An unfair advantage
Letters to the Editor
The seemingly inevitable slide towards the haves and the have-nots in home ownership is inevitable if nothing changes.
Our approach to funding the needs of the state encourages and disproportionately rewards speculative (non-productive) activity and discourages (taxes) effort and investment in productive capital (value adding).
When unearned income from land rent and land value increases is mildly taxed, is it any wonder it is so popular to ”invest” in land? Tax breaks afforded to speculative gain advantage investors (allowing them to pay more for the same property) over aspirant home buyers, who then also pay full tax on wages. Leaners and lifters?
James Webster, Parkdale