I am not sure I understand. The property tax in the US is the tax on land + additions, both subjects to appraised value, so yes, the rates listed do include both.
> Also the biggest effect would come from replacing income tax with land tax, as the most productive people would gain the most
How would this be sustainable for farmers or ranchers? If they have to radically increase their prices to account for new 30% land value tax, does the society benefit or lose?
> There's nothing valuable in risk.
He provided liquidity to the market when somebody was willing to sell that piece of land. If you're taxing someone for providing liquidity, the price of the underlying good will plummet, as that removes incentives for current buyers, and then you're back to square one - low tax revenues collected from land owners.
> Your argument works even better for buying a piece of a rock for a million dollars and expecting profits
People do invest in gold and silver.