Granted I think LVT is kind of dumb too (saying this as a communist, fyi). I think the incentives it sets up are interesting and could make sense in a lot of cases in a market system, however short of a country run by an oligarchy of economists, it seems to me nobody would willingly turn over their property so such a system. Also, I can't help but think about how value assessment would actually work...seems it would be an easily corruptable process.
Yeah, praised by socialists like Milton Friedman.
Granted I think LVT is kind of dumb too (saying this as a communist, fyi). I think the incentives it sets up are interesting and could make sense in a lot of cases in a market system, however short of a country run by an oligarchy of economists, it seems to me nobody would willingly turn over their property so such a system. Also, I can't help but think about how value assessment would actually work...seems it would be an easily corruptable process.