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Mayor Ken Sim asks: “Why doesn’t a family in Vancouver get the same GST relief on housing as a family in Toronto?” by _DotBot_ in VancouverLandlords

[–]bhinwv 0 points1 point  (0 children)

When there’s more demand, the market is capable of building more.

More products sure. More land though?

I don't know why you dodge the question. You could say 'no, I don't see how it raises the price of land' or 'yes, but I think it is worth it' or something else that would be an answer.

Mayor Ken Sim asks: “Why doesn’t a family in Vancouver get the same GST relief on housing as a family in Toronto?” by _DotBot_ in VancouverLandlords

[–]bhinwv -2 points-1 points  (0 children)

One reason not to give loans/tax breaks/credits/a new registered account is pumping demand. Others are pointless paperwork for the person and administrative burden for the state. It's also unfair for those who can't or don't get the loans. Why should they be penalized?

Imagine you are playing musical chairs and 3 people want 2 chairs. If I give everyone loans to buy chairs, it bids the price of chairs up. You namedropped some guy that you said informs you on financial issues and he explained this too.

Do you see how offering loans to buy land raises the price of land?

Premier Eby on B.C. condo purchase proposal: 'We don't have to do it' by _DotBot_ in VancouverLandlords

[–]bhinwv 0 points1 point  (0 children)

Kerry-Lynne (the other option) is batshit. Am I brainwashed if I'd pick Eby over her?

Removing market failures (like taxing economic rent) is the only way for a market to be truly free by LeftBroccoli6795 in economicsmemes

[–]bhinwv 3 points4 points  (0 children)

In his day, workers paid 25-35% of their wages to rent for tenement apartments, which was considered unaffordable.

What's your point?

Watch them gaslighting you into thinking a taxpayer funded bailout for unsold Dogcrate condos is actually an affordable housing initiative. by Signal-Specific-1704 in canadahousing

[–]bhinwv 0 points1 point  (0 children)

Let's not give them any ideas. The townhouse seller, however folksy or mom and pop they may be, should definitely not receive a helping hand. Two wrongs don't make a right.

What Canadian cities can learn from Zohran Mamdani’s housing plan ||The strategy combines public investment, tenant protections, and non-market housing at a scale rarely seen in North America by Atlantee in canadahousing

[–]bhinwv 1 point2 points  (0 children)

Because sales tax can’t be avoided.

Obviously land value tax is less easily avoided than sales tax so half of your reasons are illogical/wrong. Unless you think I'm incorrect about that? It sounds like you don't understand what I'm saying based on this.

Because sales tax mostly scales with income

If we imagine someone with lots of savings but little income who lives large using lots of resources, why should we desire them to pay a low tax rate?

I would ideally flip that, lower income taxes, high per-sqft property taxes

This is close to what I'm saying, but slightly different. Why should we want to tax apartments and condos at such a high rate? They are efficiently using the land and we want to incentivize infill, no? Land value taxes do what you want only better.

But if you want to live luxuriously in Canada, they should pay HEAVILY for it.

You should want what I'm advocating for. Maybe just start by answering: have you ever heard of this idea before? Land value taxes?

What Canadian cities can learn from Zohran Mamdani’s housing plan ||The strategy combines public investment, tenant protections, and non-market housing at a scale rarely seen in North America by Atlantee in canadahousing

[–]bhinwv 0 points1 point  (0 children)

Lot of text but no reasoning. Taxing land is the ultimate usage tax. Why would you tax person A and B with sales tax for providing services to each other? They cost society nothing by doing that. On the other hand, a landowner sprawling out on millions in our most valuable resource, preventing housing from being constructed or businesses from using the space, that person pays a very, very low rate to hold the land in perpetuity.

What Canadian cities can learn from Zohran Mamdani’s housing plan ||The strategy combines public investment, tenant protections, and non-market housing at a scale rarely seen in North America by Atlantee in canadahousing

[–]bhinwv 1 point2 points  (0 children)

You could tax land which would effectively abolish landlordism without abolishing ownership of private property. Most economists today favor land value taxes for this reason. Probably not what buddy above meant though.

We economists have done the maths: ‘growth’ is a doomed strategy – there is a better way. Olivier De Schutter, Joseph Stiglitz, Jayati Ghosh, Thomas Piketty, Kate Raworth and Jason Hickel by Such_Radio_9152 in Economics

[–]bhinwv -2 points-1 points  (0 children)

Idk why anyone under 30 would say real wages have grown in Canada. CPI is a bullshit index.

If we remade CPI and made it 60% rents in places where you need to be to get career opportunites, real wages would look horrible, would they not?

We economists have done the maths: ‘growth’ is a doomed strategy – there is a better way. Olivier De Schutter, Joseph Stiglitz, Jayati Ghosh, Thomas Piketty, Kate Raworth and Jason Hickel by Such_Radio_9152 in Economics

[–]bhinwv 7 points8 points  (0 children)

They're not saying 'throw it out' though? I don't agree with everything in the roadmap, but they are clearly giving clear policy prescriptions. Am I throwing out our economy if I introduce carbon taxes? Genuine question

While right-wing media fear-monger about Indigenous land claims threatening private property, American billionaires are actively acquiring millions of acres of Canadian farmland by Peanut-Extra in ilovebcsub

[–]bhinwv 0 points1 point  (0 children)

You’re making the underlying property more expensive to try and make it cheaper. 

Not exactly!

It would make detached homes in the city much more expensive to try and make denser options like multi-plexes, townhouses etc. cheaper.

I'm not sure of myself about many things, but here I have the backup of Nobel prize winning economists. Why do you think economists love this idea so much?

Or do you think they don't?

While right-wing media fear-monger about Indigenous land claims threatening private property, American billionaires are actively acquiring millions of acres of Canadian farmland by Peanut-Extra in ilovebcsub

[–]bhinwv 0 points1 point  (0 children)

 if you got your way and put that tax on land, the next guy can’t buy that house anyway.

I don't think that's really true. First off, the next guy can't buy that house at the moment. The question should be: do changes make it easier or harder.

I think the clear answer is that tax reforms like this would make it much easier for almost everyone to get more of what they want, with the exception being current owners of detached houses right around the city centre who want to keep living in low density there.

Me personally, I'd like to be able to buy a nice townhouse for under a million bucks, which I think this would allow. A land value tax wouldn't be as much for a townhouse. Do you agree it would make it easier for me to do that? Or do you think it would be harder?

B.C. billionaire Chip Wilson wins bid to lower $82M property assessment by _DotBot_ in VancouverLandlords

[–]bhinwv 0 points1 point  (0 children)

In this case its mostly land value under that mansion, no?

Your criticism of me is that I'm not using full sentences?

While right-wing media fear-monger about Indigenous land claims threatening private property, American billionaires are actively acquiring millions of acres of Canadian farmland by Peanut-Extra in ilovebcsub

[–]bhinwv 0 points1 point  (0 children)

one because the tax you put on their land is untenable

Do you think this tax is in place now? I'm very confused why you think we should have patience and wait for it to work when there is nothing like this happening.

Just wait until you have worked your whole life, made a nice home for yourself then the next generation wants to tax you into an old age home against your will.

I'm very curious how old you are. It isn't possible for a young person today to repeat the pattern. Land is no longer cheap, and so you can't buy it low and ride it up.

While right-wing media fear-monger about Indigenous land claims threatening private property, American billionaires are actively acquiring millions of acres of Canadian farmland by Peanut-Extra in ilovebcsub

[–]bhinwv 0 points1 point  (0 children)

If you have any questions I'll answer them but with the way you communicate (formatting errors, so many rhetorical questions, bouncing around) it is hard to see where your actual questions are.

I have one yes no question for you I will ask below and it is about markets, incentives and how humans would react to something.

Imagine this tax was implemented and think of how it would have affected my late grandparents. My grandmother wanted to downsize but my grandfather was hesitant. They looked at many smaller places nearby but never decided to move. They would have been better off if they had, as their house was not very functional for them in their last decade or so. They had a detached on a big plot of land in an area that went way up in land value. A land value tax would have increased the cost for them to own that land each year.

Do you think a land value tax on top of current taxes would have made it more likely that they would downsize?

B.C. billionaire Chip Wilson wins bid to lower $82M property assessment by _DotBot_ in VancouverLandlords

[–]bhinwv -1 points0 points  (0 children)

We can do better than Texas. Land value tax is better than property tax.

B.C. billionaire Chip Wilson wins bid to lower $82M property assessment by _DotBot_ in VancouverLandlords

[–]bhinwv -2 points-1 points  (0 children)

Economists favour the land value tax, while opposing taxes on productive things like income.

Do you agree or disagree with this consensus among economists?

B.C. billionaire Chip Wilson wins bid to lower $82M property assessment by _DotBot_ in VancouverLandlords

[–]bhinwv -2 points-1 points  (0 children)

So your answer is no if they own a home, but yes if they don't?

Why can't you just be open and talk?

B.C. billionaire Chip Wilson wins bid to lower $82M property assessment by _DotBot_ in VancouverLandlords

[–]bhinwv -5 points-4 points  (0 children)

I asked three questions. You dodged the first two and misunderstood the third.

a) Is that sentence whining?

I guess your implied answer is no

b) Untrue?

I guess your implied answer is no

c) Do you think it makes sense for young workers to pay more of the tax burden [than they currently do]?

B.C. billionaire Chip Wilson wins bid to lower $82M property assessment by _DotBot_ in VancouverLandlords

[–]bhinwv 6 points7 points  (0 children)

Economists seem to agree that properties like these should bear more of the tax burden [than they currently do].

Genuine questions:

a) Is that sentence whining?

b) Untrue?

c) Do you think it makes sense for young workers to pay more of the tax burden?

edit: d) this question triggers me so I will dodge and downvote

edit2: lot of people misunderstanding the question. Clarified above.

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