I will be calling my stockbroker to get the funds needed to pay the property tax on my house next month.
There’s still a few areas, apparently including the temperate parts of Alaska, which have no property taxes. Should UBI or reparations or wealth-tax be enacted, I’ll move there and live a humble (but comfortable) existence on a practically untaxable income level (I have most of what I need, and can turn that into a mostly self-sustaining lifestyle).
That was the reason for Prop 13 in California which capped the annual growth of property tax at 2%, because property taxes were rising so high that people could no longer afford to live in their own homes.
Still, local property taxes are itemized to things like school maintenance, street and lighting repair, drainage, pest control, fire/police, etc., things that go directly to supporting the locality.
A federal wealth tax would go towards what, buying the votes of the poor?
-PJ