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Sure, but

A) that's an argument against a 100% LVT, not against LVT. Some people (communists) also advocate very seriously for what is effectively a 100% income tax. That doesn't provide a good argument against income tax in general.

B) a 100% LVT would theoretically be equal to the rental value of the property each year. You as the owner would still be seeing your net worth increase. It's not like you're paying the entire value of the land as a tax each year. Such a scheme would essentially just undo all real property ownership.



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