General Discussion
In reply to the discussion: Mayor abruptly slashes wages to minimum for Scranton City Workers [View all]FrodosPet
(5,169 posts)Suppose the city council does the right thing. Taxes go up, people already barely getting by start losing their houses to unpaid tax foreclosure, rich people who consider their property marginal at best abandon it when it becomes financially advantageous to do so, and the voters vote in teabaggers who cut the taxes back to the levels where the troubles began.
"Ah! But the city gets all this property it can sell for revenue!", one may say. But before it is sold, it takes a few years. A few years where the property has to be maintained - an expense, or ignored - a safety hazard which makes the property even harder to move.
So how exactly does socialism fix this? What would socialism do for revenues if everything of value is nationalized? I suppose the profits of the enterprise would help, but would it be enough?