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Tuesday, 12 October 2010

Martin Wolf agrees with Bearded Socialist Again Part II of many, many, many

"Taxation of property should be heavier, not lighter. But it should also be less regressive"
yep.

"Property taxes are economically desirable, though the best such tax is on site value, rather than on completed development. What makes such taxes attractive is that they bear not on effort, but on “rent” – value over and above the economic costs of production. Income tax, by contrast, bears on successful effort."
could not put it better myself

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