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We already have punitive geographic taxes on neighborhood dysfunction. These taxes are disproportionately paid by lower-income residents in the form of inflated insurance premiums. Auto insurance rates vary by zip code, so people who cannot afford to live in the 'right' zip code pay this tax in their insurance bill.
Insurance is like gambling, you are betting the insurance company will have to pay and the insurance company is betting they won't. When conditions create an environment where it is more likely the insurance company will pay then your premium necessarily rises. For example if you have a wood stove you may have to pay more for fire insurance, some insurance companies may even decline to cover you at all. As another example if you are an OB doctor you will pay much more for malpractice insurance. These are things that raise the risk to insurance companies so they need to collect more to make their bet profitable.
If you live in an area with high accident rates, high rates of claims and/or high rates of uninsured motorists the risk to the insurance company rises, consequently so does your premium.
And in Texas, poor people are often forced out of neighborhoods on the rise due to property taxes forcing gentrification.
This is happening everywhere. Atlanta, Boston, Seattle, San Francisco, DC, Chicago, Minneapolis,etc. Any large city that people want to live in and they have some money, gentrification is occurring. It continues because many people feel that cities are better off without the poor.
Someone else asked if there should be a looting and destruction tax on the black community.
We already have punitive geographic taxes on neighborhood dysfunction. These taxes are disproportionately paid by lower-income residents in the form of inflated insurance premiums. Auto insurance rates vary by zip code, so people who cannot afford to live in the 'right' zip code pay this tax in their insurance bill.
This tax is even a feature included in Obamacare, where health insurance premiums vary by zip code.
Then they need to pay a riot tax to pay for the inevitable wrecking of their own neighbourhood.
And the only persons who will be affected by it are the ones who didn't riot. I bet the ones who rioted most likely are young men with no jobs, can't get public assistance except through their mother or girlfriend, no car, some might have criminal records already. Men with nothing to lose. The ones with something to lose were likely not out there. That won't stop more riots from happening in the future, and it will drive away the people who work for their money.
I can tell you this. If some politician puts a riot tax on me, and I didn't do anything, I'm filing a lawsuit, and you can bet come the next election, that politician will be voted out of office.
This is happening everywhere. Atlanta, Boston, Seattle, San Francisco, DC, Chicago, Minneapolis,etc. Any large city that people want to live in and they have some money, gentrification is occurring. It continues because many people feel that cities are better off without the poor.
It happens because someone moves into an area they can afford to live.
Affluence moving into an area is a great chance for the poor to profit and climb the economic ladder from poor to middle class and the middle class to affluent.
It happens because someone moves into an area they can afford to live.
Affluence moving into an area is a great chance for the poor to profit and climb the economic ladder from poor to middle class and the middle class to affluent.
But this is the thing. It rarely works. The affluent moving into an area often means the cost of living rises in that area. The poor often don't profit, unless they are home owners. Alot of poor people rent rather than own. They just get pushed out.
But this is the thing. It rarely works. The affluent moving into an area often means the cost of living rises in that area. The poor often don't profit, unless they are home owners. Alot of poor people rent rather than own. They just get pushed out.
They have had the chance to become the ones that prosper, but they choose the easy way out. Often times these places have real estate at stupid cheap prices for years.
Around me people could have bought a house in the bad part of Oakland for 60-80k in 2012. Just about any full time job would allow you to qualify for a loan that low. Now they are selling for 350k. Purchasing property means investing in your community. Some would rather be a passenger than the driver, which is fine, but don't come to me complaining when you have never tried to take the reins of where your life is going.
Being a renter doesn't garuntee you the perks of fixed payments of being a home owner. You can have it both ways, you either get fixed payments and have to fix everything yourself and often pay more per month or you get a lower payment also th no worry about upkeep and deal with a changing market.
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