in non-13 states, gentrification means that existing homeowners get pushed out.pic.twitter.com/dPYCT6Fza6
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in non-13 states, gentrification means that existing homeowners get pushed out.pic.twitter.com/dPYCT6Fza6
so defer it until sale.
3) sales taxes & then on very volatile income and capital gains taxes, while drastically underfunding K-12, higher education, infrastructure
wait until sale as a deferred equity gains tax.
but other people sell every year. Also the expected gains & tax protections are priced into current asset values.
if you take away the expectation of 10X returns, asset values will change accordingly.
I said you can defer until time of sale.
I was just focused on housing affordability. But if you want a broader answer, @bettyyee2014's report seemed to suggest
you could have a new service-oriented tax structure that would generate $111B a year. http://www.sco.ca.gov/Files-EO/Comprehensive_Tax_Reform_in_California_A_Contextual_Framework_06_16.pdf …
I expect it will take 10-30 years, but I will keep working on it!
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