Quote:
Originally Posted by you&me
Property tax is meant to support services that directly benefit the property.
Taxing an asset like equity in a company is not the same at all.
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It becomes more abstract, but why can a tax on an equity not be said to support the services that make operation of that company possible (ie. maintaining a civil society)?
Besides, property taxes as they currently exist rather poorly reflect what services are needed to support any particular property - a 1500sqft starter home on the edge of the city will pay a tiny fraction in property taxes of a 1500sqft penthouse apartment downtown, but the former requires a lot more supporting services than the latter. Property taxes certainly seem to be a very specific form of wealth tax, to me.