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LVTs are a panacea for the concerns paper wealthy. They fear taxes on stock trades, capital gains taxes, and other forms of paper wealth tax; a LVT lets them po
by dleslie 4y ago
LVTs are a panacea for the concerns paper wealthy. They fear taxes on stock trades, capital gains taxes, and other forms of paper wealth tax; a LVT lets them point at the homes of the masses and say "Look, there is an easy to track and tax asset class, sink your teeth into that and not my stock portfolio or trades."
- imtringued 4y agoA lot of companies like McDonalds are just real estate companies in disguise, an LVT would wipe out the stock market.
- tptacek 4y agoIt just doesn't matter. Land value taxes aren't going to happen. We need to make smarter decisions with the policy levers we actually have, and not pretend we'll have levers we don't.
- imtringued 4y agoYou can't make smarter decisions downstream, you can only distribute the burden of the monopoly away from your interest group.
- dan-robertson 4y agoFinancial transaction taxes aren’t really a concern for people who own stocks. Trades used to cost money before the zero-fee brokerages. An FTT will just be like everyone having to pay a slightly higher fee: a little less liquidity, slightly wider spreads, not much cost if your investment strategy is shaped roughly like ‘buy SPY and then do nothing for a long time, then sell some and maybe buy some bonds’.