This IMF report on property tax suggest that such taxes are suitable tools to use to reduce property price volatility and dampen prices.
I'm a big fan of property tax as it is equitable and counters some of the structures we have in place which disenfranchises the young.
In my opinion one of the most unjust things about our taxation system is that it penalises the acquirement of wealth, particularly through economic activities which actually create that wealth. At the same time we don't touch wealth retention and have much lower rates of tax on wealth that is acquired through activities which doesn't actually create that wealth.
It's as if a bunch of us have been playing Monopoly for hours and then someone else joins the game. If all they start off with is what we started off with they'll never catch up.
What are poster's thoughts on property tax?
I'm a big fan of property tax as it is equitable and counters some of the structures we have in place which disenfranchises the young.
In my opinion one of the most unjust things about our taxation system is that it penalises the acquirement of wealth, particularly through economic activities which actually create that wealth. At the same time we don't touch wealth retention and have much lower rates of tax on wealth that is acquired through activities which doesn't actually create that wealth.
It's as if a bunch of us have been playing Monopoly for hours and then someone else joins the game. If all they start off with is what we started off with they'll never catch up.
What are poster's thoughts on property tax?