Cincinnati Public Schools asks voters to consider first-ever earned income tax levy. Here's how it would work.
https://www.wcpo.com/news/local-news/hamilton-county/cincinnati/cincinnati-public-schools-asks-voters-to-consider-first-ever-earned-income-tax-levy-heres-how-it-would-work
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2 Comments
givesomefucks@lemmy.world · 2 pts · 21d
This makes sense.
Property taxes get baked into rent increases
Taxing earned income means if they raise prices, it raises their gross income, raising their taxes
They could still pass on the cost, but even if the math works out the same, there's a psychological aspect to it so less of them will.
With property taxes, they just calculate the cost before hand and raise rent.
That raises housing prices, which raises their property evaluations, which raises the rents again. But that method raises housing prices in the current and the value of their holdings.
Really impressed with this idea, it had never occured to me before.
curve@lemmy.world · 1 pts · 20d
Seems a lot of initial blowback so I'd be surprised if it passes or even appears on the ballot.