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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Elroy who wrote (397340)	12/7/2010 8:21:00 PM
From: LindyBill	1 Recommendation Read Replies (1) \| Respond to of 793843

what's the difference between taxing land value and bank/brokerage account value? A land tax, "Georgism," has long been advocated as the fairest. "Standard economic theory suggests that a land value tax would be extremely efficient – unlike other taxes, it does not reduce economic productivity.[1] The 1976 Nobel Memorial Prize winner Milton Friedman, agreed that Henry George's land tax is potentially beneficial because unlike other taxes, land value tax does not depress economic activity by imposing an excess burden (or "deadweight loss") on the economy. A replacement of other more distortionary taxes with a land value tax would thus improve economic welfare.[4] Additionally, a land value tax would be a tax of wealth, and so would tend to reduce income inequality." en.wikipedia.org