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by ZeroGravitas
3215 days ago
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Most land value tax proposals have exemptions for a person's personal home. But even if they didn't, we have financial instruments that can release the value stored in an asset like a home. If the owner looks at the situation and decides to sell and move somewhere cheap and have lots of money to spend then great, if they decide to unlock the value in their land via a mortgage because living exactly there is worth more to them then what they pay in taxes then that's also great. In both situation they are richer, and they have the opportunity to decide how to spend these riches they have accidentally acquired. Either way, they're not poor people. Poor people would be affected by the lack of affordable housing in areas close to work though. |
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