And of course you would fall in this demographic, amirite? Fuck the poor, don't mess with the salaries of the rich.
> building tons of extra housing and bankrupting private equity groups
They'd just continue to buy up that new housing. This can't change without taxing the land value.
Shall we all wait for covid20 to wipe out enough people that the housing supply overwhelms demand and prices drop?
Land value taxes and Georgism in general are utopian nonsense that have never done any good anywhere at any time. People love to trot them out as solutions to the housing affordability problem but can never show how they would help -- because they can't help!
Building more housing is the only solution, everyone knows it, and weird pie-in-the-sky stuff like land value tax are distractions that ought to be ignored.
Yes it can. Bar corporations from owning residential real estate. Taxing land value will just cause an exodus into hellhole suburbs.
At the end, the core of American dream is that your success is a function of how hard you try, so if you see yourself failing your are just slacking (not that I agree its healthy for individuals nor for a society I would like to live in, but that's another topic).
Btw FWIH Japan is mostly screwed up due to long term demographic curve, something knocking on the doors of ie Europe too, with their borderline racist approach to foreigners, even very similar Koreans. If you work 5am-10pm and have to excuse yourself to your boss for each leaving only after 12 hours of rather ineffective bureaucratic work, very few want to add raising kids on top of that.
Of course, as what we've seen during the past year in the US, this is going to create high inflation.
The other method, which I much prefer, would be to lower the cost of living, while only modestly limiting immigration and working hours (still need to be reduced compared to current levels). By far the easiest way to do so would be popping the housing bubble, Japan-style, by building tons of extra housing and bankrupting private equity groups gobbling up houses, which would release further housing on the market. Perhaps a government agency can buy up some properties to rent out at a breakeven price.