geocon

7 ms·

31.
by geocon 4y ago
Well, land and property taxes are not the same- the notable difference being that property taxes penalize building/remodeling/additional construction and so forth. A big part of addressing NIMBYism is to remove the economic incent
32.
by geocon 4y ago
Daryl Fairweather is the chief economist at Redfin, a major housing and real estate company (competitor to Zillow). Seems she's pretty bullish on LVT.
33.
Redfin Economist says land value tax will fix the economy(narrativespodcast.com)
67 points by geocon 4y ago|231 comments
34.
by geocon 4y ago
Applying Georgist ideas to natural resources, interesting
35.
Georgism Substack: The Evolutionary Blueprint(progressandpoverty.substack.com)
4 points by geocon 4y ago|0 comments
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Fix Problems Not Symptoms(amusingmulcahy.com)
5 points by geocon 4y ago|0 comments
37.
by geocon 4y ago
Gentrification is a boogeyman- all gentrification means is that land has become more desirable to live on (that's why its value increases). That's good. We want to improve quality of life. If you follow the logic of gentrification
38.
by geocon 4y ago
Well yes, natural resources are dealt with under severance taxes on extraction. By intellectual property rents I mean monopoly rents from government enforced IP law. And yes, neoclassical economics classes land under capital and that is a f
39.
by geocon 4y ago
Really? Care to tell that to the various Nobel laureate economists who have endorsed land value taxation? Do you really think you understand economics better than Paul Samuelson, Milton Friedman, Joseph Stiglitz, William Vickrey?
40.
by geocon 4y ago
I think you have a mistaken view of who is actually making money in this equation. Developers do not make all that much money from building housing, which is actually a productive contribution to society. Homeowners, on the other hand, make
41.
by geocon 4y ago
I think you have a mistaken view of who is actually making money in this equation. Developers do not make all that much money from building housing, which is actually a productive contribution to society. Homeowners, on the other hand, make
42.
by geocon 4y ago
I think you have a mistaken view of who is actually making money in this equation. Developers do not make all that much money from building housing, which is actually a productive contribution to society. Homeowners, on the other hand, make
43.
by geocon 4y ago
Because land has fixed supply, as you've said, the tax is perfectly efficient: it causes zero deadweight loss. But LVT actually has positive externalities as well- namely, it makes it nearly impossible to speculate, which with land con
44.
by geocon 4y ago
Most increases in land value are for the construction of infrastructure and other investments which make people more productive and increase wages, so while land values increase that investment increases wages also, meaning that it shouldn&
45.
by geocon 4y ago
One of the nice things about LVT is that it aligns those incentives though, since what increases tax revenue the most is investment in public infrastructure and services. It's the Henry George Theorem at work: https://en.wik
46.
by geocon 4y ago
Yeah there are lots of small reforms that can be done: transitioning property taxes to land value taxes, ending property tax caps like prop 13 that just allow landowners to extract rents, putting in place land value capture for public trans
47.
by geocon 4y ago
I say "don't get caught up in the end state" not because I don't think the end state is important but because the intermediate effects are hard to predict without more data. But, more to the point, if LVT is the most eff
48.
by geocon 4y ago
Well, while Georgism is most famous for advocating for land value taxation the LVT itself is not the only Georgist tax. All forms of economic land, including such things as natural resources and intellectual property, also generate economic
49.
by geocon 4y ago
If you're looking for data, Lars Doucet has written a pretty exhaustive 4-part series going over claims and evidence: https://gameofrent.com/content/progress-and-poverty-review . Obviously there's more to be f
50.
by geocon 4y ago
Except that's not how Georgist tax structure is decided, it is 100% of the land's rental value. If you want a good overview I recommend this exhaustive and data-heavy series of articles: https://gameofrent.com/cont
51.
by geocon 4y ago
Georgism was extremely influential in its time, Progress and Poverty was the second best-selling book after the Bible and 200,000 people attended Henry George's funeral. Only it's been kind of written out of the history books sinc
52.
by geocon 4y ago
This is a good point but it's not a problem with georgism per se so much as the transition to get there. There are a multitude of policies that can be used to ameliorate the change from a system based on taxation of labor and capital t