Quote:
Originally Posted by GGnoRE
woah. applying first year econ too literally here eh
The point of the foreign-ownership tax is to make foreigners bear the deadweight loss created by government intervention while domestic citizens benefit from affordable prices.
Minimum wage is a different matter because hyper-inflating the cost to employers would do more harm to all of domestic consumers including the min-wagers in the long run.
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Absolutely first year econ there. Logic remains though tax one group to benefit another. Justified or not. Foreign or not. Disrupting the market.
And it wont just be foreigners bearing the cost of the tax. It will be all pre existing homeowners (locals included) who say for instance if a tax is implemented make our home we wish to put up for sale a little more expensive and have fewer potential buyers and thus lower potential sale price and gain on sale.