An ideal LVT would tax the full economic rent of the land, but that's unlikely to happen. We don't want to overshoot 100% because that would cause land abandonment.
So in theory, LVT could collect more tax than the state needs to fund services. If that happen, it would be distributed as a Citizen's Dividend.
I am skeptical that we wouldn't be able to find a productive use for government spending, but that's a discussion for citizens of a Georgist state to have.
Also, Georgist policies would discourage the existence billionaires and other people with extreme wealth simply because a lot of their wealth came out of economic rent.
I never understood this Georgist argument. The richest people in the world today require very little land. Remote working is easily possible and plenty of companies use it, even if managers don't always like it. This feels like a medieval perspective.
Georgists aren't frozen in time, nor had they ever been limited to just taxing "land". We consider any economic "land" fair game. We even discussed network effects that allow companies like instagram retain a monopoly.
In any case, California are where some of the most powerful tech monopoly are located, and not coincidentally it's also where some of the most expensive land there is.
Just my opinion as a Georgist amongst many, I would categorize copyright and patents as non-reproducible privilege rather than economic land though non-reproducible privilege also describes private ownership of land. It's very clear that it's artificial, as ideas do not suffer from the exclusivity problem that comes with owning physical land. What IP has in common with owning land is the extraction of economic rent.
Economic land is anything that's fixed, finite, and not man-made, such as land, the electromagnetic spectrum, and orbitals.
Services like amazon and instagram are something of a puzzle to Georgists, but it's at least clear that Amazon and instagram benefits from labor and effort of the platform users. Without people selling on Amazon, there's no amazon. Without users, there's no reasons to be on instagram. To be perfectly clear, platform companies obviously put in labor to build their services, but the network effect isn't entirely of their own making.
So in theory, LVT could collect more tax than the state needs to fund services. If that happen, it would be distributed as a Citizen's Dividend.
I am skeptical that we wouldn't be able to find a productive use for government spending, but that's a discussion for citizens of a Georgist state to have.
Also, Georgist policies would discourage the existence billionaires and other people with extreme wealth simply because a lot of their wealth came out of economic rent.