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But long-term impacts are harder to predict. A metric shit-ton of debt is just not going to get paid back, and that will have impact for years.
Land (not Property) Tax! The fairest tax there is.
Agreed, but land owners don't like it, so they block it.
Agreed, but land owners don't like it, so they block it.
This is probably a pretty good indication of how the overall economic impact will play out this year. Huge immediate downside (we are in it) and then a burst of recovery, tapering off.
But long-term impacts are harder to predict. A metric shit-ton of debt is just not going to get paid back, and that will have impact for years.