What Happens When You Give Government the Power to Regulate Land
Published in June, 2017
The "compensation" racket is no way to protect property rights
The problem with most property rights advocates today is they don't, deep down, believe in property rights.
Your property rights are about ownership. Your exclusive control.
Which means no gang of politicians and bureaucrats working for special interests has the right to separate you from your land.
But as we see in this story, "property rights and business groups" already accept the idea government has the right to regulate land use. < http://www.pbs.org/newshour/rundown/justices-side-government-property-rights-case/#.WVFAXCfytQI.twitter >
These groups then express shock and outrage when government goes ahead and...regulates the use of their land. In ways that ruin its value, utility, and enjoyability.
These so-called property rights advocates then move on to demanding "compensation" for these losses.
A classic case of demanding that government rob Peter to pay (compensate) Paul.
Which always results in two things.
First, government confiscates other people's property -- in the form of taxation -- in order to "compensate" the previous victims of regulatory expropriation.
Second, the amount of compensation is never enough. Never enough to make up for loss of current and future market values and use.
Theoretically government is supposed to protect your property rights.
In practise, government is the Number One threat to your property rights.
Real property rights means getting government out of the real estate business.