4 ms·
I'm a huge supporter of LVT but one thing I can't get around: they're hugely unpopular with voting demographics, ie landowners. Suppose we implement a LVT. Hou
by rcpt 5y ago
I'm a huge supporter of LVT but one thing I can't get around: they're hugely unpopular with voting demographics, ie landowners.
Suppose we implement a LVT. Housing costs go down and we lift a ton of people out of poverty. Great! Now everyone can afford to own land. But as soon as they do of course they go and vote in tax limits (eg the hugely popular Prop 13) and other policies that incentivze land speculation.
My understanding is that this happened in New Zealand where in the 90s they eliminated a great LVT and replaced it with income and sales tax.