Clay Shentrup said: “Well, it is at least “arbitrary”. It falls on the shoulders of people who happen to own land over those who happen to own silver, or gold, or dairy cows, or any other asset other than land.”
LVT is not arbitrary — it is based on the concept of the unearned increment, and thus has a firm moral basis to go along with it’s purely economic advantages.
Oh, and if I buy gold or milk, the price I pay will reflect the LVT the producer pays.
Clay Shentrup said: “It’s random because any future owners of that land effectively don’t have to pay the tax.”
Nonsense. LVT is basically an annual rental charge paid to the community.