> The vast majority of economic value created does not require land and would go un taxed. The vast majority of value comes not from land or the raw materials derived from land, but from Human labor used to convert the raw material into Goods, or pure services.
The value gets created by human labour but it ends up captured by landowners. I believe there's an economic theorem to that effect, but it's also pretty clear in Silicon Valley: some new innovation increases productivity, workers and investors get paid more, rents go up and all the gains end up in the pockets of San Francisco landlords.
> It's also much more regressive than the current system. People like Elon Musk make a million times more than your average person, but they don't use a million times more land or eat a million times more hamburgers. Most of what the rich purchase is labor and human compute.
In theory I take the point. Do those people actually pay a million times more tax under the current system though?
The value gets created by human labour but it ends up captured by landowners. I believe there's an economic theorem to that effect, but it's also pretty clear in Silicon Valley: some new innovation increases productivity, workers and investors get paid more, rents go up and all the gains end up in the pockets of San Francisco landlords.
> It's also much more regressive than the current system. People like Elon Musk make a million times more than your average person, but they don't use a million times more land or eat a million times more hamburgers. Most of what the rich purchase is labor and human compute.
In theory I take the point. Do those people actually pay a million times more tax under the current system though?