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Just your annual reminder that the Land Value Tax is the Least Evil Tax. Tax "rent"[0] at 85-100%, allow owner-residents to defer LVT taxes owed to time of sal
by eutropia 5y ago
Just your annual reminder that the Land Value Tax is the Least Evil Tax. Tax "rent"[0] at 85-100%, allow owner-residents to defer LVT taxes owed to time of sale with modest interest. Speculators would be naturally driven out in favor of people actually using the land.
[0] - Which is gatekeeping/charging for land (finite natural unimproved resources like space, spectrum, water, wildlife, oil, etc)
- imtringued 5y agoAnother way would be to simply raise capital gains taxes on land. Making money off of land (as opposed to renting) just doesn't make sense. It's basically Bitcoin with real life consequences.
- rasz 5y agoBut what if all I want is to park hundreds of millions I managed to steal from eastern state run power company? I dont care about gains, I dont care about rents. I simply know that I wont lose money buried in land/buildings. I already have tens of millions in prime Manhattan commercial real estate, all vacant obviously.
- chid 5y agoI don't see how you could justify it's the 'least evil tax'. In theory the least evil tax is something that doesn't change behaviour. We have a land value tax here in Australia which doesn't apply to owner-residents. That said, most places are excluded.
- deleted 5y ago[deleted]
- perilunar 5y agoThe "least evil tax" probably comes from Milton Friedman, who called land tax the "least bad tax". Owner-occupiers do pay land tax in Australia — local council rates are effectively land taxes as they are based on the unimproved value of the land (but they often include stormwater and waste charges as well).