[jrpt]

But I'm saying the effect could be a net transfer from taxpayers (people with medium to high income) to landowners especially real estate companies. Since much housing stock is owned by a business which may even be operated at 0 net income... which means the business would be paying no corporate income tax. And the property taxes are incredibly low in CA since prop 13 applies to commercial real estate as well. So it's likely to mean the personal taxpayer (income tax and sales tax account for the majority of the revenue) subsidizing the real estate companies.

I don't know how strong the effect would be, but if true, the effect of basic income would be a strong subsidy from taxpayers to real estate companies.