People don't like land value taxes for the same reason the anti-property-tax movement is in the news these days: It reverses 100 years of pro-homeownership messaging, and it turns landowners into renters from the government.
Wouldn't a better solution be to more heavily tax voluntary vices? Gambling, drugs, prediction markets, cash-sink "luxury" products, parasitic mobile games, etc.? I think it's fine by just about everybody if those particular industries -- the real "bad capitalism" -- become almost unprofitable by default.
The secondary layer of "bad capitalism" is in finance, speculation, and even legal services. There's no reason that those, also, cannot be much more heavily taxed.
At the same time, do the extremely smart thing that Asian economies -- China and Korea foremost among them -- have been practicing: Subsidize technical and industrial innovation, strategic industries, etc. Just cut the red tape and fund it.
Wouldn't a better solution be to more heavily tax voluntary vices? Gambling, drugs, prediction markets, cash-sink "luxury" products, parasitic mobile games, etc.? I think it's fine by just about everybody if those particular industries -- the real "bad capitalism" -- become almost unprofitable by default.
The secondary layer of "bad capitalism" is in finance, speculation, and even legal services. There's no reason that those, also, cannot be much more heavily taxed.
At the same time, do the extremely smart thing that Asian economies -- China and Korea foremost among them -- have been practicing: Subsidize technical and industrial innovation, strategic industries, etc. Just cut the red tape and fund it.