4 ms·
(I lived in the Detroit area for nine months) "Getting rid of the speculators" sounds good and might even BE good. But you know, Detroit's been in decline sinc
by AlbertCory 3y ago
(I lived in the Detroit area for nine months)
"Getting rid of the speculators" sounds good and might even BE good. But you know, Detroit's been in decline since the 1967 riots. No conceivable LVT is going to be a game changer. If the land isn't worth anything because no one wants to live there, that's the end of the story.
- Brycee 3y agoIf you dramatically reduce taxes to labour and capital, it quickly becomes a very attractive place to move your business or earn an income. And that's the start of a development flywheel. Instead of taxing productivity, land taxes reabsorb the value generated by the community (positive externalities), which would otherwise flow into the pocket of the guy who owns a parcel of land in proximity to the public good. You then use these tax revenues to produce more public goods, which benefit everyone, and then suck up the value that accrues to the land. rinse and repeat. I highly recommend grabbing a copy of land is a big deal. https://www.amazon.ca/Land-Big-Deal-wages-about-ebook/dp/B0BL8H6Y9S https://www.amazon.ca/Land-Big-Deal-wages-about-ebook/dp/B0B...
- AlbertCory 3y agoDoesn't it seem to you like ~50 years of decline are too much to erase with one tax law? Have you ever been to Detroit?
- AlbertCory 3y agoI take it the lack of response means No?
- Brycee 3y agoI think that certainly makes it harder. Never been to Detroit. Probably still more economic activity there than there was 200 years ago.
- AlbertCory 3y agoTrue of nearly every city on the planet. Still less than 70 years ago, which is more relevant.