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Explain Like I am a child ... taxes. I get you pay taxes on goods you buy everyday. And you get said goods by paying a one time fee. But how come on a home after being paid off I still pay taxes...... (lemmy.world)
submitted 4 months ago* by to c/explainlikeimfive@lemmy.world
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I mean I paid for it like I would anything else I wanted. They charge a tax at checkout. So if I buy a house and pay the whole thing off, why do I still have to pay taxes on said house when I paid the whole agreed on price in full? It would be like me buying a six pack of beer I pay for it and tax at checkout. But then timely I have to keep paying taxes on the beer even though paid in full?

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[–] 2 points 4 months ago

Toy model economics wise, you'll note that consumption tax means less consumption means fewer jobs means less consumption means even higher consumption tax, until you've got no city.

Tax on capital isn't great, in that people choose other capital or avoid keeping + improving it. But tax on land is the 'least bad tax', see georgism (by the guy who invented monopoly!).

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