It is inherently immoral to own land. Land belongs to the people of the society that controls it. No one in that society ever had the right to give it away. I agree that land owners should be reimbursed if we enter an LVT, but the idea that private ownership of land, an asset that can not be created and is inherently limited, should be allowed is frankly nonsensical. Land belongs to society, and thats why LVT is the best tax. Funding the government with the profit of the land makes the most sense.
On the Indian reservations in the US, the land isn't wholly owned by the individuals. It is kept in a tribal trust where a lot of people own slivers of the land (called land shares), and it cannot be used for things like securing loans and economic development if often redistributed through various means. There has been a lot of write ups on this over the years.
It is also the poorest and most corrupt parts of the country. Shit happens on the reservations that would even make Congress blush. If you want to see what happens when land is devalued and not ownable, look at the reservations.
It is inherently immoral to own land. Land belongs to the people of the society that controls it. No one in that society ever had the right to give it away. I agree that land owners should be reimbursed if we enter an LVT, but the idea that private ownership of land, an asset that can not be created and is inherently limited, should be allowed is frankly nonsensical. Land belongs to society, and thats why LVT is the best tax. Funding the government with the profit of the land makes the most sense.