People pay 50% of their income in taxes in states like California without rioting, so I don't see why attempts to reduce rent seeking would be any different. Any income generated from an land value tax is money that can be saved with less efficient forms of taxation. IMO, this has more to do with lack of economic knowledge rather than anything else. People don't realize that making housing affordable completely opposite from making it a good investment.
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People pay 50% of their income in taxes in states like California without rioting, so I don't see why attempts to reduce rent seeking would be any different. Any income generated from an land value tax is money that can be saved with less efficient forms of taxation. IMO, this has more to do with lack of economic knowledge rather than anything else. People don't realize that making housing affordable completely opposite from making it a good investment.