LVT

[hal2kilo]

I really don't get why so many people don't quit being assholes and just agree to reinstate the Articles of Confederation with a few modifications that I propose.

Yea, who needs those pesky Bill of Rights anyway.

 

[Fern]

-snip-
What the hell is wrong with that?

WTH would want to own land then?

A 3% tax is just another mortgage that never gets paid off (or rent).

And we already have a R/E tax.

Fern

 

[Darwin333]

That would be able to replace all taxes, wouldn't it? I think an annual land value tax of 3% (maybe less) (possible if all land were privatized), would bring in more revenue than all the other taxes we have combined.

What the hell is wrong with that?

The only 2 problems with a land value tax are that it's a direct tax and the value of land is subjective and would be valued by the government, but I think there could be ways around that.

I would have thought that you of all people wouldn't like the idea of "renting" the property you own from the government.

I never have been a big fan of property taxes, I understand why they are needed at the purpose they serve but I don't like the idea that the government can raise your property taxes (either by directly increasing the tax or by increasing what they consider its value to be) and if you can't afford the higher taxes they can (and will) take your property.

I have a buddy whose house was assessed at twice what he could get for it, he offered to sell it to the government but the declined to buy it. They were kind enough to give him an extra month to cough up the money though. That just blows. I would much prefer an increased sales tax or something.