• Fried_out_Kombi@lemmy.world
    link
    fedilink
    English
    arrow-up
    9
    ·
    7 months ago

    It also had a second rule set where a land value tax was implemented, and the winning condition was when everyone made a minimum amount of money.

    A land value tax (LVT) is a levy on the value of land without regard to buildings, personal property and other improvements upon it.[1] It is also known as a location value tax, a point valuation tax, a site valuation tax, split rate tax, or a site-value rating.

    Some economists favor LVT, arguing it does not cause economic inefficiency, and helps reduce economic inequality.[2] A land value tax is a progressive tax, in that the tax burden falls on land owners, because land ownership is correlated with wealth and income.[3][4] The land value tax has been referred to as “the perfect tax” and the economic efficiency of a land value tax has been accepted since the eighteenth century.[1][5][6] Economists since Adam Smith and David Ricardo have advocated this tax because it does not hurt economic activity, and encourages development without subsidies.

    LVT is associated with Henry George, whose ideology became known as Georgism. George argued that taxing the land value is the most logical source of public revenue because the supply of land is fixed and because public infrastructure improvements would be reflected in (and thus paid for by) increased land values.[7]

    It’s just a stupidly good tax policy, and we should be implementing it in more places.

    !justtaxland@lemmy.world