General wealth taxes are bad because they punish creators of productive assets. However, we can address one major negative cause/consequence of inequality - rents eating all personal income - by instituting a land value tax. Land is one type of wealth which does not exist due to anyone's effort and needs no incentive to create. Furthermore, it will not flee the country if taxed at a 100% rate. The proceeds to land value belong to the community, and a LVT could drastically help ameliorate the expense of shelter as most rents go towards paying a premium for location.
Technologists are well suited to advocate for a land value tax because unlike other industrialists, land and natural resources are only a cost to us, and we possess capital in abundance.
Technologists are well suited to advocate for a land value tax because unlike other industrialists, land and natural resources are only a cost to us, and we possess capital in abundance.