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A comment on California homeowners made more money in equity than workers made in income. Parent comment

Re:California homeowners made more money in equity than work... by dzhiurgis on Saturday June 12, 2021 @05:34PM (#27487604)
That immediately fires back at the poorest who can only afford to rent - good chunk of the tax will be passed onto them.
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Re:California homeowners made more money in equity than work... by imtringued on Sunday June 13, 2021 @08:53AM (#27492167)
It doesn't work like that. Landlords already charge the highest possible rent. If they didn't, you wouldn't be allowed to complain about high rents because current rent prices are artificially held down by landlords.

The tax is cutting into profits of landlords that were derived from the value of the land. They still end up charging the same rent.

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Re:California homeowners made more money in equity than work... by zzzzzzzza on Saturday June 12, 2021 @08:26PM (#27488645)
this is wrong, because land is inelastic.

you can tax land value at 100% and there will be no less land.

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Re:California homeowners made more money in equity than work... by erichocean on Saturday June 12, 2021 @10:24PM (#27489255)
Think of the poor!

If that hasn’t convinced you, think of the children!

If I can identify even one person who might be marginally worse off by a particular policy, we definitely can’t do it. That’s what the founding fathers would want!

/s

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