Comment by greenie_beans

yes i know, that is the "theory" in a logical vacuum. that just reinforces my original point that it will hurt the middle class and only benefit wealthy people. especially since the tax would make the land cheaper (in LVT theory), so when you are forced to sell it you're gonna have to sell at a lower price than you'd like (that is the entire logic of LVT: make land cheaper to encourage more building).

you can't just wave a wand to build housing if the taxes change to LVT. we all know that developers don't build affordable housing. the margins are much more attractive to build luxury housing...it's the incentive structure. housing is expensive to build, and those investors will require an ROI.

terrible idea! the more you look at it, the worse and worse it sounds.