If the Government does not impose a limit to Capital wealth, land prices will remain high and it will be difficult for younger generations to obtain property. An economic threshold exists whereby our spending falls below the achievable rental income from our property, and at that point we are able to constantly increase our wealth and property (if it is available for sale) without doing any real work. This is damaging to the economy, not only because, as a landlord, we now have no incentive to make a positive contribution but also because it makes land too expensive for the rest of the population. Without a land tax, property will constantly escalate in price as a greater and greater proportion of it falls into the hands of the landlord class.
Unfortunately, land is limited in extent, which means that it is possible to harm others indirectly by excluding them from natural property. It is considerate not to own too much land, but if people fail to show this thoughtfulness we have no obligation to respect their property claims.
We do not truly own land, because we have not created it. When the State sells, or makes available a piece of property they sell the recognition that they will eject other people, if desired, from the land if they trespass. The State has the right to refuse to protect the person, for whatever reason.
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