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by slyall
1234 days ago
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You obviously plan to live a long time. I'm unsure as to how this would prevent long term planning or investment. A one million dollar piece of land presumably has buildings on it worth at least as much. If it is bringing in something like $100,000 per year how would a $10,000/year tax completely make it impossible to build or invest. Land Taxes and Property taxes exist the world over. They rarely prevent development from happening and a pure land tax is designed to encourage development. |
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Per [1] if you're paying $10000 in tax/yr, being able to invest the same money would take 41 years at 5% interest (long term S&P 500 has been just shy of 10%) to reach $1m, 29 years with 8% interest (compounded annually).
1. https://www.investor.gov/financial-tools-calculators/calcula...