I don't see how this would be beneficial. What would the incentive to ever sell land or do anything productive with it? Unlike fiat currency land is finite. Bill Gates and blackrock could buy up land and homes non-stop. Gates could turn around tomorrow and then cease to farm it creating food shortages. In this case a progressive land tax is the only progressive tax that would make sense. It would keep the wealthy from gobbling up huge swaths of land leaving the poor with no stake in the country they were born in.
I don't see how this would be beneficial. What would the incentive to ever sell land or do anything productive with it? Unlike fiat currency land is finite. Bill Gates and blackrock could buy up land and homes non-stop. Gates could turn around tomorrow and then cease to farm it creating food shortages. In this case a progressive land tax is the only progressive tax that would make sense. It would keep the wealthy from gobbling up huge swaths of land leaving the poor with no stake in the country they were born in.
If you're worried about that a simple solution would be to do something like eliminate property tax on a person's primary residence.
That would be a partial solution.