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Thread: Bringing back US industry - Why wouldn't this work?

  1. Top | #31
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    Quote Originally Posted by RVonse View Post
    Quote Originally Posted by steve_bank View Post


    Within sight of where I live in Seattle is a new 20 story condo building under construction. It has caused some response because the condos running from $850k to $1.2m have been bought out mostly by Chinese investors. Who knows where the prices will end up before somebody actually moves in.
    Easily solved by the correct tax structure. Live and work in Seattle, your property taxes are low. Dont live/work there and your property taxes are very high. Problem solved.

    (I should be a government official of Seattle)
    People around the new Seattle waterfront park to be built are being taxed heavily to pay for because it will raise property values. People elsewhere in the city are not taxed. Seattle financially is out of control.

    I'd have to work up a number but over the last 10 years the amount of money spent per homeless person is very high while the problem worsens.

    As some are beginning to realize it would have been cheaper to just build housing, which is starting to happen.

    To get elected in Seattle you need to be on the progressive side. Pragmatists need not apply.

  2. Top | #32
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    Quote Originally Posted by RVonse View Post
    Quote Originally Posted by steve_bank View Post


    Within sight of where I live in Seattle is a new 20 story condo building under construction. It has caused some response because the condos running from $850k to $1.2m have been bought out mostly by Chinese investors. Who knows where the prices will end up before somebody actually moves in.
    Easily solved by the correct tax structure. Live and work in Seattle, your property taxes are low. Dont live/work there and your property taxes are very high. Problem solved.

    (I should be a government official of Seattle)
    You just substantially raised rents for people living in Seattle.

  3. Top | #33
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    Quote Originally Posted by Loren Pechtel View Post
    Quote Originally Posted by RVonse View Post
    Quote Originally Posted by steve_bank View Post


    Within sight of where I live in Seattle is a new 20 story condo building under construction. It has caused some response because the condos running from $850k to $1.2m have been bought out mostly by Chinese investors. Who knows where the prices will end up before somebody actually moves in.
    Easily solved by the correct tax structure. Live and work in Seattle, your property taxes are low. Dont live/work there and your property taxes are very high. Problem solved.

    (I should be a government official of Seattle)
    You just substantially raised rents for people living in Seattle.
    You aren't looking at the long view. The Chinese investors will have to pull out en-mass causing prices to plummet to levels even the locals can afford. Only the local landlords (those still living in Seattle) will be left standing. And those guys won't be affecting the price levels so heavily.

  4. Top | #34
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    Here in our city, if you want to keep a residence unoccupied, you have to buy a permit. I wonder if such a system would work in your case. Make the permit fees progressive and quite excessive based on the property value. Make them so steep on the million dollar plus investment properties to either deter the investment or make them actually rent them at rates people can afford.
    When conservatives realize they cannot win democratically, they will not abandon conservatism. They will abandon democracy.

  5. Top | #35
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    Quote Originally Posted by RVonse View Post
    Quote Originally Posted by steve_bank View Post


    Within sight of where I live in Seattle is a new 20 story condo building under construction. It has caused some response because the condos running from $850k to $1.2m have been bought out mostly by Chinese investors. Who knows where the prices will end up before somebody actually moves in.
    Easily solved by the correct tax structure. Live and work in Seattle, your property taxes are low. Dont live/work there and your property taxes are very high. Problem solved.
    How did you just solve anything, you just tanked tax income. Do roads no longer need to be paved if people who work in Seattle, live in Seattle?

  6. Top | #36
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    Quote Originally Posted by Jimmy Higgins View Post
    Quote Originally Posted by RVonse View Post
    Quote Originally Posted by steve_bank View Post


    Within sight of where I live in Seattle is a new 20 story condo building under construction. It has caused some response because the condos running from $850k to $1.2m have been bought out mostly by Chinese investors. Who knows where the prices will end up before somebody actually moves in.
    Easily solved by the correct tax structure. Live and work in Seattle, your property taxes are low. Dont live/work there and your property taxes are very high. Problem solved.
    How did you just solve anything, you just tanked tax income. Do roads no longer need to be paved if people who work in Seattle, live in Seattle?
    Washington still has taxes! They have a pretty high sales tax, offset by small property taxes. Their business taxes are also far less than what is found in Oregon. Oregon has instituted at tax on gross revenue (gross, not on net). Totally unfair. Moved my company to Washington. Washington taxes are friendlier to business. Plus very nice to locate closer to ski resorts!

  7. Top | #37
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    Quote Originally Posted by Harry Bosch View Post
    Quote Originally Posted by Jimmy Higgins View Post
    How did you just solve anything, you just tanked tax income. Do roads no longer need to be paved if people who work in Seattle, live in Seattle?
    Washington still has taxes!
    I don't know if RVonse is speaking directly to Washington/Seattle's taxing setup. I thought he was speaking more in general. And yes, a state still has taxes, but if you reduce taxation somewhere local, that will affect services without retaining that tax from somewhere else.

    Akron, Ohio is a city that is trying to readjust to being a smaller city these days, and needs every dime it can scrape up because Columbus keeps cutting taxes (aka revenue for cities) and keeps giving the cities (aka the state revenue generators) less and less. Our state taxes keep going down, but my local taxes (property and income) have been going up.

  8. Top | #38
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    Quote Originally Posted by Jimmy Higgins View Post
    Quote Originally Posted by RVonse View Post
    Quote Originally Posted by steve_bank View Post


    Within sight of where I live in Seattle is a new 20 story condo building under construction. It has caused some response because the condos running from $850k to $1.2m have been bought out mostly by Chinese investors. Who knows where the prices will end up before somebody actually moves in.
    Easily solved by the correct tax structure. Live and work in Seattle, your property taxes are low. Dont live/work there and your property taxes are very high. Problem solved.
    How did you just solve anything, you just tanked tax income. Do roads no longer need to be paved if people who work in Seattle, live in Seattle?
    The Chinese investors are not needed to pave roads. Every other municipality manages roads without the help of sky high valuations caused by Chinese investors bidding up property they really don't need. Seattle would get by just fine with local tax revenue.

  9. Top | #39
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    Quote Originally Posted by RVonse View Post
    Quote Originally Posted by Loren Pechtel View Post

    You just substantially raised rents for people living in Seattle.
    You aren't looking at the long view. The Chinese investors will have to pull out en-mass causing prices to plummet to levels even the locals can afford. Only the local landlords (those still living in Seattle) will be left standing. And those guys won't be affecting the price levels so heavily.
    Drive prices down like that and nobody will build more. It's the same thing we always see with rent control no matter how you try to dress it up.

  10. Top | #40
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    Rent control failed in NYC. Rent went up for improvements and when people moved out. People just handed it over to kids maintain possession.

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