density, housing, NIMBYism, Proposition 13

Is California still a trendsetter?

When I was young, people used to say that global trends started in America and American trends began in California. One famous example was Proposition 13, which signaled a broader tax cut movement in many other states and countries. California recently passed a couple of bills that may signal the beginning of a major pushback against NIMBYism.  SB-9 allows homeowners to divide lots in two, and then build two housing units on each of those lots.  Of course many lots...
EconLog By David Henderson
California State Government Will Lose Big from Capital Gains Tax Increase

    President Biden has proposed raising the top federal tax rate on long-term capital gains from its current level of 20 percent to 39.6 percent. The rate would apply to people with income of $1 million a year or more. There are many good...

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