The gist of it is that LVT fundamentally makes no sense because land is fundamentally worthless, and so taxing based on the value of the land would simply result in either extremely low taxes that would require a meaningful decrease in state spending, or would result in mis-allocation of resources to less than efficient locations purely on a reduced tax rate, or would result in vast swaths of land being negative value since the profits that could be generated in them would not cover the tax.

Furthermore, LVT doesn't fix the underlying problem, which is that the state mismanages the earnings it receives.

So how is having even more state money via LVT going to do anything? We’re just funneling this money into whatever black hole it’s going into