A LVT would counter some of the externalities that enable rent extraction from assets. I'm not arguing for an LVT though, I think it's more interesting to focus

A LVT would counter some of the externalities that enable rent extraction from assets. I'm not arguing for an LVT though, I think it's more interesting to focus on rents, an externalities, in general. What if all assets were rented, at market value (or some aproximation), and all externalities accounted for in assets (things like cap and share comes to mind). When it comes to government they should have no rights to the rent extracted, the commons should not be seen as a state asset. In principle it should be distributed as a dividend (which, in turn, could be taxed)