Georgism: Difference between revisions

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.

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.

Georgists also believe that a Land Value Tax would put down rents and housing costs. Since unused space would be taxed, landlords and developers would have an extra incentive to create more housing on said unused space, which would increase supply and lower prices.

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).