> Wouldn't a better solution be to more heavily tax voluntary vices? Gambling, drugs, prediction markets
That's just taxing the poor.
That's just taxing the poor.
In fact, it would tax the industrious poor with little recourse.
Vices, on the other hand, don't have to be engaged in, and should absolutely be discouraged.
Most of these people are middle class, many are cash-poor.
Property developers are a stark minority, you know...
...And, again, without recourse. Nobody has to gamble or buy a yacht. But whether renter or owner, everybody needs a house to live in. Everybody would have to pay the LVT, one way or another, no matter how rich or how poor.
For the average landowner, the LVT is actually a sort of tax on sober industriousness or fortunate inheritance, the very opposite of a vice tax.