• MisterD@lemmy.ca
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    1 year ago

    If only we had a government that could stop the rich and corporations from buying houses posted at under 1M (and index it to minimum wage or something)

    • psvrh@lemmy.ca
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      1 year ago

      The way to do that is to tax them.

      Price controls don’t work–there’s a long and ugly list of examples of why–but increasing marginal taxation certain does work. We just stopped doing it because…mumble…mumble…supply-side…mumble…trickle-down…mumble…job creators…mumble.

      • TemporaryBoyfriend@lemmy.ca
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        1 year ago

        You simply tax the things that harm society until those things go away.

        Corporations owning residential homes should get taxed an extra 1% on the total value of the home every year, increasing at 2x the rate of inflation every January 1st. Do that for 5 years, then apply the tax to individuals who own more than one home, same deal - 1% + 2x the rate of inflation.

        Combined with actual rent controls, this solves the problem, and it won’t shock the system and cause a housing crash, because various homes are at different stages of profitability.

        I’m just some idiot on the internet. Why can’t some idiot in government come up with a similar plan?

    • doylio@lemmy.ca
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      1 year ago

      The history of price controls suggests this will not give the outcome one would expect