Land value taxes and YIMBY
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Rent control benefits long-term residents but hinders newcomers' access to housing. Additionally, high income and sales taxes drive people away, constraining government revenue for public services.
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Real estate markets in developed regions face crises, with wealthy owners profiting from long-held properties, aided by tax policies like California's Proposition 13, which bases taxes on outdated property values. These owners often support zoning laws that limit new, denser housing, reinforcing wealth disparities.
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Traditional leftists' favorite countermeasure, rent control rules, only benefit people who stay in the same place for many years, at the expense of very long waits for new people who want to come in. Meanwhile, governments' ability to raise revenue to fund public services is limited by the fact that if income and sales taxes are pushed too high, people simply go somewhere else.
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