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Working GroupsFred FoldvaryThe abolition of slavery had a similar issue, and rather than free the slaves gradually, or make the former slave owners lose all what they paid for slaves, some governments paid the former slave owners and freed all the slaves immediately.My recollection from reading is that Taiwan instituted land reform by paying bonds to the former title holders. The bonds would be provided to those who have a net loss from the shift to LVT, net of the other taxes that they no longer have to pay. The great increase in productivity from the elimination of taxes on wages, profits, and sales, would increase the economic rent and enable the goverment to pay the bond interest and still have net revenues. The bonds could be structured to pay less and less interest over time until they expire. Instead of gradually increasing the LVT payments, gradually decrease the interest on the bonds. This is not a new idea. The 19th-century economist Leon Walras advocated a similar bonds policy.
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http://www.earthrights.net/wg/ff.html