From the OZ equivalent of our Taxpayers Alliance here, this version of the "it's a tax on aspiration" KLN, normally favoured by the likes of Boris Johnson.
" If we pay off our home completely we are in a more powerful position because we have greater freedom to choose whether we go to work 5 days a week or 2, whether we fill our days with activities or just reading books etc.
The proposal above(LVT) takes away that carrot.The prospect of one day paying off your house and then being free to slow down and do more of what you want, even if that’s just because you have hit retirement age, is removed if you introduce a land tax to replace all other taxes.The carrot is replaced with a stick.Imagine if there was nothing you could do to ever get off the rat race?"Our current system of funding government and paying for our housing is highly complex. No wonder David Collet and most people have difficulty in seeing the wood for the trees.If we get rid of dead weight losses, transfers of wealth, and allocational inefficiencies this must all feed into higher disposable incomes and lower housing costs for 99% of the population.It's this that gives people better choices that govern ALL aspects of their lives. Including paying off your mortgage and leaving the rat race if that's your aim in life.LVT takes "power" away from banks, landlords, bureaucrats and the top 1% and gives it back to us.Carrots, sticks and trade offs are what they want us to believe are the only options.But LVT is win-win.