alt Hacker News> Property tax is the workable wealth tax.
There is a difference between property-as-primary-residence and property-as-secondary/tertiary-residence or property-as-proxy-for-parking-money.
Property taxes handle the first scenario, wealth taxes handle the latter.
In San Diego we're voting on a new property tax that only applies to nonprimary residences.
The landed gentry want you to believe that they can't be touched unless you're willing to kick your grandmother to the street, but we can absolutely write taxes that apply more narrowly, and sensible tax policy leads to better outcomes and fewer market distortions than hamfisted regulation.