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Georgism - Wikipedia
en.wikipedia.org
I came across Georgism today as I was lost in Wikipedia hyperlinks, I consider myself grounded Libertarian but a lot of Georgism feels sensible to me. Basically instead of relying on our labor being taxed as it is now there would be a "Land Value Tax." Here's a nice snippet Wikipedia includes by the inspiration of "Georgism" Henry George.
"The tax upon land values is, therefore, the most just and equal of all taxes. It falls only upon those who receive from society a peculiar and valuable benefit, and upon them in proportion to the benefit they receive. It is the taking by the community, for the use of the community, of that value which is the creation of the community. It is the application of the common property to common uses. When all rent is taken by taxation for the needs of the community, then will the equality ordained by Nature be attained. No citizen will have an advantage over any other citizen save as is given by his industry, skill, and intelligence; and each will obtain what he fairly earns. Then, but not till then, will labor get its full reward, and capital its natural return." — Henry George, Progress and Poverty, Book VIII, Chapter 3
Frankly the one thing I agree with the far left on is that no one can truly "own" land, how can you say part of the Earth is yours? Now I'm definitely not for the full redistribution of land like a communist would, because there's no way we can ever fairly redistribute land. And if you have land which you're using to take resources out of it well part of it should go back to rest of the public because while you may have made that business you did not literally make that oil. No the right to control it has to be bought and sold. But to have taxes be based more around the ownership of land feels fair to me. According to an old WaPo article 100 wealthy families now own nearly as much land as that of New England, and good for them but in my humble opinion you should pay up if you want to horde so much property. I think it's better to tax on this then tax one's wages which really hurts the working & middle class and taxing capital results in people being discouraged from saving money & also finding loopholes to hide it.
Over in California it's the total reverse of Georgism, the well-intentioned but poorly designed Proposition 13 made it so that families can hold onto their houses but only pay a fraction of property tax. It has made it so that you have assholes now just renting out their nice houses and just not selling so the housing market is ridiculously high. Keep in mind it's the 3rd Largest State with plenty of livable land. It should not be so expensive to live in the Golden State.
I feel if this political theory was employed it could be very beneficial to the United States. A lot of smart people were Georgists, most notable includes Winston Churchill, Albert Einstein, Henry Ford, Leo Tolstoy, and Frank Lloyd Wright. It's sad to me that it seems no one argues anymore to tax land. Especially when we have massive conglomerates just buying up land because it simply holds few drawbacks.