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Of course it is pointless to try to get hardcore capitalists to buy into it, as most are more interested in maintaining the current wealth status quo than any form of justice or economic efficiency...
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Actually, the taxing land thing would make liberals nuts. Because the 3 richest people on Earth would be paying next to nothing in taxes, while Iowa corn farmers would be paying through the teeth. They couldn't actually afford to produce anything. You would have a massive disparity in taxes. Keep in mind that taxes have to be paid in cash and the mere fact you have land does not mean you are generating any cash.