I think LVT does have a history in US, e.g Pittsburgh.
Also Georgism is 100% LVT -> A land tax alone has been the recommendation of many economists before and after George - From Smith, Riccardo, Mill to Friedman. Across classical, neoclassical, Keynesian, Austrian schools. If there's one thing economists can agree on, it's that land tax is better than income tax.
You can say that land tax might be better than income tax but it's hard to argue that both land tax and income tax is better than just income tax. This is the biggest reason why new tax modalities are considered unworkable.
We already have property tax + income tax, and property tax is land value + value of improvements. From TFA, the immediate proposal is just allowing the property tax to assess the land value and value of improvements at two different rates, with the rate on improvements decreasing to remove incentives against improvements.
It should! The public (through taxes) shouldn't be forced to subsidize the cost of a parking lot. If the parking lot was valuable to the market, the opportunity cost of the land not being used for some other purpose would be priced in (either through consumers paying more for parking, or businesses subsidizing the cost for consumers as it's profitable for them to do so). Parking lots paying lower property taxes subsidizes economic inefficiency.
skew-aberration · · focus · HN ↗
Also Georgism is 100% LVT -> A land tax alone has been the recommendation of many economists before and after George - From Smith, Riccardo, Mill to Friedman. Across classical, neoclassical, Keynesian, Austrian schools. If there's one thing economists can agree on, it's that land tax is better than income tax.
mohamedkoubaa · · focus · HN ↗
comnetxr · · focus · HN ↗
hdgvhicv · · focus · HN ↗
1d22a · · focus · HN ↗