14288Re:Total land rent?
- Nov 12, 2012RL: "The Fed, remember, was the genius that totalled up the value of all corporate-owned land in the USA and found it was NEGATIVE."
JDK I don't recall seeing that. the one paper only said that some land could have negative value. And it simply was suggesting that theoretical models should not have constraints that the value of any particular parcel must be positive. But maybe we are referring to different papers. give cite.I thought Ed estimate of land value (not land rent value) might be low. So I tried to provide a survey of literature. All you did was say it's a low estimate and do a critique of what's out there but provided no actual data nor brought anything useful to the table.Land value tax skeptics (even open minded ones are going to want to see some data and analysis - so any serious land tax promoter has got to know what is out there and provided support for some alternative analysis of what the "base" for taxation is.)
As to 6.4 trillion, the rent suggested by HGT for the US; yes HGT is a theory for the ideal, but it is a useful starting place. That you can show (or assert) that the 6.4 trillion spent by government at all levels annually in US last year is wasteful and corrupt spending does not mean that 6.4 trillion could not be spent usefully and non-corruptly. So it seems to me that it is still a good starting figure. And is certainly a way to test any proposed figure like Ed's or anybody else;s figure.If we use Ed's figure for land value (which I agree seems low but who knows) then all government (in aggregate would have to levy a lvt of 53% of value. That's the kind of number that makes people do a spit take with whatever they are drinking. We(my two wage earner family of 3) couldn't afford to pay that much of our assessed land value (which you say is too low) per year. We just wouldn't have the income to cover it. I'm not sure even a UIE is going to help me on that one.As to assertion that most of the Total VALUE of land is in residential land, I am skeptical about that on a national basis. It isn't true in Baltimore City.JDK
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