Reply #12: Progressive Property Tax Credits [View All]

[hopfen]

It is nice the tax credit is progressive, motivating people who don't own land to own land. The collapsed real estate market is a good thing in disguise. I just fear calls for broad-based property tax cuts since that would motivate real estate investors and other robber barons to buy up land, driving prices up again where the poor and middle class will not be able to afford homes again, turning them into rent slaves.

Property should be taxed on value, but it also needs to be taxed according to who owns it. A person who owns 10 properties should pay higher rates on all properties. A person who owns 1 property should pay no taxes or a lower rate. A person who owns no property should get a check from the government, funded by the taxes paid by the wealthy land owner. We are all equal share holders of the planet. The planet was not created by the labor of wealthy people.