"allow anyone else to buy any of those assets for the declared value"
How would this work?
How would this work?
Private ownership would become impractical for the hoi polloi.
The wealthy would need to pay a new class of bureaucrats to keep asset values up to date, to continuously incorporate new information into their marks. Everyone else would be better off renting--owning a car would be risky as it could be snatched from you at a moment's notice due to an overnight shift in the metal markets.
Remarkably similar to a feudal system, actually.
EDIT: What am I thinking, you'd just move all your financial assets overseas and maintain as little real property as possible domestically. The same thing folks do in the Gulf countries where the monarch gets stealsy from time to time.
Lets say any item worth over $10k (including cars, land, houses, companies, etc) would be part of the system.
Another way of looking at it is "all items in the nation are always for sale, and if you don't want to sell you better choose a high price".
Obviously if you don't want your stuff taken, declare a high value. But you'll pay a bit more tax for the privilege.
Just like a car dealer changes the sticker prices on his cars every few days,
this is ridiculous
So Bob is not only out a car, but down $1,800k to boot?
This would ensure that people's labor and their bodies would be put to the most efficient economical use as well as increase tax revenue.
It would also solve the problem of undercompensating of workers. If your employer values your experience and knowledge, they would have to pay a premium for it, otherwise a competitor would buy you out from under them.
Lots of people hoard their time, spending it with friends, family, and children. This would force that time and labor into the market, where it could be taxed and contribute to social good.
A woman reading a book or singing to their child creates no taxable income, and doesn't contribute to GDP. Under the current proposal, If She didn't pay sufficient income tax on the time she selfishly hoards, a company like hooters could buy her and put her labor to more productive use.
Sounds like a bonanza for developers.
Like, 99% of the activity under such a mechanism would be transfers of financial assets.
This should completely replace income tax. Copyright terms should also be 10 years, maybe 15 max. Patents could probably stay as is, but I don’t see any problem reducing them too.
Sure. This is a totally different proposal.
Would note that you could go a long way to making this proposal electorally appealing by exempting primary residences. (In my experience, the assessed value of a home is at best loosely related to its market value.)
The number one waste of space in the US is people’s excessively large footprint, causing enormous consumption of energy and infrastructure costs that are borne by future generations.
All these detached single family homes on 0.1+ acre lots are massively expensive and the people living in them hardly pay taxes proportionate to the benefit they receive from the government. Instead, our society takes from the working class via income tax.
If you want to live in a detached home on a large lot, be ready to pay the appropriate land value taxes.
If you want to conserve and use less of society’s resources, live in an apartment building.
Since the tax formula would be a power law function, it would inherently not be punitive to the vast majority of Americans who don’t live on outsize plots of land.
Massively needing a source.
> it would inherently not be punitive to the vast majority of Americans who don’t live on outsize plots of land
DOA. Partly due to the electoral college. Partly due to American optimism and aspiration. Perfect is the enemy of the good.
Physics.
Energy = acceleration * mass * distance.
The more stuff you move further distances, the more energy you need.
Obviously, more people living in a square mile will use less energy per person than fewer people living in a square mile.
Think about all the energy needed to move water/sewer/trash/gas/police/ambulances/etc in and around a neighborhood where 100 people live in a Barcelona style communal living versus 100 detached homes on 0.1 acres each.
The huge knock on effects of the latter is that it then necessitates personal vehicle transport, which then compounds into more space being needed for huge arterial roads and highways, which then makes neighborhoods unwalkable, further necessitating personal vehicle transport, and so on and so forth.
> DOA. Partly due to the electoral college. Partly due to American optimism and aspiration. Perfect is the enemy of the good.
I’m under no illusion, but I also don’t see a need to inconvenience myself with half measures if my countrymen are not willing to do what is necessary.
Zoning, however, is the mutandis. LVTs absent zoning reform would not be expected to change much in cities. Zoning reform absent LVTs would spark a systemic boom in densification.
Zoning reform and LVTs are thus orthogonal, with the scant interaction being almost entirely defined by the ratio of unbuilt structures due exclusively to zoning or land hoarding. I asserted that ratio is close to one, due to ample evidence for the former. I asked you for evidence of the latter; "physics" is not a response.
> I also don’t see a need to inconvenience myself with half measures if my countrymen are not willing to do what is necessary
This is, by definition, extremism. It's generally seen as a red flag, communicating lack of commitment and/or dogmatic delusions.
Yes, but exempting homes from LVTs would counteract some of the incentive for densification. I would even go so far as to say excessive space for homes (which goes along with infrastructure that prioritizes cars) is causing knock on effects like kids not being able to roam around outside, and hence causing having kids to be a bigger burden, and so on and so forth.
>Zoning reform absent LVTs would spark a systemic boom in densification.
I would challenge this assumption, as many people prefer suburban quality of life that depend on not living in densely populated communities. Could be from simply preferring more space for themselves or their cars to being in school districts with higher proportions of kids from richer parents.
>I asked you for evidence of the latter;
I am not sure what you are referring to by former and latter here, but when I mean "waste of space", I mean front a big picture view in terms of resource/energy consumption on a societal level as well as knock on effects of sedentary lifestyles, less interaction with neighbors, and so on.
Physics is the answer to the resource/energy consumption part of why it is a "waste of space". If the goal was to ever meaningfully reduce emissions or consumption of various resources, then it would have to involve denser communities.
I would say that both zoning reform and LVT is necessary to accomplish broad reform.
>This is, by definition, extremism. It's generally seen as a red flag, communicating lack of commitment and/or dogmatic delusions.
Unfortunately, my conclusion from observing humanity so far is that it is extremely difficult to reach consensus when the decision involves lots of short term individual sacrifice in exchange for long term societal benefit. I would say that my hopes now lie with technological progress, rather than say, paper straws or recycling plastics, as those seem to be distractions meant to placate.