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California is chasing wealth that has feet

293 points · 870 comments · idbnstra

  1. MrZander · · focus · HN ↗
    I agree the proposed wealth tax is a bad idea, but raising property taxes is probably not viable. They are incredibly unfavorable to voters. No one who owns a home wants to pay rent, that's why you buy in the first place.

    Personally, this is why I am fine with higher income or sales taxes.

    1. edoceo · · focus · HN ↗
      Sales Taxes are the worst ones. Burden on seller, burden on buyer, regressive. Income is more fair but easy to mask-out for the wealthy. Property is meh, Wealth tax is the best one. Assuming all were well designed.
      1. fhn · · focus · HN ↗
        why is it a burden when they are already collecting sales tax? They just change one number but nothing else changes.
        1. charlieyu1 · · focus · HN ↗
          If you kill demand, you kill economy.

          And I’m very surprised nobody mentioned cooperative tax in this post. Taxing cooperative profits is the simplest and fairest solution.

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