In: Economics
Of the four schools of thought in urban economics (Mainstream, Behavioral, Conservative, and Marxian), what would each school think about increasing a city's property tax in order to provide low-income households with health services. Please explain thoroughly. Thank you.
As per Marxian thought process, the property of the people is owned by the government. Therefore, increasing the economy's property tax, the amount will be obtained by the government. Eventually, the government willspend the property tax income on the welfare of the poor.
As per the behavioral economists they will tax heavily in the people having more number f properties and less tax on the people having less number of properties. So, by obtaining heavy tax amount from the richer class they will improve the conditions of the poor class.
Mainstream economists will tax everyone the same amount. By obtaining the tax, they will build better infrastructure,etc. This will indirectly help the poor but not directly.
Conservative economists will not tax heavily but will lower down the tax and thereafter with the tax amount will improve the conditions of the poor. The conservative economists will also try to check if any of their policies harm the environment or not.