zlacker

Property taxes exist because we want to tax externalities like land use. Taxing fake wealth because you own a company and some VC assigns it a valuation is insane.

Why should you dilute your ownership share just because of some arbitrary number?

>>VirusN+(OP)
I'd argue that property taxes exist because we still live in a system resembling the feudal system we evolved from, and governments believe it is their right to tax our property to pay for their projects.

>>_heimd+K6
Who--other than "governments"--decided that its "your" property and that you somehow deserve monopoly rights to a piece of the planet that you didn't create?

>>VirusN+(OP)
> Taxing fake wealth because you own a company > [...] > Why should you dilute your ownership share

So... is owning piece of a productive company "fake wealth"? Is it fake when you can leverage that valuation to have access to more credit and use that to buy real stuff (like property...)?