Land wasn't created by any individual or any corporation. (Minor, and not eternal, exception: Made Land, such as by filling in a swamp or dumping fill alongside a river. After a century or so, it stops being special, and is simply land, whose value comes from its location and the services that are provided to it.
When the companies that issue stock are paying LVT on the land they occupy, and on the finite natural resources they claim for themselves and process to sell to consumers, the value of their stock will be reduced somewhat by that "pre-distribution."
So either you need to say that LVT applies to those kinds of assets, or you need a different explanation for why land and not other assets.
Land is always in demand (the economic term being that demand is inelastic) since everyone needs it, and it is the source of all material wealth (agriculture, energy, commodities). Thus it is an effective tax.
I have yet to hear an argument for an alternative to land that is more sensible to tax.
The stock is taxed indirectly. Georgism holds that all wealth fundamentally comes from the land. This isn't completely true in the digital age but it is still true enough.
> Their heirs receive the dividends from that stock
If you tax income it never goes away. You just take a portion of whatever is there. If you tax wealth then the wealth is eventually drawn completely into the society. That's the fundamental difference. LVT is a tax on wealth.
Yeah, I think that's most of the debate right there. A bunch of us seriously question whether it is "still true enough".
OK, but why just the land? Trusts hold stock, too, that some long-dead person bought. Their heirs receive the dividends from that stock, for not having done anything whatsoever. By your logic, why should that not be taxed?
What is so magical about land, that only that should be taxed? What makes it different from all other assets?
> And recall the data on how concentrated stock ownership is.
Yes, I recall the data on how concentrated stock ownership is. The exact same logic you are using on land tax applies to stock ownership. So... what was your point?