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A comment on JPMorgan to spend $1B on rental homes in the US to become a megalandlord. Parent comment

Re:JPMorgan to spend $1B on rental homes in the US to become... by rcpt on Saturday December 31, 2022 @11:14AM (#34197741)
I've never heard this one before and I have an unhealthy obsession with housing discourse.

The idea is to divide up income tax brackets based on property wealth instead of income level? That's interesting. Is it just your idea or something people advocate for somewhere?

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Re:JPMorgan to spend $1B on rental homes in the US to become... by geocon on Saturday December 31, 2022 @11:39AM (#34198073)
Land value tax is better, imo, it charges directly based on the value of the scarce factor of production (land) and encourages development (i.e. more housing). Pretty silly to tax someone who owns a bunch of apartments in the middle of nowhere tons more than someone who owns one megamansion in LA.
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Re:JPMorgan to spend $1B on rental homes in the US to become... by fundad on Saturday December 31, 2022 @11:49AM (#34198174)
That’s what property tax is
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Re:JPMorgan to spend $1B on rental homes in the US to become... by thunkshift1 on Saturday December 31, 2022 @12:07PM (#34198364)
No it isnt
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Re:JPMorgan to spend $1B on rental homes in the US to become... by scotty79 on Saturday December 31, 2022 @01:50PM (#34199423)
The idea is to increase the amount of real estate tax to be paid accordingly to the amount of real estate properties you own.

If you own a house you should pay higher tax on it than your neighbor that has the same house but doesn't have 30 other houses like you do.

And of course you should pay more on each of the 30 houses you own.

Basically large propery owners should pay higher real estate tax than it would be paid if their real estate was split up between multiple smaller owners.

That's why I mentioned subsidiaries, so you can't fake-split ownership.

[ Parent | on HN ]