Georgism: Difference between revisions
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=== Consequential Arguments === |
=== Consequential Arguments === |
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Georgists believe that implementation of a Land Value Tax would help with problems such as [[w:Speculation|Speculation]] and undeveloped land, |
Georgists believe that implementation of a Land Value Tax would help with problems such as [[w:Speculation|Speculation]] and undeveloped land, and would allow us to cut down on other taxes. |
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Georgists believe that because an LVT taxes unimproved land, Land Hoarders who just buy land and wait for it to become more expensive as time goes on without improving it will be |
Georgists believe that because an LVT taxes unimproved land, Land Hoarders who just buy land and wait for it to become more expensive as time goes on without improving it will be taxed on the value of that land completely, giving them no profit. And because landlords have an incentive to make money, they’ll have to actually develop and improve their land. |
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And because the LVT's main purpose is to tax unimproved land, a landowner whose property is underdeveloped will be paying more in taxes, giving him or her an incentive to improve their land. |
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⚫ | And of course because it inherently put money into the government, Georgists believe that this money should be redistributed to the people in some way. Originally, Henry George believed that an LVT would be able to abolish all other taxes<ref>https://www.econlib.org/land-taxes-the-return-of-henry-george/#:~:text=George%20proposed%20to%20tax%20away,building%2C%20would%20not%20be%20taxed.</ref>, as well as providing Public Transportation and a UBI, but most Georgists think his belief was unrealistic. Most Georgists believe that an LVT could replace current property taxes, cut other taxes, and perhaps still increase revenue when combined with similar measures such as taxes on negative externalities (which Georgists near-universally support). |
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⚫ | And of course because it inherently put money into the government, Georgists believe that this money be redistributed to the people. Originally, Henry George believed that an LVT would be able to abolish all other taxes<ref>https://www.econlib.org/land-taxes-the-return-of-henry-george/#:~:text=George%20proposed%20to%20tax%20away,building%2C%20would%20not%20be%20taxed.</ref>, |
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In short, Georgists believe that a Land Value Tax would be able to cut rents, end Speculation and lower taxes. |
In short, Georgists believe that a Land Value Tax would be able to cut rents, end Speculation and lower taxes. |