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All a land value tax will do is drive up rents. A tax on wealth above 2 million USD adjusted for inflation would be better.
by hwstar 11y ago
All a land value tax will do is drive up rents. A tax on wealth above 2 million USD adjusted for inflation would be better.
- branchless 11y agoThis is totally wrong. Why don't our "businessmen" landlords charge more rent now. Read up.
- hwstar 11y agoWhen costs go up, they tend to get passed on-- Especially when everyone is subjected to the same cost increases. An example: Look at what happens to restaraunt prices when the minimum wage is increased. (I'm not endorsing that we should not raise the minimum wage, I'm just using it as a substitute for a land value tax as both will be applied uniformly).
- nickff 11y agoEncouraging rich people to fritter away their money on ephemeral objects instead of investing in technologies and equipment which would improve per captica productivity would be good?
- salemh 11y agoDo rich people invest in technologies and equipment as a safe haven for their capital?
- nickff 11y agoNo, wealthy people invest their money in all aspects of the economy to both benefit themselves and others, from their own businesses (whose objects vary, but are generally positive in terms of human welfare), to startups (which advance new technologies), to municipal loans (which finance infrastructure), and even many donations which pay for university research.