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I feel like I'm failing an IQ test here. I assumed he meant 100% tax on rent, but then there's this line: >Owners of valuable land would be forced to make maxi
by aqsheehy 9y ago
I feel like I'm failing an IQ test here. I assumed he meant 100% tax on rent, but then there's this line:
>Owners of valuable land would be forced to make maximum use of land with higher density rentals in order to make sufficient rental income to pay the land tax.
What would the 100% be on exactly?
- stagbeetle 9y ago> Income from land is thus completely unearned and thus any income gained from land ownership should be completely taxed at 100%. I believe he's mixing up profit with income, which should tell you how well-read he is on the subject matter.
- djrobstep 9y ago100% of the rental income generated from land value (as opposed to buildings/improvements). Formula: total rental income * (value of land / value of land and buildings)
- aqsheehy 9y agoWhy would anyone buy property under this regime?
- deleted 9y ago[deleted]
- djrobstep 9y agoFor the exact same reasons they buy it now.
- TheCoelacanth 9y agoFor exactly the same reasons that they do now other than speculating on its value increasing in the future. And of course, the prices for property would be much, much lower under this regime.
- boznz 9y agosomewhere to live..
- pavel_lishin 9y agoYour article did not make this clear at all.