Submitted by ToffeeFever t3_10oqjg4 in Pennsylvania
WikiSummarizerBot t1_j6h0u2u wrote
Reply to comment by Illustrious_Air_1438 in Want growth in Erie? Cut taxes on homes and jobs, hike taxes on land instead by ToffeeFever
>Georgism, also called in modern times Geoism, and known historically as the single tax movement, is an economic ideology holding that, although people should own the value they produce themselves, the economic rent derived from land—including from all natural resources, the commons, and urban locations—should belong equally to all members of society. Developed from the writings of American economist and social reformer Henry George, the Georgist paradigm seeks solutions to social and ecological problems, based on principles of land rights and public finance which attempt to integrate economic efficiency with social justice.
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IamSauerKraut t1_j6hszd0 wrote
If I produce income (on which I am taxed) and I buy land with that income, am I not owning the value of what I have produced? Why should I be taxed a second time on that?
avo_cado t1_j6ht7nv wrote
Did you make the land?
IamSauerKraut t1_j6hy0ng wrote
The land is not the product. Rather, the land is purchased with the product I make (income which is taxed), so I should not face a double tax on what is mine.
hic_maneo t1_j6inlg6 wrote
In a true LVT situation, your income would NOT be taxed, only the Land if you choose to purchase it. So you would not be double taxed.
IamSauerKraut t1_j6k6mbc wrote
Theoretical bs, imho. How can I build my house if I do not own the land upon which I seek to build it?
hic_maneo t1_j6kot36 wrote
…but you do own it. You bought the land, and you can do what you want with it as long as you can afford to pay the tax. How is that any different from any other tax? This isn’t really an outrageous concept.
IamSauerKraut t1_j6l0vc6 wrote
Under the current property assessment scheme in PA, we already pay tax on the land.
Illustrious_Air_1438 t1_j6lz2jk wrote
A land value tax would replace the existing property tax, and only tax the value of the land itself, not any buildings or other improvements.
IamSauerKraut t1_j6mz7tq wrote
>only tax the value of the land itself, not any buildings or other improvements.
In other words, the guy who can only to afford to live in a trailer now would be taxed at the same level as a guy who can afford to put a mansion upon his property?
Still seems like a dumb idea that needs much more thought.
AbsentEmpire t1_j6kp3vm wrote
I think you missed the single tax aspect. Under such a system your income would not be taxed.
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