This is an interesting point of view. Reminds me in some sense of some of the ethical justifications behind land value tax or property taxes. The intention of

This is an interesting point of view. Reminds me in some sense of some of the ethical justifications behind land value tax or property taxes. The intention of legally enforced ownership is primarily to encourage development - and not to incentivize speculation as we seem to be doing in many situations. It seems reasonable to tax such speculation. I'm inclined to agree with you.