They did one here before, I think in the 1950s. They value the houses (they just did this for all homes, 2 years ago), and then they put a 20% state mortgage on everyone's house and you repay the state over 10 years or so. The state confiscates your equity and you buy it back.
Discussion
So they push you back in debt...but there has to be some reasoning behind this. How do they explain that since you are the owner? That you bought the property too cheap?
That it's not fair to laborers to only tax income. It's a property tax, basically.
People need to start claiming their land patents which were granted after the revolutionary war and protected by treaties. Its the superior title to the land that can not be encumbered and it is to the assigns and heirs forever. This is why I have been learning and helping liaison people to do for the last 13 months I believe. It's a protective mechanism over the land where the property is and the government can't mess with it lawfully anyways.
That'd be outrageous. 🤔 what you describe is totally different from how wikipedia defines the concept.
https://en.m.wikipedia.org/wiki/Reverse_mortgage
> Reverse mortgages allow older people to immediately access the home equity they have built up in their homes, and defer payment of the loan ...
Where can I read about this being discussed like you wrote?