The conclusion:
A region that allows ample new supply and imposes higher property taxes is friendlier to households with lower incomes than a region with obstructed housing supply and low property taxes.
Wednesday, August 14, 2019
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Another advantage of property taxes is that they would allow a decrease on the reliance on income taxes.
ReplyDeleteAs you may know, there is a great deal of difficulty in giving poor people benefits which are then withdrawn as income rises, which leads to effectively very high marginal tax rates. Additionally, very productive people often complain that they face High marginal tax rates.
Moreover, income taxes, globally and domestically, personal or corporate, have become a shell game Gong Show. Property taxes cannot be dodged although ownership may remain obscure.
But I see absolutely zero traction towards moving to a system of property taxes in the United States.
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ReplyDeleteAnother benefit of property taxes is that they would reduce the amount of money spent on income taxes. By the way, I need information about informational report writing here. During this time, Your post is very informative for my friends and me. Thank you for your sharing.
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