1) Land tax. Low property taxes that Californians voters passed in 1978 got capitalized into higher housing values.https://twitter.com/AaronPeskin/status/760238274384236544 …
you never tax phantom gains. Tech workers already taxed when they have to pay to acquire options.
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But if a $200k doubles, then drops back to $200k on sale, are we taxing for the years it was $400k? Is that fair?
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if it was sold at the same price it was bought, 200K, I don't see why it would be taxed at that level.
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