RE: How can the government better support economic growth and job creation in your opinion?

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How can the government better support economic growth and job creation in your opinion?

in economics •  11 months ago 

Reduce taxes and regulations, and the economy will explode. Every person will be able to buy a decent house.

This has worked before we ended up with way to much government interference.

If the government ever controls real estate, No One will be able to afford to buy housing ever again.

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11 months ago by

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      ·  11 months ago (edited)
    Reduce taxes and regulations, and the economy will explode. Every person will be able to buy a decent house.
    Not true. Median household income growth has not kept pace with property value appreciation and rent hikes for the past two decades. For bottom and 2nd quintile incomes its been even longer. Higher growth rates is the very thing that encourages real estate speculation and leaves lower income earners unable to afford housing because the main component, land, is by its very nature a scarce resource both naturally and politically. Aside from volcanic activity there is no land factory anywhere producing more land to meet higher demand for it in dense urban areas and politically there is an inelastic supply of it zoned for residential, industrial, commercial or agriculture uses which means higher demand for it due to a booming economy will only push up the price level of it and other than a recession there is only one other way to reduce that price level and that's to make it less profitable by taxing the location value otherwise capitalized in that price.
    If the government ever controls real estate, No One will be able to afford to buy housing ever again.

    Uh government already controls real estate through permits, zoning, building codes, property taxes, and eminent domain and the result is fewer people can afford home ownership. The reforms I mentioned would lead to LESS bureaucracy, LESS government control and MORE options for consumers with LOWER incomes. The only difference is that your local government would recover the full cost of infrastructure and public services, at point of sale or lease, instead of having this subsidized by Uncle Sam which it currently is because annual property taxes don't adequately cover the full maintenance costs of infrastructure and public services which is why municipalities have over $3 trillion in debt and the U.S. has close to $5 trillion in infrastructure outlays. So the system you want to preserve not only has overbearing government control and redundant bureaucracy it also creates more government debt.

    BTW Singapore and Hong Kong's public leasehold system (over land) is the very reason they can have lower taxes and less regulations on businesses compared to the rest of the developed world. Singapore can have no capital gains tax on and a much lower income tax that maxes out at 22% (compared to 37% in the US) because they collect a large portion of their revenue from land rent instead. Hong Kong also has no capital gains tax and a measly 17% top marginal income tax rate as a result.

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        ·  11 months ago 

      The dollar problem has been caused by printing money that has no backing. Inflation is the cause of the deficits, and until money is backed again by gold, no measures will correct anything.

      I have found that any time the government is involved in anything, they screw it up totally! Ironically, the printing of empty bills has pushed us to the precipice of disaster.

      More regulation will just speed up the crash. I'm not sure if recovery is possible at this point, but it will be painful at best! The very last thing we need to do is to allow increased government control on anything, including land. They are too hungry for everything, if they get control of it, they will keep it...forever!

      They are like an alcoholic, in charge of the distillery. The founding Fathers knew that government is a parasite, which is why they limited the government using the Constitution!

      They are tasked with the common defense, and mitigating problems between the states. EVERY other function is actually illegal....

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        [-]
          ·  11 months ago (edited)
        The founding Fathers knew that government is a parasite, which is why they limited the government using the Constitution!
        The founding fathers are the ones that created land grants/warrants and doled them out as political favors among themselves and people that aided the war of independence, no different really from monarchs bestowing estates on nobles in the ancien regime minus the titles of nobility, extinguished aboriginal title over the same lands by assuming a religious doctrine that Pope Alexander VI declared three centuries earlier as case law that is still in effect btw, and seized them at bayonet point from the nations inhabiting them even when they had treaties with said nations. Was the Northwest ordinance too much government control over land? How about moving the nation's capitol to an undeveloped swampland between Virginia and Maryland that Washington personally profited from as a landowner of some of the tracts? How about the Louisiana purchase? The acquisition of Florida, Alaska, Hawaii? The treaty of Guadeloupe Hidalgo? The Homestead Act of 1862 or the Morrill Land Grant Act? How about the Transpacific Railroad that required not only land grants and eminent domain takings but also congressional financing? Its fine to pretend the government was small in the distant past which makes sense when its overseeing an agrarian economy of mainly subsistence farmers with nothing but frontier land beyond. However, there was no time in history, including U.S. history, where the government didn't control land and decide not only who was entitled to it but how it was going to be used (even before zoning was a thing). Sure 19th century congress didn't plan the economy like a soviet gosplan but deciding where railroads, highways and canals would be built did plan where future generations of business would occur and where it wouldn't. The thing you claim to fear is not only the present reality its also been reality for the entire history of the country. Realty titles are and have always been creatures of the state no different from patents, trademarks, or articles of incorporation and suggesting their value should remunerate the public that makes them valuable in the first place is not government overreach.

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            ·  11 months ago 

          Most of the signatures of the Constitution died Penny less, not owners of massive estates. They limited the government to control only the District of Columbia, and legally nothing else.

          The problem of turning over power to the government, is that once the bureaucrats wrap their fingers around that level of power; they will never let go! The type of personality that is drawn to federal power; is the worst type of individual to hand any control to! It allows the drug addicts access to the warehouse of drugs...to do inventory; without oversight!

          With every concession to the federal government, our chance of actually fixing this mess is significantly reduced! They need to be pushed back to Constitutional limitations, if this Republic is to survive.

          Using the threat of violence from the government, to steal land from the owners of that land; pushes us deeper into the quicksand we are currently sinking into. It also places all of us, renting from the same bloated federal government!

          Our best chance, is reducing government interference by at least 90%. This country suffers from massive overspending that has caused even more massive inflation.

          I bought my Wife a 10 point diamond ring 50 years ago for $17.80! I looked at that same ring yesterday, and it is now $450.00! Your inability to be able to buy a home, is a direct result of this unrestrained inflation. The government wants servants, reliant upon the government for minimal sustenance; so they can control your entire future. Those who are starving, don't rebel against their lord and masters!

          Prepare as fast as you can, to retain independence...they want it ALL! They also don't care who dies for them to increase this control!!!!

          Be safe!

          👍💙🙏📖🙏💗🤔🤠👌😊😳🤕🎯

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            [-]
              ·  11 months ago (edited)

            I have no clue what you're talking about. I never mentioned anything about the federal government taking over land. Your whole rant wasn't even remotely on point. Sure if we were a small island nation LVT might make sense at the national government but here it could be carried out by your county tax assessor at point of sale without any additional bureaucracy and in leiu of paying annual rent to the county on improvements you make to the parcel as all property tax schemes mainly charge a premium for development and reward speculation with lower tax rates. And if you favor sales tax realize that requires far more government bureaucracy and dead weight loss than what I've proposed.

            Also literally one of Washington's first acts as president was to forcefully confiscate the proceeds of whiskey sales from Pennsylvania farmers at bayonet point. And the first ten amendments that make up the bill of rights only applied to the district until after the civil war. Liberty only really existed on the frontier. The idea that late 18th early 19th America was free, aside from the frontier, is a confabulation.

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                ·  11 months ago 

              Sorry, I will distill. No other problem will continue to be important if the hidden tax of inflation is not brought under control. That's all I was trying to explain.

              https://www.history.com/topics/european-history/weimar-republic

              Historically, it has happened before. All other 'problems' right now are simply distractions to keep us from taking positive steps to rectify the situation.

              It is also the reason people can no longer afford basic things like housing and property. As inflation increases, food and heat will also become too expensive to afford. The more government 'helps' the faster the destruction.

              In the Weimar Republic, they used wheelbarrow for moving grocery money.

              You are spot on about the Whiskey Rebellion, it was a blight on this Republic! It may not matter soon....

              Move to the country, and grow your own food! If we don't stop this inflation, it's over; unless we are self sufficient!!!

              Stay safe.

              👍💙🙏📖🙏💗🤠🤔👌👍

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                [-]
                  ·  10 months ago 

                While inflation has been high across the board it has been a lot worse in real estate. You cannot explain the yearly double digit inflation rates in housing with normal devaluation of the dollar. Yes, the federal reserve giving cheap money to the banks for over a decade following the 2008 collapse made speculation much worse, arguably putting it into hyper drive but it was a problem long before that.

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                  1 vote
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                    ·  10 months ago 

                  Agreed, it is bad in real estate. Any true hard asset is seeing the same Changes. I believe they have manipulated real estate by the simple expedient of dumping the dollars they have into real estate, like other fixed assets. Their goal is to divest their dollars, ignoring the inflation feeding results of open ended purchasing; until that same dollar is worthless! Then, whatever is put in place to replace it (digital dollar) they will have significant value in those fixed assets.

                  So real estate is disgusting right now, but it's spilling over into most things. The price of used cars has doubled. I bought silver at $5 an ounce, and it's now in the $25 to $30 an ounce range. I paid $5800 for a used car ten years ago. When I looked it up, the same car, with twice the miles; is over $6000 today.

                  So you are absolutely correct, real estate prices are, and will continue to, climb as the dollar does! Those just starting out, will be disproportionately affected by this mess; and it Not their fault!!! The deliberate (they are Not that stupid) uncontrolled spending is making politicians and their donors, rich by this divestiture of the dollars they are destroying! They are buying tons of metals, and as many houses as they can....

                  I regularly get checks in the mail for real estate I own. For my house, they started at $100,000. Last week it was $145,000, with a twist; I don't have to move...I can keep living in Their house! Total desperation, and unlimited greed!!!!

                  I'm planning to move, because the other side of this coin is that my property taxes continue to climb; and when this crashes, I need to be in the country!

                  So get ready, you have identified the problem. We just need to pick out our best route through what must come! Just remember that the government policies have deliberately caused this, and they don't care if you survive or not! They have stated they want a 95% reduction in population....

                  Be safe my friend, they don't like people that think; so be careful!

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