What happens to the self-funded or partly self-funded retiree?
These deserving retirees would be overjoyed with such a scheme. Although they would indeed have to continue repaying the community for the value which the existence of the community itself gives to the site, this would be truly small beer compared to what they’re currently being stung. When you consider that on top of their income and capital gains taxes, they are paying up to 32% of every dollar on a truly biblical multitude of taxes including income tax for the producers and providers of goods and services plus all the other indirect and hidden taxes we all endure. If the unimproved value of the site that these retirees occupied was worth say $100,000 (excluding the value of the house), then they would be paying a maximum $10,000 nominal site rent in the first year, and in subsequent years whatever the annual assessed rental value is. The buying power of what’s left grows by at least a third since they’re paying no income tax or capital gains tax, nor are they paying any of the other
