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I think that it should be a ramping rate, the idea being that a 1x landlord should be able to outbid a 2x landlord and so on.

In theory this encourages a sort of spreading effect where at some point the Nth property is too expensive to buy to rent or speculate on, which naturally stops the exponential effect of making land lording your full time gig by continuously expanding the portfolio.

As someone who generally hates taxes I support this. Taxes at best should be used to discourage externalities and rent seeking.

However, California even tried to repeal prop13 for non primary residence and it failed! So i'm not sure how popular this idea is.

They already are.

Not enough. Things like 1031 exchanges should be removed from the tax code.

Only on a local level.

And businesses can already expense that tax, so it's 20% off, while individuals have been subject to the SALT cap

Clearly, not enough!

Capitalists hate him! Use this one weird trick to...