But the tradition here, and in many other countries, has been to tie these public, defined benefit programs to a trust fund, with the revenues coming mainly from dedicated payroll taxes levied on employers and employees.
It is noteworthy that market activity began to slow before the imposition of the special tax on sales of homes to non-residents, which 1/2  BIS central bankers' speeches  suggests that other factors may have begun to interrupt the cycle of extrapolative price expectations.