How much revenue could an 100% land value tax be able to generate for the Indian government? So as a Georgist (follower of Henry George), I believe most form of taxation is immoral and economically inefficient except the land value tax (not to be confused with property taxes) and other pigovian taxes. However, I'm also a pragmatic person and therefore, it may not be possible to fund an entire government through these taxes alone as most Georgists believe.
That is why I want to ask how much revenue would an 100% land value tax be able to generate for the Indian government, assuming no changes in the current levels of the government.
I do realise such a tax would be difficult to practically implement due to poor land records in India but nevertheless, I'm interested to know if it is feasible in theory.
In Australia, Prosper compiled a survey of all economic rents and came to the conclusion that the Australian government could effectively be funded with rents alone.
This is without taking into account that abolishing taxes will further increase the value of economic rents, i.e. in the absence of taxation firms and households will have more net income to pay for economic rents (land, carbon, licences, fees) which further increases government revenues.
Mason Gaffney (2009) argues that all taxes come out of rents (ATCOR). According to this a tax reduction would increase rents by at least the same amount. This would imply that a government funded with taxes could just as well be funded with rents. See my question about ATCOR here.