Monday, 4 February 2013
Do we really need land value taxation?
A Telling Silence
I love the way this article portrays landowners has having accumulated all these lost billions. But of course there are no lost billions. Nobody has pocketed billions of taxpayers money. What is happening is that LVT supporters are imagining how much money the land is making, so they go on to accuse the landowner of hogging all this imaginary money, and they get all worked up and angry about it. And then they want you to get all worked up and angry about it too.
I mean, is it really the landowners' fault that somebody decided to build the Jubilee Line in their backyard? Maybe they didn't want the Jubilee Line. They might even decide to sell the land and move elsewhere. This then is the perfect opportunity for the government to step in and slap on a tax. A tax which is applied to real money, real money that one can let slip between their fingers, and comes from an actual profit being made; a tax which can quite happily reflect upon the capital gains made by a landowner over time, and deduct monies accordingly.