It destroys incentive for speculative behavior on land. LVT increases density, reduces infrastructure costs, vastly increases distribution of housing. It increases the incentive to use the property and or improve property on the land. Property, houses, buildings etc are not taxed, the land below it is. It is extremely pro environmental, even pro business. It’s implementation is simple. It’s pro the 99 percent and harms owners of large parking lots in urban dense areas (the poorest use of land and essentially a speculative hold).
lime@feddit.nu 20 hours ago
most speculation today isn’t on land though, it’s on value itself. like, trillion-dollar software companies use very little land compared to their value. elmos riches aren’t bound up in land, it’s all stocks.
i feel like i’m missing a step.
mogranja@lemmy.world 19 hours ago
I see what you mean. But if I have my house on my land, and enough income to provide reasonably for me and my family, what do I care about their imaginary money games?
lime@feddit.nu 18 hours ago
because as long as money is involved in your existence those games still decide whether your income is decent. the speculation economy decides the cost of wares and services, the worth of land and currency, and the political decisions that may change the way all those things develop in future.
also, presumably, because you don’t want to see others suffer.