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The extent to which you can take a sizeable cut of corporate profits by taxing land / real estate is pretty limited because many profitable companies don't need
by nikitaga 5y ago
The extent to which you can take a sizeable cut of corporate profits by taxing land / real estate is pretty limited because many profitable companies don't need much real estate. There is no rate at which you can sufficiently tax Netflix, Apple or Jane Street just with LVT while not impossibly over taxing most other businesses that use more real estate per dollar of corporate profit. And the solutions to that are not any better than those that are based on taxing corporate profits directly.
- eru 5y agoSorry, I didn't imply that taking land would be a backdoor into taxing corporate profits. No, not at all. (Though the companies you mention do use quite a bit of real estate by value.) Taxing corporate profits is silly, and we shouldn't even try to do it. I suggested LVT just as the least bad way to get revenue for the fisc.