My property based wealth is in large part a result of fiat debasement. My gains in property are greater than the sum total of taxed income.
New Zealand has not ever had a comprehensive capital gains tax on property but I have paid local government taxes on my properties...these fund roads and local infrastructure which ultimately support and enhance the value of all related properties.
You cannot have a thriving capitalist economy without secure property rights and taxation of property is the price us Boomers pay and have paid for decades on our property portfolios.
It is increasingly apparent that the decline of western civilisation makes likely a decline in property prices within its boundaries but it is probably pointless to start blaming naive Libertarians who decry taxation and government for undermining western hegemony, wealth and dominance.
Boomers have played just as much a part in that process- probably more so.
My property based wealth is in large part a result of fiat debasement.
My gains in property are greater than the sum total of taxed income.
New Zealand has not ever had a comprehensive capital gains tax on property but I have paid local government taxes on my properties...these fund roads and local infrastructure which ultimately support and enhance the value of all related properties.
You cannot have a thriving capitalist economy without secure property rights and taxation of property is the price us Boomers pay and have paid for decades on our property portfolios.
It is increasingly apparent that the decline of western civilisation makes likely a decline in property prices within its boundaries but it is probably pointless to start blaming naive Libertarians who decry taxation and government for undermining western hegemony, wealth and dominance.
Boomers have played just as much a part in that process- probably more so.