> Tragically this would cause most land in the US to have zero or negative market value, leading to massive distortions and trillions of dollars of wealth destr

> Tragically this would cause most land in the US to have zero or negative market value, leading to massive distortions and trillions of dollars of wealth destruction Would it though? Nothing is actually destroyed. The land is still there so it's basically just a redistribution. Why not issue some bonds to existing land owners or something as compensation? That's what Britain did when they made slavery illegal? It might delay the benefits to the state by a few decades, but well worth it to fix incentives I would think...