Do you see the cat: https://www.henrygeorge.org/catsup.htm https://www.henrygeorge.org/catsup.htm I mostly agree with the goal of Georgism: I've seen the waste

Do you see the cat: https://www.henrygeorge.org/catsup.htm https://www.henrygeorge.org/catsup.htm I mostly agree with the goal of Georgism: I've seen the wasteland that occurs when everyone is an investor waiting for the area to take off (New Brighton, Christchurch which has been slowly rotting over many decades because of investors IMHO). However an 11% tax on land value is completely whacko. There is already a holding cost for undeveloped land: either a mortgage or the opportunity cost (of not investing in say the stock market). (Albeit balanced somewhat by the benefits of using land as collateral for loans when interest rates are low). The clichéd story of Georgism is an undeveloped plot amidst developed land. I suspect that situation is not common: developers usually will develop if land is surrounded by valuable property! How much of central New York is blank property? Detroit: what happens when a whole area is blighted? The tax is just a way to steal the land value over time from the owners. 11% less CPI means devaluing at say 6% per annum so property has zero value after a couple of decades. That is definitely not capitslism and is not so far distant from communism (state owns private property over time, it just takes longer than a revolution to do so).