I agree. Or rather, I think a sales tax actually hits the less wealthy more in absolute terms than the wealthy as most of the big things they’re buying aren’t bought within the city.
Property tax on the other hand, scales very closely with how wealthy you are. I know some people will complain (or rather a lot of people) that property tax is already expensive and an increase of even 0.5% would make it almost impossible to pay all their bills including their mortgage, but to that I say that if your finances are that tight, either you’re already spending above your means, or you’re pretty bad at managing your money.
I agree. Or rather, I think a sales tax actually hits the less wealthy more in absolute terms than the wealthy as most of the big things they’re buying aren’t bought within the city.
Property tax on the other hand, scales very closely with how wealthy you are. I know some people will complain (or rather a lot of people) that property tax is already expensive and an increase of even 0.5% would make it almost impossible to pay all their bills including their mortgage, but to that I say that if your finances are that tight, either you’re already spending above your means, or you’re pretty bad at managing your money.