme Court and lower courts are owned by the Federalist Society. I suspect any attempts to tax capital will be determined to be unconstitutional now. The US is locked in all the way.
- matheusmoreira 4y agoAre you seriously suggesting there's a judiciary dictatorship installed in the USA right now? There's one where I live and also in many other south american countries but I never expected the US to be that corrupt.
- geocon 4y agoNah the Supreme Court is pretty deferential to Congress especially on powers of taxation, this is a load of nonsense
- hotpotamus 4y agoFor 50 years in the US, women had some rights of bodily autonomy that they lost this year because of the Supreme Court. Whether you agree with that outcome, it seems hard to deny the immense power there, and why there has been a multi-decade campaign on the right to control it. Look up the controversy over a wealth tax - most Conservatives would tell you it's unconstitutional and/or wildly impractical, but I pay property taxes every year which sure feel like a wealth tax.
- newaccount2021 4y ago[dead]
- larsiusprime 4y agoExactly this. Here's a good source for the two-pronged approach that's necessary to solve this problem, in case anyone's curious: https://progressandpoverty.substack.com/p/land-and-the-liberty-to-build-on https://progressandpoverty.substack.com/p/land-and-the-liber...