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this post was submitted on 20 Jun 2024
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A Boring Dystopia
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You're misunderstanding how their wealth is distributed. By and large, they're not directly owning the land and paying taxes. They just own significant stakes in the actual companies holding property. I'm sure they own a house or three, but it's not significant compared to their other assets.
I'm not taking a position on whether property taxes are good. I think they are. I'm just pointing out the discrepancy.