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If we convert to a land value tax we could cut all other taxes (income, payroll, corporate, capital gains, etc.). Then with the roughly 500 million acres of non
by kemotep 2y ago
If we convert to a land value tax we could cut all other taxes (income, payroll, corporate, capital gains, etc.). Then with the roughly 500 million acres of non-agricultural private property in the United States treating every acre equally the tax rate would be $14,000 per acre to raise $7 trillion. That covers the current ~$6.7 trillion Federal budget (including the current deficit) plus a few extra 100 billion dollars to start paying down the over 30 trillion in debt.