When you think about it&#x27;s the perfect tax: it&#x27;s regressive (and the people in power love regressive taxes) and it effects the middle classes (and the people in power don&#x27;t care one bit about the middle classes, no-one I&#x27;ve heard of has ever said to him: &quot;My ideal in life is to improve the condition of the middle class!&quot; while I&#x27;ve heard of lots of people saying to themselves and others: &quot;I want to eradicate poverty!&quot;).<p>A land tax would be regressive because it would have a bigger effect on middle class people compared to the 1%, because for a person representing the middle class a house purchase (which includes the land the house sits on) it&#x27;s gonna be the biggest ever purchase from his&#x2F;her life, while for a hedge-fund manager worth $5+ billion an extra money that he would have to pay on his Hamptons house is a blip in the ocean.<p>You mentioned a lot of economists, but you left out J.S. Mill, who at some point was strongly in favor of proportionally higher inheritance taxes. That kind of tax wold effect the hedge fund managers a little more, and it sounds fairer to the middle classes.