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National wealth tax on land (unimproved value only), public goods (electromagnetic spectrum, mineral drilling rights, carbon emissions), network effects (includ
by nostrademons 6y ago
National wealth tax on land (unimproved value only), public goods (electromagnetic spectrum, mineral drilling rights, carbon emissions), network effects (including brands, communication networks, and marketplaces), and IP (patents/copyrights/trademarks).
It's highly progressive: the average person owns zero of these things, and so would pay zero tax. It causes virtually no deadweight loss or economic distortion: the supply of these goods is heavily inelastic, in many cases totally inelastic, and so a tax will not disincentivize firms from producing more. And there's even a moral argument for it: these goods exist out there, in the natural realm, and so when somebody "owns" them it doesn't mean they created them through their own labor, it means that the government has granted them a monopoly to develop and use them, and the government should be compensated for enforcing that right.