I'd like to see both an automatically adjusting dynamic tax on owning more than one property in the same municipal or arbitrarily useful region, as well as dynamically banning the ownership of more than one. Everytime I mention this, I get "blah blah we have a democracy blah blah freedom" etc.. but it's no such a democracy if one particular age-range dor demographic of people owns all the assets and politically protects them from diminishing in value or facing competition. Pending presumably complex implementation details, but a healthy system that prevents generational fiefdoms would probably adjust to severely disincentivise even the possibility of acquiring more than one of the most important finite resources in urban areas.

Pied-à-Terre Taxes are pretty easy taxes to implement, because usually the ones affected may not even live in the town/state to vote against it to begin with. But ultimately this only covers a very small slice of homeowners.

You may be confusing LVT with property transfer tax? LVT is a tax on ownership of land - driving down land value, not up.

In practice it disincentivises investment in land (rent-seeking and speculative land hoarding) while incentivising land development. In cities this manifests as more, cheaper, homes, and lower rents, and is highly progressive.

I say in practice because we have over a century of explicit and implicit LVT implementations in the real world to demonstrate this. Most implementations of LVT have gone down as described. Estonia is a pretty fantastic case study - 90% of property is owner-occupier! And you might find this new study of implicit LVT in the US interesting - LVT correlates with higher earnings and demographic diversity: https://www.sciencedirect.com/science/article/pii/S004727272...

The challenges for LVT are really about how to transition the tax in for areas that are occupied, but severely underdeveloped. If a low-density inner-city area ought to be high-density, the owners are being charged accordingly. Long term, it stimulates development and the new housing surplus (splitting the tax burden of LVT across a much greater number of owners) balances things out. But that's no consolation to the people being told they have to pay tax on their backyard as if it's already a block of flats.

Well, I (and most economists) disagree.

I think you just have a misunderstanding of how taxes work. The person or company that "pays" the tax does not bear the full burden of the tax. That burden is usually widely distributed throughout the economy. In the example of LVT, a landlord would pass on the LVT in the form of increased rents to their tenants. A power company that pays a carbon tax charge more their electricity. An income tax makes it more expensive to give people jobs, so even if the earner pays it, that burden is also bore by the unemployed. Whoever pays the tax, they just pass it on to the rest of the economy.

But that's ok, because taxes can be paired with other methods like cash transfers or social programs that can effectively redistribute wealth. We should try to raise taxes with methods that have good side effects (LVT, carbon taxes), and then redistribute as necessary.

What if a first owned property is not taxed, but additional properties are?

LVT can be deferred to the time of sale.

i did recently see something interesting where if you look at buybacks from the Mag7, they basically almost entirely offset vesting employee RSUs. which kind of makes sense, those RSUs have to come from somewhere or they dilute the current shares.

i don't know that people on this website in particular would like the "solution" to that.

Why do you think a wealth tax would reduce stock buybacks? I don't see the relation.