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Notes -
Apparently the UK's entire net worth was £10.7 trillions in 2020 according to the ONS, their chief statistic agency. What's remarkable is that a whopping 60% of that is "non-produced, non-financial assets".
That's a fancy way of saying land. Why isn't this fact more well known? Should we expect it to be different for other countries? And why aren't more people talking about Georgism?
Because Georgism remains a bad idea with a weird appeal to a small subset of smart people? Essentially, there's no difference between Georgism and the government owning all the land outright.
There is a vast difference - the government already owns all the land, it is just taxed in a different way. Georgism isn't changing ownership of the land, it's changing the way the government taxes the land.
I think this strikes at the root of the issue, and it's something many seemingly misunderstand. I have respect for people who want a low-tax regime as possible, but even there you can replace a lot of taxes with a LVT, so in some instances the cumulative tax burden could even be lower than before. High taxes are not in themselves a goal worthy of striving to, but tax efficiency is, even if it happens to land a lower level than before.
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