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In addition to the idea that this tax is designed to make better use of land, the best tax is one that will pass. I think most people who support a land value t
by dfxm12 3y ago
In addition to the idea that this tax is designed to make better use of land, the best tax is one that will pass. I think most people who support a land value tax would also support a wealth tax. A land value tax is more politically viable.
Also, importantly, you can't "hide" land (from taxation) by moving it out of the country.
- TimPC 3y agoI'm not sure about this. I think soaking the rich is likely more viable (at least in popular vote terms) than a regressive tax like land value. Middle class people will at certain points in their life have over 100% of their net worth in land (perhaps even 1000% if they can barely afford a 5% down mortgage for a property that is half structure half land). Meanwhile profiles for the ultra-wealthy are typically 13% real estate. Taxing one person on 1000% of their wealth and one person on 13% of their wealth is nothing like a wealth tax.