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Many of the NIMBY property owners are not nearly wealthy enough to be affected by most wealth tax proposals (e.g., the "few tens of millions" suggested in the a
by BrenBarn 6mo ago
Many of the NIMBY property owners are not nearly wealthy enough to be affected by most wealth tax proposals (e.g., the "few tens of millions" suggested in the article).
- JuniperMesos 6mo agoMany NIMBYs are basically ordinary middle-class people who are old enough that they were able to buy the house they live in decades ago before the price of properties in their area got bid up; so most of their wealth is locked up in the same house they are currently living in. Taxing the extremely wealthy basically does nothing to decrease the property values of this class of people en masse, and decreasing their property values en masse is precisely what it would mean to make housing more affordable for more people.