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HotTopicRebel t1_it9x4jo wrote

Reply to comment by bdubthe1nonly in Many countries have a "hidden welfare state" for incumbent homeowners, as governments subsidize homeowners through the tax system. The homeownership welfare state is strongest in the US and other Anglophone countries, but weakest in the Scandinavian countries. by smurfyjenkins

>Everybody works but the vacant lot. I paid $3600. for this lot and will hold it ‘till I get $6000. The profit is unearned increment made possible by the presence of this community and the enterprise of its people. I take the profit without earning it. For the remedy read ”HENRY GEORGE”

>Yours truly

>Fay Lewis

It's because we've created such a warped set of incentives that a home--what should be a depreciating asset--is being seen more and more as not just a place to put money, but an investment (and a pretty good one at that). Of course, it's not the house that is bringing in the big bucks, it's the appreciation of the land.

We should be implementing a tax on the land itself (not including the structures built on it). To encourage productive use of it. Whether it's more housing or industry. You should not be able to hold onto land indefinitely waiting for the price to go up.

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