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>Probably the least complicated tax law. Increase taxes to increase revenue. Makes sense. Not so fast. 1) It is complicated. It has progressives rates that st
by nonethewiser 5mo ago
>Probably the least complicated tax law. Increase taxes to increase revenue. Makes sense.
Not so fast.
1) It is complicated. It has progressives rates that start out higher for 2 years then decreases but coincides with how the base is calculated.
2) The budget projections assumes no behavioral changes from the taxed residents. This doesn't seem like a safe assumption. You should at least assume some amount of the tax base leaves since it disincentives 2nd properties.
This doesnt mean its a bad plan. But it's definitely not the least complicated tax law. I'd say thats more like sales tax or something.
- Neywiny 5mo ago1) A bit of hyperbole on my part but consider that minimum wages and other worker benefits have worked like this for a long time. They tend to ramp up. 2) good. The more people who are in the city the more actual sales tax and other revenue is generated.