Comment Property taxes are highly regressive (Score 1) 104
e.g. they disproportionately harm the working poor. I know, it's counter intuitive because when we think poor we think no property. That's why I said the _working_ poor. In America if you're just scraping by virtually all of your wealth is tied up in property, specifically your primary domicile (aka your house). About 20-30% of your income goes to this one investment. It's generally not worth very much, and at times it even loses value. But it's the only investment you can afford.
We fund services with property taxes because a) The rich get out of paying them because most of their wealth is tied up with the stock market and other forms of property with much lower taxes (or many, many more loopholes) and b) for the few taxes the rich pay it's easy for them to keep that money in their neighborhoods and ensure that it's not spent on the lower castes. This is why we fund our schools with property taxes while more decent folks (the Netherlands IIRC) mandate equal funding for all schools...
We fund services with property taxes because a) The rich get out of paying them because most of their wealth is tied up with the stock market and other forms of property with much lower taxes (or many, many more loopholes) and b) for the few taxes the rich pay it's easy for them to keep that money in their neighborhoods and ensure that it's not spent on the lower castes. This is why we fund our schools with property taxes while more decent folks (the Netherlands IIRC) mandate equal funding for all schools...