politics

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Do you want housing affordability to get worse? The main beneficiaries of this policy are very wealthy retirees at the expense of the local government and public services surrounding them.

Not only are entitled boomers making affordability worse with their NIMBY positions and lobbying against increasing housing supply, but now they're wanting to reap all the rewards from the scarcity while feeling no downsides in taxes. Actual vampire mindset.

Coinbase employee (Investigatooor), personal account. Onchain is the future.

The older I get the more my mindset on these changes.  While what you describe is true, rising property taxes on seniors living on fixed incomes is harsh.  Some of these people worked 40+ years, paid a mortgage for 30 years and finally feel like they own an asset that they can retire in.  

States like Maryland re-assess home values every 4 years and tax based on fair market value.  This is crushing. 

There are other ways: chief among them taxing investment properties or second and third homes more aggressively.

🥑🍋 Farmer / LAMP stack dev / Husband / 🌈 Dad / Web1 dude loving a web3 world / Collector of things digital & physical / 
CdeP ‘94 

To clarify: I’m not advocating for eliminating these taxes on retirees but I do think rate increases should be capped as is done in California.  We owe retirees a small degree of predictability in retirement.