Robin Smith has been getting quite agitated lately by the failure of his efforts to explain Land Value Covenants to the Georgist movment at large. He’s saying that people simply aren’t grasping it (and to an extent doing so willfully). They seem quite straightforward to me.
From what I understand, the typical Georgist plan goes something like this:
1) get legislature to decree that land value will be taxed
2) get legislature to repeal taxes on employment and trade (preferably at the same time as 1)
3) maintain land value database/indexing so people are taxed the right amount
4) do something useful with the tax revenue (such as a Citizen’s Dividend)
5) the world is saved! or the country at least…
LVC’s, on the other hand alter steps 1 and 2
1) get legislature to offer landowners an irreversible deal of paying tax based on land value
2) those who accept are no longer liable for taxes on employment and trade
Before I stick my oar in on what I think of the feasibility of that arrangement, am I missing something, or do I have a sufficient grasp of what’s being proposed?