It would be a good replacement for the council tax from what I have heard. It could also be sued to reduce VAT which rather in Britain at the moment it seems.
LVT is not taking land from anyone. It is taxing the "value" of the land. 1 acre in rural Wales is less than 1 acre in Mayfair. The value of land is created by community activity not by the owner. LVT is reclaiming the wealth the community created. Income tax is abolished or vastly reduced, as in Hong Kong, keeping private wealth in private hands.
Currently we:
Socialize private wealth (income tax)
Privatize common wealth (allowing landowners make windfalls)
The basis of freedom is the ownership of property? If stratvic is referring to land, he will be surprised to learn that there is no such thing as absolute ownership of land. Sovereign states always keep the superior title and grant only fee simple ownership titles which gives the right of exclusive USE of land to individuals and that IS the basis of freedom. Sovereign governments always kept the right to tax land values since they are community created and a free lunch in private hands.
Property taxes are a weakening of property taxes. The right to own property is the basis for freedom.
While you will always be able to find apparently poor capital allocation choices by land owners. The incentive to get a return from land like any asset is sufficient in the majority of cases to ensure efficient asset allocation and utilization. The consequences of taxation is more government and therefore less freedom.
The cause of the economic situation is clearly not a lack of taxation.
@stratvic : No. A pund not collected in LVT is a pund to be collected in revenue tax. The revenue tax is so harmful for the economy the issues mentioned are bread crumbs beside.
But please take a picnic or two around London suburban areas and come back and explain to the rest of us, why landowners keep valuable land with old industry plants on, instead of selling it to entrepreneuring investors willing to develop the townparts? Please, do...
It would be a good replacement for the council tax from what I have heard. It could also be sued to reduce VAT which rather in Britain at the moment it seems.
Scientisticsoviet 2 months ago
LVT is not taking land from anyone. It is taxing the "value" of the land. 1 acre in rural Wales is less than 1 acre in Mayfair. The value of land is created by community activity not by the owner. LVT is reclaiming the wealth the community created. Income tax is abolished or vastly reduced, as in Hong Kong, keeping private wealth in private hands.
Currently we:
Socialize private wealth (income tax)
Privatize common wealth (allowing landowners make windfalls)
Needs reversing by using LVT
NearAbbeyRoad 11 months ago
The basis of freedom is the ownership of property? If stratvic is referring to land, he will be surprised to learn that there is no such thing as absolute ownership of land. Sovereign states always keep the superior title and grant only fee simple ownership titles which gives the right of exclusive USE of land to individuals and that IS the basis of freedom. Sovereign governments always kept the right to tax land values since they are community created and a free lunch in private hands.
ourearthhome 1 year ago
Property taxes are a weakening of property taxes. The right to own property is the basis for freedom.
While you will always be able to find apparently poor capital allocation choices by land owners. The incentive to get a return from land like any asset is sufficient in the majority of cases to ensure efficient asset allocation and utilization. The consequences of taxation is more government and therefore less freedom.
The cause of the economic situation is clearly not a lack of taxation.
stratvic 1 year ago
Comment removed
tabacdk 1 year ago
@stratvic : No. A pund not collected in LVT is a pund to be collected in revenue tax. The revenue tax is so harmful for the economy the issues mentioned are bread crumbs beside.
But please take a picnic or two around London suburban areas and come back and explain to the rest of us, why landowners keep valuable land with old industry plants on, instead of selling it to entrepreneuring investors willing to develop the townparts? Please, do...
tabacdk 1 year ago