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We need Georgian land value tax for domain names.
by lonelappde 7y ago
We need Georgian land value tax for domain names.
- hombre_fatal 7y agoI can't even imagine how an appraisal system would work. How do you even do price discovery? Ask people how much they'd spend on it without actually having to put their money where their mouth is? Land is nothing but objective and quantifiable qualities like its distance from the city, natural resources, size, fertility. Domain names are arbitrary. If people want to swap $millions for vanity, I say let them.
- jedberg 7y agoPrice discovery is easy. Every domain is available once a year. Anyone can bid. If you want to keep the domain, you pay 1% of the highest bid, otherwise the bidder gets it (they have to put in the money to secure the bid). The only downside is that well capitalized bidders could harass small owners with outsized bids, if they were willing to possibly end up with ownership.
- zeulhex 7y agoAgree, but economists do have a solution for this problem. Self-assess the value and pay taxes based on that value. If someone/the government makes an offer that is some percentage greater than that value, you must sell.
- ZainRiz 7y agoSounds like a solution only an econ could think up of, which doesn't take into consideration other external factors that would apply specifically to the person holding the property, such as: - human psychology (loss aversion, endowment effect, mental anxiety due to risk of being forced to sell your property) - switching costs (monetary, mental, time spent searching for alternatives, costs to moving to something else) - replacement costs (transaction costs, etc)
- robterrin 7y agoLogged in just to upvote your comment. An actual land value tax would be even better!