Georgism is very interesting but how would its principles help a city like Detroit where there is almost free land begging for developers? From a Georgism perspective, the land would be taxed as being worthless and still the developers won't line up because so very few want to live or do business there.
By the theory expounded here, how did we ever get from the Gilded Age of fabulously-wealthy landowners and starving proletariats to today's affluent society?
"A modern LVT would replace inefficient sales, property, income, and capital gains taxes, eliminating the penalties that the state levies on people who create a successful business or build a home."
Not even close to true.
It should be obvious, but the numbers don't add up. The total value of all land in the US is roughly equal to US GDP. A 3% tax would yield (roughly) 3% of GDP. Social security and Medicare are roughly 8% of GDP. Of course, there is also defense, interest on the national debt, transportation, etc.
So the whole underlying premise of Georgism is that the purpose of land is to be exploited and taxed? And the writer proposes this as a model for us to emulate in today's world whose very survival is threatened by the results of hundreds of years of man's thoughtless environmental exploitation? Can one be any more out of touch than that?
Georgism is very interesting but how would its principles help a city like Detroit where there is almost free land begging for developers? From a Georgism perspective, the land would be taxed as being worthless and still the developers won't line up because so very few want to live or do business there.
By the theory expounded here, how did we ever get from the Gilded Age of fabulously-wealthy landowners and starving proletariats to today's affluent society?
And how will this affect prop 13? The landed gentry in California would like to know.
"A modern LVT would replace inefficient sales, property, income, and capital gains taxes, eliminating the penalties that the state levies on people who create a successful business or build a home."
Not even close to true.
It should be obvious, but the numbers don't add up. The total value of all land in the US is roughly equal to US GDP. A 3% tax would yield (roughly) 3% of GDP. Social security and Medicare are roughly 8% of GDP. Of course, there is also defense, interest on the national debt, transportation, etc.
So the whole underlying premise of Georgism is that the purpose of land is to be exploited and taxed? And the writer proposes this as a model for us to emulate in today's world whose very survival is threatened by the results of hundreds of years of man's thoughtless environmental exploitation? Can one be any more out of touch than that?