Re:We are publishing the tax secrets of the .001%
by TheOtherHobbes on Tuesday June 08, 2021 @02:31PM
(#27439013)
And this is why property prices are insane.
Investments of all kind receive generous tax breaks even when they're simple rent seeking.
So you get the triple whammy of unaffordable prices with unaffordable rents with downward pressure on wages - because the rent-seeking behaviour of share holders is privileged over the value of the work that underpins it.
It's not just a recipe for economic disaster for most of the population, it's also a recipe for political instability. In a democracy everyone should feel like the system is working in their interests.
When essentials become unaffordable and pricing becomes punitive and extortionate, people get angry and start to act in insane ways.
Investments of all kind receive generous tax breaks even when they're simple rent seeking.
So you get the triple whammy of unaffordable prices with unaffordable rents with downward pressure on wages - because the rent-seeking behaviour of share holders is privileged over the value of the work that underpins it.
It's not just a recipe for economic disaster for most of the population, it's also a recipe for political instability. In a democracy everyone should feel like the system is working in their interests.
When essentials become unaffordable and pricing becomes punitive and extortionate, people get angry and start to act in insane ways.