Tech companies continue to pour into the San Francisco bay area, pushing up housing prices. This has sparked many aggressive protests. Noah Smith, an assistant professor of finance at Stony Brook University, understands how LVT would accommodate existing residents and the wave of incoming entrepreneurs alike.
“What San Francisco needs now is a Henry George Tax. The policy would bring rents down, and thus encourage tech companies and their brilliant employees to keep moving into the city, to keep interacting and mixing and generating the ideas that make the tech world go. At the same time, it would raise the money the city needs to build better trains, run more bus lines, and build more public housing that will benefit the poor and middle class of San Francisco. And it would do it all in a way that seems much more fair than other kinds of taxation.”