Does this guy at the so-called "Adam Smith" institute understand that Adam Smith warned about the dangers of unearned land wealth http://www.econlib.org/library/Smith/smWN5.html#B.I … while those who invoked his spirit in the 70s passed Prop. 13, letting private land owners absorb disproportionate land rents?https://twitter.com/Sam_Dumitriu/status/945708446107750400 …
They are a tax upon new development, but at the end of the day, market-rate developers can't built housing accessible to minimum wage workers in coastal California & we have a greater % of those workers than high-income workers.
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the market will build housing accessible to minimum wage workers in.... central California or a 2-3 hour commute away. One could maybe relax zoning regulations enough to build housing accessible to the middle-class regionally but not lower-income folks.
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