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I agree. Land value tax. It would cut the banks down to size in no time as it would cut down land speculation which makes up the bulk of bank lending.
by branchless 11y ago
I agree. Land value tax. It would cut the banks down to size in no time as it would cut down land speculation which makes up the bulk of bank lending.
- ArkyBeagle 11y agoI'd simply be interested in seeing more of working people's spending money available to increase the economy. I am not sure that this must be at the expense of banks. One natural experiment in the effects of speculation is home prices in Texas ( which taxes land rents more than most states ) vs. Florida ( which taxes them less ). It would also help address some examples of misallocation of land. Since the tax base is now largely market driven, it's all but impossible to game.
- TheCoelacanth 11y agoWell, it's a very small sample, but Florida was one of the hardest hit by the housing bubble a few years ago, while Texas had relatively stable housing prices. California also was heavily impacted by the housing bubble and it has Prop 13.