The hottest Tax policy Substack posts right now

And their main takeaways
Category
Top U.S. Politics Topics
Progress and Poverty 1308 implied HN points 26 Mar 26
  1. Build-to-rent is a symptom, not the root cause — the real problem is a system that lets private owners capture untaxed land value created by public investment.
  2. Policies that only limit corporate ownership won’t fix the underlying incentives and could shrink housing supply; the focus should be on changing who benefits from rising land value.
  3. Cities should recapture more land value through tools like land value taxes or long-term ground leases so they can fund infrastructure, promote infill, and reduce suburban sprawl.
Astral Codex Ten 41984 implied HN points 06 Mar 26
  1. SEIU repeatedly uses ballot initiatives as leverage, proposing attractive-sounding measures designed to wreck targeted industries and then demanding money or union access in exchange for withdrawing them.
  2. The proposed California Billionaire Tax is poorly written—taxing unrealized gains, valuing stakes by voting rights, and applying retroactively—and could drive billionaires and tech founders out of the state, possibly reducing revenue and harming Silicon Valley.
  3. The ballot proposition system creates a perverse incentive for interest groups to design destructive but popular measures as bargaining chips, effectively turning direct democracy into a tool for political extortion.
Noahpinion 15823 implied HN points 20 Feb 26
  1. Craft economic policy that’s robust to huge uncertainty from fast AI and other tech changes, so it will work under many different future scenarios.
  2. The 2010s progressive playbook of demand stimulus and big care subsidies ran into problems—macro conditions shifted to inflation, subsidies can push up provider prices, and promised billionaire taxes didn’t materialize.
  3. Move toward an agenda of abundance: have government take an ownership stake in the corporate system and push policies that promote and support human work so gains from AI are widely shared.
BIG by Matt Stoller 29680 implied HN points 26 Jan 26
  1. Government budgets now channel far more money into deportation and aggressive enforcement on working people than into investigating corporate wrongdoing, which creates a zone of elite impunity.
  2. The ICE raids in Minnesota highlight that most new DHS funding goes to detention, border infrastructure, and deportation rather than customs or enforcing employer violations that would target companies hiring undocumented workers.
  3. Federal white‑collar enforcement agencies — from the FTC and Antitrust Division to IRS audits and FBI corporate units — have been underfunded or hollowed out for decades, weakening oversight of monopolies and corporate abuse.
Progress and Poverty 1962 implied HN points 05 Mar 26
  1. Virginia just cleared HB 282, which would let Charlottesville, Falls Church, Fredericksburg, and Newport News opt into a split-rate land value tax, making the state much closer to actual LVT implementation.
  2. Momentum is spreading beyond Virginia: Kentucky may allow Louisville to pilot a split-rate tax, Ohio has a high-profile push for statewide enablement, and cities like Syracuse and Buffalo are actively exploring the idea.
  3. Research and local advocacy show LVT shifts can be done revenue-neutrally and tend to tax vacant or underused land while rewarding dense, multifamily development, and grassroots advocates are doing the legal and data work to make pilots and laws happen.
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Points And Figures 479 implied HN points 13 Mar 26
  1. Everyday people should get involved in local and state politics by running for office or actively supporting candidates, because taking action matters more than just complaining.
  2. The piece argues that when states shift to Democratic control they expand government and raise taxes, which is portrayed as taking money from families and eroding freedoms.
  3. Nevada could boost prosperity by cutting red tape and developing energy sources like nuclear and geothermal, and running or supporting like-minded candidates is affordable and practical.
The Take (by Jon Miltimore) 356 implied HN points 21 Oct 24
  1. Tim Walz received an 'F' for poor fiscal management, ranking last among all US governors. His spending increased substantially while taxes were raised significantly.
  2. Despite a budget surplus of $18 billion, Walz overspent and added more taxes, which has led to predictions of future budget deficits for Minnesota.
  3. High-income earners are leaving Minnesota due to these fiscal policies, worsening the state's economy and reducing tax revenue as people seek better conditions in states with lower taxes.
Unreported Truths 55 implied HN points 23 Mar 26
  1. Wealthy blue states and cities are failing to deliver basic services despite large budgets and resources. Many public systems like schools, infrastructure, and safety are deteriorating for most residents.
  2. Local NIMBY land‑use rules and growth limits in liberal college towns choke housing supply and lock land from development. That drives up rents and home prices, pushing young families and businesses away.
  3. High taxes and anti‑growth policies create a feedback loop of low growth, shrinking tax bases, and budget shortfalls. The result is rising costs that squeeze out the middle class and threaten long‑term vitality.
Astral Codex Ten 9085 implied HN points 06 Jan 26
  1. Anti-Boomer anger actually bundles three different claims — that boomers had it easier, that the system favors them politically, and that they’re uniquely selfish — and those claims should be argued about separately.
  2. Housing and tax policy are a core fight: proposals like repealing protected property tax rules, higher taxes payable on death or sale, or simply building more homes can redistribute housing access, but forced moves would hurt elders with deep place attachments.
  3. A lot of the tension is structural — a large, long-lived boomer cohort stuck in institutions creates real redistribution and entitlement pressures — so the problem isn’t just moral blame but demographic and political power dynamics.
The Novelleist 401 implied HN points 24 Feb 26
  1. Private land ownership and speculation have let landlords capture rising city land values, leaving municipalities unable to collect that wealth and making housing and public projects unaffordable. This concentration of unearned land rent stalls development and shifts gains away from city residents.
  2. Taxing only the unimproved value of land (a land value tax or Georgism) would punish speculation, encourage productive use of lots, and give cities a reliable revenue stream to fund services and infrastructure without taxing improvements. Land held in trusts or leased publicly achieves similar results by keeping land value for the community.
  3. Political and legal changes centralized tax power away from cities (and limited municipal control over land), so cities are economically productive but lack money and authority to execute big plans. When a city or public trust controls land, however, it can implement master plans and capture the benefits for the public, as seen in places that retain land ownership.
Progress and Poverty 2155 implied HN points 05 Feb 26
  1. The housing affordability problem is really a land crisis: scarce, desirable urban land near jobs and amenities is constrained, so prices rise even though there’s plenty of land elsewhere and building costs themselves haven’t driven the spike.
  2. A long run of policy and technological changes de-densified cities, and modern shifts (congestion, tighter credit, dual-career households, more single adults) have re-concentrated demand in a few job-rich places, making central land much more valuable and harder to expand.
  3. Solving the problem means loosening the land constraint — allow more housing where demand is highest and curb land speculation with tools like land value taxes or public land leasing so the location premium benefits the community.
Progress and Poverty 2347 implied HN points 29 Jan 26
  1. Housing cannot be both widely affordable and treated as a perpetually appreciating investment; treating homes as investment vehicles pushes prices up and locks many people out.
  2. If the conflict is left unresolved the system can break in several bad ways—sudden crashes that wreck the economy, slow neo-feudal stagnation where landlords extract huge rents, or demographic decline as people leave or fail to form families.
  3. A practical off-ramp is to unlock supply and curb land speculation: make it easier to build (YIMBY reforms) and shift taxes onto land value (Georgist ideas) so housing becomes more affordable without unfairly wrecking current owners.
Points And Figures 826 implied HN points 20 Feb 26
  1. Florida has moved to eliminate nearly all property taxes, leaving only taxes that fund schools.
  2. High property taxes can be a heavy burden for homeowners, prompting comparisons to paying 'rent to the government' and motivating people to move to lower-tax states.
  3. A State Treasurer candidate supports adopting Florida’s approach, cutting government size and eliminating waste, fraud, and abuse to reduce taxes and increase personal freedom.
Points And Figures 799 implied HN points 19 Feb 26
  1. The Chicago Bears are moving to Hammond, Indiana because Illinois politicians and taxes made building in Arlington Heights impractical. Indiana is offering a more business-friendly option that could support stadium-driven development.
  2. High property taxes and intrusive bureaucracy in Illinois are pushing residents and businesses to lower-tax states like Nevada, changing where people buy homes and where companies choose to operate.
  3. Relocations of major teams and businesses can spur redevelopment in struggling regions and become central political talking points about taxation and governance, influencing campaigns focused on avoiding an "Illinois-like" decline.
Noahpinion 29882 implied HN points 02 Jul 25
  1. The government can't keep giving big tax cuts to wealthy people because it leads to huge debts. It's not sustainable for the future.
  2. Raising taxes on the rich could help address the financial issues the U.S. is facing. This could provide more funds for essential services and programs.
  3. Continued tax cuts for the rich will mostly benefit wealthy individuals while putting more burdens on middle-class families and the poor. This creates a cycle of growing inequality.
Progress and Poverty 615 implied HN points 24 Feb 26
  1. A land value tax (LVT) is a practical way for cities to capture the unearned value of land to fund local services, lower taxes on buildings, and encourage infill development so cities can compete with suburbs.
  2. Getting LVT adopted is a pragmatic, local political project: start with a clear fiscal problem, recruit a local champion, run straightforward data showing most homeowners and small businesses will save, and design a revenue‑neutral shift.
  3. Compared with income, sales, or one‑off wealth taxes (and restrictive rules like Prop 13), LVT is harder to evade, better aligns incentives for land use, and is especially timely as cities and states take on more fiscal responsibility.
The Take (by Jon Miltimore) 277 implied HN points 11 Oct 24
  1. Norway's increased wealth tax led to many rich people leaving the country. This departure caused the government to lose significant income.
  2. The wealth tax was supposed to bring in more money, but it ended up costing the government much more than expected. The wealthy took their money elsewhere, leaving a big gap in revenue.
  3. Similar wealth tax proposals are being considered in the U.S., but if they mirror Norway's experience, they could drive wealthy individuals out of the country too.
Common Sense with Bari Weiss 1275 implied HN points 25 Jan 26
  1. A proposed California ballot measure would authorize a first-of-its-kind asset seizure or wealth tax targeting billionaires, creating major legal uncertainty and likely court battles.
  2. Many wealthy founders and investors say they plan to leave California if the measure advances, effectively prompting a potential exodus of high-net-worth people.
  3. That exodus could have big economic ripple effects because these individuals control companies worth roughly $1.3 trillion and employ about 50,000 people, putting jobs and the tech ecosystem at risk.
Common Sense with Bari Weiss 394 implied HN points 19 Feb 26
  1. The mayor proposed a 9.5% property tax increase to help close a roughly $5.4 billion budget shortfall after state leaders refused to raise taxes on the wealthy.
  2. The hike would hit a broad swath of New Yorkers — homeowners across boroughs and renters who could face landlords passing on costs or landlords going under.
  3. Progressive leaders have labeled the plan inequitable, and it risks provoking a voter backlash or tax revolt over rising property bills.
Progress and Poverty 654 implied HN points 10 Feb 26
  1. The Center for Land Economics launched a short-term Land Economics Fellowship that provides a $3,000 stipend, access to data and mentorship, and a public platform for 4–6 months of focused research; it’s open to people from many backgrounds and applications are due March 1.
  2. The Progress and Poverty Institute is offering Progress of Ideas grants (up to $10,000) to fund research on land value taxation and related topics; they’re especially interested in valuation methods, fiscal and distributional modeling, political messaging, legal constraints, and policy design, with applications due April 6 and eligibility limited to US 501(c)(3) organizations.
  3. The Henry George Foundation of Great Britain offers research grants for work on the modern political and ethical implications of Henry George’s ideas, especially with an international or UK focus, and there’s also a Land Research Network you can join via a short form to connect with other researchers and future opportunities.
Common Sense with Bari Weiss 533 implied HN points 10 Feb 26
  1. A nonprofit created by Democratic operatives spent about $182 million and funneled money to the largest super PAC running ads for Kamala Harris.
  2. A $37.5 million gift from Fidelity’s donor-advised fund — which lets donors give anonymously and receive tax breaks — made up a large share of its 2024 funding.
  3. Tax experts and conservatives say the source and timing of that money raised concerns about voter-registration efforts and dark-money influence, especially since the group dissolved shortly after filing its tax return.
QTR’s Fringe Finance 28 implied HN points 17 Mar 26
  1. Wealth taxes will likely raise far less money than proponents claim because of unrealistic assumptions and taxpayer responses like relocation and avoidance.
  2. Even large wealth-tax proposals would cover only a small slice of growing federal deficits and aren’t a reliable way to stabilize long‑term government finances.
  3. Framing big spending around narrow "tax the rich" plans can hide the true trade-offs, since sustaining big social programs usually requires broad-based income or consumption taxes on many people.
QTR’s Fringe Finance 44 implied HN points 13 Mar 26
  1. The plan cuts the estate tax exemption to $750,000 and raises the top rate to 50%, which sounds like it targets billionaires but the low threshold changes who actually gets hit.
  2. In New York City, $750,000 is often just a modest family home or the life savings of a teacher, nurse, or firefighter, so many middle-class estates would be taxed.
  3. Using this tax to close budget gaps would leave New York with one of the lowest exemptions in the country and end up taxing ordinary homeowners instead of only extreme wealth.
JoeWrote 39 implied HN points 16 Mar 26
  1. Promising income tax cuts only reinforces the Republican idea that taxes are a burden and makes Democrats look weak. That dynamic can help Republicans win and ultimately hurt the working-class people progressives aim to help.
  2. Progressives should reframe taxes as a positive civic tool that pays for public services and a higher quality of life, and push for steadily rising, progressive tax brackets that ask more from those who earn more. This avoids treating taxes as something the average person should resent.
  3. Being honest about raising taxes to fund popular programs can work politically; clear, adult messaging about trade-offs builds trust and helps break the bipartisan neoliberal agreement that treats taxes as inherently bad.
Progress and Poverty 962 implied HN points 21 Jan 26
  1. Land value tax legislation is gaining momentum nationwide, with new bills and carryover proposals active in states like Maryland, New Hampshire, New York, Minnesota, Washington, Michigan, and Ohio.
  2. A new Center for Land Economics board has been launched with prominent housing, parking, and policy leaders, signaling more organized and mainstream support for land value tax advocacy.
  3. Media, research, and political figures are increasingly discussing and endorsing land value tax, bringing more attention through reports and editorials even as some local pushback and policy rollbacks occur.
Don't Worry About the Vase 1747 implied HN points 16 Dec 25
  1. The $140,000 "poverty line" claim is nonsense because it conflates median spending with minimum needs and misuses averages, so it doesn’t accurately measure who is truly in poverty.
  2. Still, many families feel financially squeezed because required costs and social expectations have risen, and more households now need two incomes to maintain a typical middle‑class life.
  3. A real policy problem is benefit cliffs and phase‑outs that create high effective marginal tax rates and can trap people, so fixing how transfers are designed matters more than viral big‑number claims.
Letters from an American 28 implied HN points 13 Mar 26
  1. A small number of billionaires are spending huge sums on campaigns and political groups, which tilts elections and policymaking toward tax cuts, deregulation, and rules that favor the wealthy.
  2. That concentrated influence has real costs: it helps elect officials who push policies that increase deficits, cut the social safety net, and can contribute to risky, expensive decisions like war and economic instability.
  3. There is another choice — governments can ask the wealthy to pay more in times of crisis (as happened during the Civil War) so the burden is shared and public programs can be preserved instead of being cut.
Progress and Poverty 2116 implied HN points 02 Dec 25
  1. The Center for Land Economics is pushing for Land Value Tax (LVT) to become a reality today, not in the distant future. They've made significant progress in one year, building partnerships and spreading awareness.
  2. Their efforts include reviving a popular blog on land economics and engaging with elected officials who support LVT. This has helped grow their community and influence discussions on property tax reform.
  3. They’re asking for funding to expand their work, including producing educational materials, conducting research, and attending conferences. This support will help them organize and inspire more advocates for LVT.
Popular Information 9139 implied HN points 24 Jan 24
  1. The Child Tax Credit was expanded in 2021, leading to a significant drop in child poverty.
  2. There are efforts to extend and expand the Child Tax Credit again, but face opposition from corporate lobbyists.
  3. The proposed expansion of the Child Tax Credit is tied to extensions of business tax cuts, which are critiqued for benefiting profitable companies.
David Friedman’s Substack 206 implied HN points 21 Feb 26
  1. A tariff is just another tax and can make a country poorer by creating an excess burden — the loss from changes in production and consumption beyond the revenue raised. How costly a tax is per dollar raised depends on how much it changes behavior, which is driven by supply and demand elasticities.
  2. Protective tariffs that block imports to shield domestic industries are especially inefficient because they often stop trade, produce deadweight loss, and generate little revenue while benefiting specific political interests. Such tariffs trade overall economic welfare for concentrated political support.
  3. Many of the recent tariffs were country-targeted and used as a political weapon rather than purely as revenue measures, which tends to make them worse economically than alternative taxes. Legal limits now constrain that weaponization, though some ability to use tariffs for leverage remains.
Points And Figures 506 implied HN points 30 Jan 26
  1. A new tax-advantaged 'Trump Account' gives qualifying newborns a $1,000 starter deposit (file IRS Form 4547 or use the online portal) and allows up to $5,000 in annual contributions to build long-term equity exposure.
  2. The simplest, most effective strategy is to put the money in a low-cost S&P 500 index fund, invest regularly via dollar-cost averaging, and let dividends reinvest and compound; for example, $1,000 plus $50/month at an 8% return for 60 years can grow to roughly $850k.
  3. Success comes from disciplined, boring saving and long-term passive investing instead of market timing, and using accessible brokers and free educational tools can help give a child a financial and academic advantage.
Points And Figures 1172 implied HN points 27 Dec 25
  1. Allegations of large-scale taxpayer and voter fraud, including claims involving Somali immigrants, are eroding trust in local government and making fraud feel personal to property owners.
  2. Punitive taxes, heavy regulation, and aggressive property assessments discourage improvements and business formation and push wealthy residents to relocate, creating a ‘‘trickle-down taxation’’ effect where the tax burden shifts to people who can’t leave.
  3. Career politicians often avoid real consequences for mismanagement or alleged corruption, so the suggested remedy is to hold them accountable at the ballot box to stop taxpayers from bearing the cost.
Points And Figures 453 implied HN points 29 Jan 26
  1. Trump accounts give eligible children a one-time $1,000 federal seed and allow additional contributions (up to $5,000 per year from family, employers, or others) that must be invested in qualifying index-tracking funds and are generally locked until the child turns 18.
  2. Small, regular contributions compounded in low-cost index funds can grow dramatically over time—for example, $5 a month could become roughly $2,900 by age 18—so parents should save what they can and reinvest dividends.
  3. With wealthy donors and employers already contributing, these accounts are being positioned as a tool for financial empowerment and opportunity, so families should consider using them to give children a stronger financial foundation rather than treating them as simple aid.
Loeber on Substack 651 implied HN points 12 Jan 26
  1. California is heading toward serious fiscal strain with big deficits and pension debts, which makes it likely politicians will try to extract more revenue from wealthy tech companies and individuals.
  2. If the state pursues heavy or punitive taxes and bad policy, highly mobile tech workers and firms will relocate, eroding the Bay Area ecosystem, shrinking tax revenue, and weakening America's AI advantage.
  3. The practical defense is for successful technologists to run for and win office at local, state, and federal levels so the industry has direct representation and can help shape smarter policy.
Points And Figures 719 implied HN points 08 Jan 26
  1. Shrinking the size and scope of government is the clearest way to reduce the incentive for special interest money, since less government means fewer funding targets.
  2. Fraudulent fundraising practices like "smurfing" drive up the cost of elections and force rivals to raise ever more money to compete.
  3. High and rigged campaign costs discourage people from running, shrinking the candidate pool and protecting entrenched interests.
Slow Boring 5522 implied HN points 06 Feb 24
  1. Tariffs proposed by Trump are essentially taxes on imported goods
  2. Trump's tax increase could lead to economic distortions and benefit specific groups rather than the government
  3. Implementing broad tariffs may not strategically benefit national economic development
Points And Figures 826 implied HN points 29 Dec 25
  1. Wealth taxes and financial-transaction taxes are resurfacing at the state level and could push founders, executives, and companies to move or recharter to avoid large tax hits, with some arguing fiduciary duties may require such moves to protect shareholders.
  2. Nevada is being promoted as a business-friendly alternative because of low taxes, favorable quality-of-life and infrastructure, and strong legal protections like a statutory business-judgment rule, limited inspection rights, and specialized business courts.
  3. Recent court decisions and activist judges in traditional corporate havens have raised legal risk for companies, prompting a broader, nationwide shift as firms and investors consider relocating to states with friendlier tax and corporate-law environments.
Progress and Poverty 923 implied HN points 18 Dec 25
  1. Find a local elected champion and build a coalition of nearby allies; motivated local people paired with the right official can win reforms without a huge grassroots movement.
  2. Do the homework: study local law (uniformity, classification, assessment rates, exemptions, millage), involve the assessor early, gather parcel and valuation data, map land values, and model a revenue‑neutral shift so you can show who wins and loses.
  3. Be pragmatic and start small with voluntary, revenue‑neutral local opt‑ins (split‑rate, universal building exemption, leases, or targeted capture), and use short policy briefs and clear visuals to convince busy politicians.
Common Sense with Bari Weiss 445 implied HN points 14 Jan 26
  1. The mayor’s ambitious social programs will be expensive and will require new revenue from the state to be paid for.
  2. Wealthy individuals can often avoid higher personal taxes by moving away, but corporations are harder to escape taxing because state and city corporate taxes are apportioned based on where their sales occur.
  3. If Albany raises corporate income taxes to fund these plans, the increases could ripple through the economy and end up hurting small, local businesses.
Erdmann Housing Tracker 126 implied HN points 17 Feb 26
  1. Stable rent-to-income ratios hide a real housing shortage because families cope by downsizing, delaying household formation, and accepting lower-quality housing, while prices and low‑tier rents rise much faster than rents for high‑end homes. This means survey spending shares can look unchanged even as scarcity and displacement get worse.
  2. Fixing housing requires a hierarchy of policies: expand single‑family rentals and mortgage access, then upzone to add dense, amenity‑rich housing, and only after that tackle hard socio‑economic planning like public safety and inclusion efforts; badly designed measures like inclusionary zoning can tax new supply and make shortages worse.
  3. Most recent home price gains are driven by inflated land value from scarcity, and broad property taxes already act like a Georgist land tax; building more homes and freeing up supply will reduce the land premium and bring prices down, whereas restricting supply keeps the scarcity tax in place.