Tax Justice: A Blueprint for Replacing Property Taxes with Middle-Class-Friendly Reforms

Sid challenges the current property tax system as inherently regressive, arguing that it disproportionately burdens middle-class homeowners while favoring the wealthy. He paints a picture of the system as a significant annual burden for many, particularly for seniors and minorities who may be forced out of their neighborhoods due to rising property taxes. Sid proposes a comprehensive tax system overhaul, replacing property taxes with middle-class-friendly, progressive alternatives.

His proposed reforms include various consumption taxes to redistribute the tax burden more equitably, including progressive surtaxes on durable goods and luxury home sales and increased taxes on institutional single-family home rentals, gamers, flippers, and Airbnb sales. Additionally, Sid suggests implementing progressive income, wealth, financial transactions, and carbon taxes at the local level. These include a progressive local income tax, wealth tax, financial transactions tax, and environmental carbon tax.

By advocating for these reforms, Sid seeks to create a fairer and more just tax system. His plan is designed to reduce the burden on middle-class homeowners and address the disparities present in the current property tax system.

The book aims to spark a conversation about tax justice and present a concrete plan for reforming the tax system. With its potential to better serve the interests of the middle class and promote economic equality, it offers hope and optimism for a more equitable future.

By Sid Som, MBA, MIM

Copyright October 2024

ISBN: 9798344093284