4 ms·
I'm beginning to wonder if income tax should be done away with entirety in favour of Land Value Tax. Yes it's generally easier to track and measure income than
by spoonie 10y ago
I'm beginning to wonder if income tax should be done away with entirety in favour of Land Value Tax. Yes it's generally easier to track and measure income than land value, but maybe the tax could should do the hard thing rather than the easy thing + a bunch of loopholes. I just wonder if it's possible to find enough revenue from non-income for it to work? (Though a gradual shift, lowering income tax and increasing LVT, would make the transition easier.) Could that be "fairer" to everyone if no one paid any tax on their income?
I can think of many small-business or extra-income opportunities that are passed over due to the burden of filing that income (not even the cost of tax itself!). Then again, there is still sales tax/VAT that can be a burden (e.g. VATMOSS).