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View Diary: Exposing the Fiction of Low Tax States (37 comments)

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  •  I agree (0+ / 0-)

    Since you live out of state, I'll assume you pay only California income taxes (well, since Prop 13, so do CA residents).  I'll bet that discourages you from working in CA - everything else being equal.  This is exactly my point.
    If CA had a Land Value Tax, first of all the price of land would have to drop, since overall capitalization wouldn't change (at least not until people started making more money overall).  But you would be UNTAXED on your income under a Single Tax, and therefore incentivized to work.  You would pay the same amount for property, it would just take a different form - i.e. more annual tax on land and less mortgage for purchasing land.

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