Exactly. When land is taxed correctly you can no longer sit on it and demand ren...

AstralStorm · on Dec 10, 2016

What would prevent you from building a skyscraper then renting it out? Tax is still suppressed.

And only rich can afford such an investment.

branchless · on Dec 10, 2016

You build the skyscraper and capture the value you add. You made efficient use of land therefore you win. That's the point.

It's about stopping people doing no work and deriving economic value. It's not about stopping economic progress, nor is it about stopping people retaining the value they add. Quite the opposite.

lordnacho · on Dec 10, 2016

That's right, and economically efficient.

Interesting question though. What about land that is reclaimed from the sea, or land that requires investment in order to not fall into the sea?

Such land cannot be said to exist independent of someone's efforts, and we could not make such arguments.

branchless · on Dec 11, 2016

Land reclaimed by the sea? Hardly a pressing question. I'll pass, thanks.