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View Diary: Exposing the Fiction of Low Tax States (37 comments)

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    Remember, I did advocate for a LAND Value Tax - one that is based entirely on the land, regardless of what is built on top of it.  If you look at that, it's easy to see the incentive to develop land that is taxed, since you'll be able to keep 100% of the profits from, say, a new residential or office building, and the disincentive to merely squat on vacant land until prices improve.
    The latter situation is what you have now, and it is the reason why there is so much vacant or underused land, even in crowded cities.  Even NYC has 16% vacant or unoccupied (i.e. vacant buildings just sitting there) land.
    LVTs have a long and terrific history of revitalizing cities wherever they've been applied.
    Income, Capital Gains, and Sales Taxes are all either unreliable or regressive against the poor (who spend a much higher percentage of their income on necessities than the rich, who save and invest).
    Florida, like California, taxes things that go boom and bust, instead of things that have fairly consistent value (or would if they were consistently taxed to take the fuel out of speculation), like Land.

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