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I agree, and so do many economists: https://en.wikipedia.org/wiki/Georgism https://en.wikipedia.org/wiki/Georgism The distinction is that mere ownership of ca
by sooheon 9y ago
I agree, and so do many economists:
https://en.wikipedia.org/wiki/Georgism https://en.wikipedia.org/wiki/Georgism
The distinction is that mere ownership of capital, especially common goods (such as land and natural resources) excludes other members of society from access to that resource. It does not create value, but merely holds claim to existing value, seeking rent for allowing others access to it. This should be taxed. OTOH, productive activity takes that capital, adds labor and ingenuity, and creates goods or services which benefit society--such activity should be taxed less, or not at all.
- WalterBright 9y agoI'd go further and tax destructive activities, such as polluting or consumption of finite resources, instead of productive activities.
- jaggederest 9y agoThis is why I'm disappointed with the current-era Republican party. There are so many things that could be solved with true market-based solutions - for example, carbon markets and other major externalities. But nearly everyone would rather ignore evidence-based solutions for ideologically correct ones.