tag:blogger.com,1999:blog-7539577136486286096.post1247487495354333807..comments2024-03-28T02:46:41.090-05:00Comments on Supply and Demand (in that order): Housing Sector ProfitabilityCasey B. Mulliganhttp://www.blogger.com/profile/03317454408275318282noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7539577136486286096.post-69834518552758295992011-01-21T14:28:45.674-06:002011-01-21T14:28:45.674-06:00And while I'm thinking about it: how do you ex...And while I'm thinking about it: how do you explain the fact that Norway has more entrepreneurs per capita than the U.S., given their onerous, crushing tax burdens -- business and personal?<br /><br />http://www.inc.com/magazine/20110201/in-norway-start-ups-say-ja-to-socialism.html<br /><br />Maybe the effect of business taxes is not as profound as you assume?Steve Rothhttps://www.blogger.com/profile/11895481216028771016noreply@blogger.comtag:blogger.com,1999:blog-7539577136486286096.post-87638821196250186552011-01-20T20:49:03.564-06:002011-01-20T20:49:03.564-06:00Figure in the housing sector's uncounted labor...Figure in the housing sector's uncounted labor costs, and the gap is even bigger than 10%. (Home-work really doesn't pay).<br /><br />Here's what I find odd, though:<br /><br />You mention taxes and subsidies, but only discuss business taxes as causing the gap.<br /><br />Without going to look it up, I have to assume that housing subsidies -- the mortgage-interest deduction, implicit and explicit subsidies to lenders, and lender-favorable monetary policy (all minus property taxes) -- utterly dwarf business tax revenues. Am I right? What were your findings?<br /><br />If I am right, I would think that those housing subsidies would also utterly dwarf business taxes as the presumed cause of the gap. I find it quite odd that you don't discuss that.Steve Rothhttps://www.blogger.com/profile/11895481216028771016noreply@blogger.com