this post was submitted on 28 Aug 2024
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Well, okay but selling a single family home these days goes for over a million commonly in the cities, even if it’s your only family home and for example you are moving into smaller home or selling for money for health care or to move into retirement home etc
A home you could have bought between 30-50 k 30 or 40 years ago could easily be worth over 1 million now
But doesn't that have a lot to do with the fact that millionaires and billionaires are buying property and jacking up prices? If the cap is 1 million and someone sells their house for 1 million, if they make any more money that year, it goes to taxes. That would give incentive to people to actually live life instead of being completely focused on the rat race. I don't think 1 million is a good cap, certainly not with the value of the dollar being what it is. However, I do think setting a cap and having it automatically lower a little bit every few years is a good idea. That would need to also be accompanied with a limit on liquid assets to be gradually taken down as well, if anyone is hoarding money, they would be forced to either give it away or donate to charity if they didn't want all of it going into public programs. There shouldn't be limit on what someone can buy/own.
I disagree with giving go charity to get out of paying for public services. Tons of shit charities out there.
But they're shit because the people who work for them take all the money. With the cap greed is a much smaller factor and would likely lead to those charities to either get their shit together or shut down
Edit: and you're right in an ideal government charities wouldn't even be necessary because taxes are handling everything a charity would but it will never be perfect and I think giving people the option of where their earned money goes would be a lot less aggravating than being forced to give it to the US government