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 …
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Replying to @AntBreach @kimmaicutler
We work with what we're given. But, I'm not a fan of affordable housing requirements. It seems to me they're essentially equivalent to a tax upon new development.
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Spending, where possible, should be funded through low-broad based taxes. It doesn't seem to me clear why you would impose a large tax on new development to fund it.
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Replying to @Sam_Dumitriu @AntBreach
it's popular because existing homevoters, while claiming they want affordable housing, don't want to actually tax themselves to pay for it. They'd rather tax young or new people, who are less organized.
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Replying to @kimmaicutler @AntBreach
I often see objections to new developments on the grounds that there is insufficient affordable housing. Seems to be a stick for NIMBY's to use more often than not.
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Haha, I tried to respond to one NIMBY group on this. I said, OK, you want 100% affordable housing? How about everyone commits to selling their home to no more than they purchased it for in order to maintain affordability for future generations?
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