I'm a huge proponent of land tax. Here's why I think it's worth considering:<p>1. Economic Efficiency: Unlike income or consumption taxes, an LVT is non-distortionary. It doesn't discourage productive activities like work, saving, or investment. Land is a fixed resource; its supply doesn't change with price or tax fluctuations. Therefore, an LVT wouldn't distort market incentives, unlike other taxes. By shifting the tax burden onto land, we could potentially reduce the distortionary effects of other taxes and promote economic growth.<p>2. Wealth Inequality Reduction: Land ownership in the U.S. is highly concentrated. A significant portion of the country's land is owned by a small percentage of the population. An LVT would primarily affect these large landowners, redistributing wealth more evenly across society. Plus, land can't be hidden or moved offshore, making an LVT difficult to evade and an effective tool for wealth redistribution.<p>3. Sustainable Land Use: Many landowners hold onto vacant or underutilized land as a speculative investment, waiting for its value to increase. This leads to urban sprawl, inefficient land use, and higher housing costs. An LVT would make this kind of speculation less attractive, encouraging landowners to develop or sell their land. This could lead to more efficient land use, less urban sprawl, and potentially more affordable housing.