[vannevar]

A progressive property tax would actually lower housing costs, by reducing real estate prices. There would be a homestead exemption, so there would be no impact on taxes for individual homeowners. I think it would tend to stabilize rents, as larger landholders would be forced to shed properties, which would be snapped up by smaller ones. The overall effect would be a decentralization of real estate, which in turn means a decentralization of wealth.