You can tax certain things a certain amount and you get diminishing returns. For example, if you had a 50% wealth tax, it would stop collecting anything pretty quickly and would cause pretty big economic disruption.
Land value tax has the potential to collect a lot of money with less disruption.
There's like $20 trillion worth of capitalized land value in the USA. That could mean like $1 trillion a year on-going assuming 5% discounting. Land rent is a perpetual stream of wealth.
There's only $8 trillion billionaire wealth. So already 5%/year would be less. And there's a huge incentive and ability to avoid it by moving.
And I rarely ever even hear suggestions for wealth tax rates around 5%. So then if you had a wealth tax, well land is wealth, and you'd be leaving a ton on the table as you could still have the land value tax at 5% of the capitalized value.
That money could be spent on public services that poorer people will benefit from more like transit, schools, or even local hospitals and subsidized healthcare. A typical point by LVT supporters here is that these services have the impact of raising land rents.
Most taxes have this dynamic:
tax -> invest in public services poor people use -> land rents go up -> land owners benefit
LVT has this dynamic:
Tax land -> invest in public services poor people use -> land rent goes up -> tax land more so land owners don't benefit
Landlords, developers, builders etc. should earn the return on the constructed housing, not the land.
> There's like $20 trillion worth of capitalized land value in the USA. That could mean like $1 trillion a year on-going assuming 5% discounting. Land rent is a perpetual stream of wealth.
Leasing the land of the US? That's your big revelation?
listen to the other commenter, fixing it means reducing wealth disparity.
And what is a reasonable level? And what evidence do you have that LVT can't achieve that? Maybe LVT creates such an increase in productivity it creates a virtuous cycle where land values increase so LVT increases and we can pay for so many public services and subsidies for the poor.
Idk but saying it's fixed when it's reasonable is really not answering the question.
I don't have exact numbers for what "a reasonable level" is off hand, but "a heck of a lot lower than now" would be a great start.
Again, the onus is on you to describe a mechanism by which abolishing most forms of taxes will drastically reduce wealth discrepancy. I'm not arguing against LVT, you're the one who's arguing against everything that's not LVT.
Tell me where I argued against everything that's not LVT lol
Again strawman and false dichotomy.
I can't help if you think LVT wouldn't reduce the disparity sufficiently. I'm saying that it's possible it does. I outlined the process how. You don't accept it that's fine. But I do think a big LVT would make a heck of a difference.
Again, that doesn't mean I'm against every and any other tax that could also make a difference.
What I understand is that by doing this it seems like profit will shift to chip makers,as we'll run more models locally, and currently American companies have the advantage here.
So what would the long game be for chinese companies?
Nah, but thanks. I actually spent a lot of time checking out Takeout, shell scripts, and existing options before writing a single line of code for the app.
Non-technical users don't want to deal with mbox files no matter how many scripts someone recommends. And shell shells scripts...
I made this to bridge the gap. I wanted a utility that handles the protocol mess locally, avoids downloading gigabytes of metadata, skips the cloud, and just gives you your own photos back.
Only thing is they aren't clear on the SOC2 certification. Am I being naive?
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