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I don't think "most economists" have a favorable view of it. It is a fringe theory from the 1800s that has never been implemented. It is super regressive and e
by s1artibartfast 2y ago
I don't think "most economists" have a favorable view of it. It is a fringe theory from the 1800s that has never been implemented.
It is super regressive and effectively replaces everything with a housing tax and food tax.
It would be a massive tax break for the rich. IP, stock, and service income would be tax free.
It is primarily popular with a narrow band of white collar technology workers because it would benefit them immensely as their 500k SWE salary become tax free to be picked up by some poor school teacher living next door.
- chgs 2y agoTeacher can’t afford to live next door because a retired couple that bought for 2 times their salary in 1975 live in a million pound house. They instead rent an hour away and already pay a tax for land use, just they pay it to the land owner.