Thursday, 13 May 2010
A property tax would encourage the rich to sell their land
For a Society to make the most efficient use of property, it would be best to have disincentives against excessive hoarding of property, according to the Lockean proviso. If the land is held by too few individuals then this is not efficient. Not enough people have (sufficient) property of their own. Private home and land ownership can be increased with a property tax, with a high personal allowance. High house prices prevent people from owning their own home. We cannot acquire property if there is no reason for a person to sell it which there won't be as a result of the rental income available on land. We can encourage rich people to sell their land and property with a property tax.
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