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Not just taxes, I want wealth caps
Nobody should have a networth over 1 million
Net worth of over a million? That's way too low, sorry. If you buy even one house and pay it off, you are practically in that territory now.
I'd be fine with a cap of one billion, adjusted for inflation every year.
I'd go with half a billion, just to be sure nobody gets near a billion.
I said million, not billion
Nobody NEEDS a million (less even a billion). Normal houses don't cost anywhere remotely need a million to build these days. Everyone can live a great life without ever being worth more than a million dollars
Either way, the million dollar is just an arbitrary point, it depends on where you live, etc, and more likely it should be a limit pushed by the average income, but I think it's a good number to start with, a good number to promote
Inflation is calling. They wanted to let you know that a very very modest homeowner in an unfashionable part of town in many cities around the world, is over 1 million. The people squeeking by aren't the problem. Aim higher.
No
I've kept inflation out to keep things simple. Yeah, the exact number will be different and depending on many factors, but the basic idea and the basic number are there.
For housing, I'd add one extra rule where for profit companies are not allowed to own houses for renting purposes.
If nobody can own more than a million, a couple with kids could own up to two million. Since people can't afford to own multiple houses, and companies won't be able to either, housing prices can go down to "what it cost to build plus a little extra" instead of "whatever some billionaire company can afford just to push the prices up"
I think the number is way off, but I share your desire to definancialize homeownership through regulation. The only for profit home ownership outside of a single personal residence should be purpose built rental appartment buildings, not buying up condos.
If you inherited your house from your parents, you could be penniless and have a net worth over $1 million.
$1 million is an arbitrary number and is not what it used to be, even 5 years ago. Even if you count everyone with $5 million net worth on one side and everyone over that on the other, the over $5 million side still owns most of the global economy.
The guy doing well in the next neighborhood over has essentially nothing to do with the wealth gap and resulting economic stagflation. The people with "too much" money have so much of it that it evades human comprehension.
You need to travel more and see the world. I mean this with no offense intended, but you comment smacks of naivety. Context matters.
"A more modest place". I bought one of the smallest, shittiest oldest places in the unfashionable sectors of my city and it hit a mil 15 years ago. There is nothing shittier. To get cheaper I have to leave the city altogether where my profession doesn't exist. Your war is not against "homeowners". We should aspire to raise everyone up and out of precarity, not shoot everyone who is not poor.
Reading comprehension is a skill. Skills, like muscles, get stronger with excercise. Don't stop, you'll get there eventually. I believe in you.
May I ask what turn of events lead you on your mighty quest against homeownership?
Who is playing me? (Other than you with this ridiculous conversation.)
Ok, so your math and reasoning needs as much work as your reading comprehension. I can recommend a tutor if you like.
Buy and rent two $300k houses for an income of $100k a year? Where can you buy $300k houses that rent for $4166.66 a month after expenses?
More importantly, why was a homeowner with a modest urban home valued around $1mil an evil bougie, but an egregiously extortionate landlord with 3 homes valued at $1mil virtuous?
I thought about blocking you, but now I'm too curious to see where this trainwreck of yours is going.
I'm priceless. ;)
You don't get invited to parties very often do you? This is why.