A very well done explanation of Georgism, the Land Value Tax, and the Cat can be found here:
For something shorter than that:
Georgism is the economic theory that land should be taxed heavily or entirely, while labour and capital should be left untaxed. It originates from Henry George’s 1879 book Progress and Poverty, where he argued that economic inequality and business cycles stem from private land ownership.
TLDR:
Land as Common Property – Unlike labour or capital, land is not produced by human effort. Its value comes from natural advantages and community development, making private land rents an unearned windfall.
The Single Tax – Instead of taxing wages, profits, or sales, a tax on land value (LVT) would capture unearned rents for public use while encouraging productive land use.
Deadweight Loss Elimination – Unlike other taxes, which distort incentives, an LVT does not shrink economic activity since land is fixed in supply. This makes it an efficient revenue source.
Economic Rents and Speculation – Georgists argue that land speculation drives up prices, creating artificial scarcity and pushing economic activity into suboptimal locations, worsening inequality and recessions.
Infrastructure and Externalities – Public investments (roads, transit, schools) raise nearby land values. Under Georgism, these gains would be taxed rather than funneled to private landlords.
The Tax Cannot be Passed to Tenants- The explanation as to why is in the link above.
Georgism predicts the economically stagnant and politically unstable moment we are in with high real estate costs preventing family formation and business start-ups. It also explains why wages don’t outpace cost of living increases and increasing inequality.