Quote:
Originally Posted by GGG
Supply of parking is regulated, it is limited by the city which drives the price up. Therefore price is a function of demand only and increasing taxation comes out of profits for from the owner of the lot rather than being able to be passed on to the consumer. The lot owners are only making that profit because of the market distortion caused by the supply being regulated.
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Ok, but if you institute say a 15% tax on all parking... all parking will go up 15%. I'm not sure why a parking lot would just eat that cost.