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Should tax land more and income less. Income from work is at least productive, owning land is not. #Georgism
by klipt 2y ago
Should tax land more and income less. Income from work is at least productive, owning land is not. #Georgism
- elzbardico 2y agoInheritance and donations should be strongly progressively taxed.
- eikenberry 2y ago> and donations What do you mean by donations? A 'donation' is the typical way to refer to giving money to a charity. Are you saying that charitable donations should be taxed?
- elzbardico 2y agoI mean gifts, a common way of evading inheritance taxes accross the world.
- eikenberry 2y agoThat makes sense, thanks.
- DFHippie 2y agoI'm guessing they are a non-native speaker of English and meant gifts.
- elzbardico 2y agothanks, exactly.
- theamk 2y agohm... so a tech startup making millions in profits (tiny office for 10 people) should pay less taxes than a grocery store that barely breaks even? I am not sure I'd agree.
- s1artibartfast 2y agoExactly the problem with georgism. It was conceived in a time when all wealth arose from land, and doesn't account for a service or knowledge economy. The ultra rich don't get that way from accumulating land, they accumulate intangible contracts and earning rights, 1s and 0s on a server. The only answer I have heard from georgists is that the costs would would be passed from all of the teachers, farmers, and laborers to the ultra rich. If that that were true, we could just replace everything with a sales or value added taxes. I find that georgism appeals to a segment of people who are entirely preoccupied by urban real estate prices, and haven't thought through the implications for the broader economy
- bee_rider 2y agoApparently “land” in the economic sense covers more than just the physical ground. https://en.m.wikipedia.org/wiki/Land_(economics) https://en.m.wikipedia.org/wiki/Land_(economics) > Examples include […] and portions of the electromagnetic spectrum. Supply of these resources is fixed. I even saw some folks argue that IP should be considered a form of land, although I’m not sure if this is a real opinion or some very-online-economics silliness. Anyway, maybe worth looking into. — > If that that were true, we could just replace everything with a sales or value added taxes. I don’t see how this really follows. Land value is more like a wealth tax than an income tax, right? In the sense that it taxes something held, rather than inflow/outflow.
- s1artibartfast 2y ago>I don’t see how this really follows. Land value is more like a wealth tax than an income tax, right? In the sense that it taxes something held, rather than inflow/outflow. I agree it is on possession, or something held. The proposition follows not from that property, but the idea that taxes would "trickle up". The idea that it doesnt matter if warren buffet no little land, because taxes levied on farmers and renters would pass on the costs. Land is much more evenly distributed than wealth and income. Similarly, consumption is much flatter than income.