[harryh]

In addition to what tptacek said, taxes are paid with money which is an infinitely fungible commodity. Eminent domain confiscates a specific piece of property that cannot be precisely replaced.

[scarface74]

Money is a fungible commodity but a house isn’t. You can’t sell part of a house. If that’s where all of your wealth is.

You

[harryh]

You can’t sell part of a house.

Sure you can: https://point.com/how_it_works

[scarface74]

Fair enough so we should also tax equity in private companies. That money could also be used for positive economic activity.....

[harryh]

I'm glad you've come around to my p.o.v. on property taxes!

The pros and cons of a mark to market capital gains tax are pretty far outside of the scope of this thread, so I will save my thoughts on them for another day.

[scarface74]

It’s the same concept. You want to tax illiquid unrealized wealth that may force people to sell the underlying illiquid asset to pay taxes.

[harryh]

I already covered this way upthread. Property taxes aren't wealth taxes, they're consumption taxes.