JumboBuc
Senior Member
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- Jun 26, 2013
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Subsidy from the city and state government. Property taxes from new construction are NOT the only source of government funding. Increase the tax rate on the rich/corporations rather than cutting them and use that to fund the subsidies.
City revenue comes overwhelmingly from property taxes, so to the extent city government subsidies increase that is largely contingent on property taxes. State revenues come overwhelmingly from income taxes which by the constitution of the Commonwealth must be "flat." So on both counts, increasing the tax rate on "the rich/corporations" is way harder in practice than in theory.
I agree that public funds should be put to MUCH more use in expanding the supply side for low income housing than they are today. In just about no other markets (e.g., food, health care, education, transportation, etc.) do we expect suppliers of relatively higher-priced goods to provide subsidized goods to lower-income individuals as a condition of the suppliers being allowed to operate. We don't, for example, mandate that fancy restaurants and grocery stores set aside 20% of their meals for the hungry as a condition of them being allowed to open; rather we establish WIC and SNAP and NSLP and other public food assistance programs. The provision of necessities for those that can't afford them is usually the role of government, and historically government has played a much bigger role in building public and subsidized housing than it does today. That should expand. But market housing supply should also expand, because at the end of the day the vast majority of people live in market rate housing.