Taxing land is taxing unrealized gains, hence it would tax billionaires. In addition, land value tax rates don’t have to be flat, so the poor have no reason to pay them.
If anything, taxing transactions hits the poor, as they don’t have the ability to borrow against assets they don’t have, and all their work (which is a transaction) is taxed.
If anything, taxing transactions hits the poor, as they don’t have the ability to borrow against assets they don’t have, and all their work (which is a transaction) is taxed.