Comment by dhosek
2 days ago
Property tax increases are hamstrung by Prop 13 and until that’s repealed, will continue to be.
And while the wealthy always threaten to leave when faced with higher taxes, the fact is that they never seem to actually do so.
The site is based around georgism whose fundamental premise is that taxing land is the universal solution (much like for republicans cutting taxes is their solution to everything: economy going great? We should cut taxes. Economy going poorly? Cut taxes. Deficit too high? Cut taxes.) I don’t put much stock in analysis by single-solution thinkers.
They're hamstrung by property tax increases being massively politically unpopular. Prop 13 only bans taxes on the value of land, there's nothing stopping politicians from approximating LVT by an "urban acreage tax" based off plot size in cities other than the fact that it'd get them all voted out.
do they believe its a universal solution? or one tax among many that triggers a certain asset, land, to be used more efficiently?
> And while the wealthy always threaten to leave when faced with higher taxes, the fact is that they never seem to actually do so.
Around 2T worth of wealthy individuals left california when the wealth tax propositon was started.
Even the conservative states who supposedly stand for the individual can’t get anything like proposition 13 passed through their state legislature and it’s been over 48 years.