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Wealth and Want | |||||||
... because democracy alone is not enough to produce widely shared prosperity. | |||||||
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Communities are allowed to have
whatever taxes and regulations
their citizens choose. Anyone who is dissatisfied can live elsewhere.
While communities would be permitted to tax wages and interest if
they wished, they would find it attractive to do so only if their
citizens were content with such sharing. The primary source of
financing for communities would be the rental value of land and other
natural opportunities. Because the provision of a worthwhile local
public good generally raises rent by enough to pay for the good,
communities would generally be able to finance themselves with only a
fraction of the rent of land. The rest of rent could provide as
a
basic income for all. ...
Nic Tideman: Being Just While
Conceptions of Justice are ChangingSupport for those who are unable to provide for themselves would come from this basic income, from the generosity of the fellow citizens of their community, and from insurance that their parents might reasonably be expected to provide for them in a world in which all parents received justice themselves. Read the entire article This paper analyzes the
issue of compensation in connection with
the possible emergence of an understanding that land is the common
heritage of citizens, and that therefore the rental value of land
should be collected for public purposes or for a guaranteed
income.
... Read the whole article
Nic Tideman: Improving Efficiency and Preventing Exploitation in Taxing and Spending Decisions There is a proposal that tax increases be
allowed only with a
two-thirds majority of both houses of Congress. That has some
merit,
but it carries a risk of excessive deficits. It also allows the
existing level of taxation to go unquestioned. It would
probably be
better to have a rule that every spending proposal must be approved
by a two-thirds majority of both houses of Congress to be enacted.
Maybe three-fourths. If spending is truly worthwhile, then, as
Wicksell said, there is a way of financing it that will secure the
approval of nearly everyone.
The current trend toward returning functions to the states is a step in the right direction. But it encounters understandable objections that poor states cannot afford to do what they ought to do. Some form of revenue sharing is needed. But it is important to have the right definition of which states are rich and which are poor. The level of well-being in a state is determined in part by the wisdom of its public policies. States should not be penalized for adopting productive policies. Revenue sharing should equalize per capita levels of natural opportunities (mineral revenues, fishing rights, pre-development land rents, etc.) Replacing the personal and corporate income taxes with either a flat income tax or a national sales or value added tax would greatly reduce the excess burden of federal taxes. (Excess burden is roughly proportional to the square of the typical marginal tax rate.) But almost all the gains go to the rich. Perhaps the flat tax could be combined with a guaranteed income. ... Read the whole article
Nic Tideman: The Case for Site Value Rating
The Rev. Martin Luther King, Jr., Where Do We Go From Here?
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Wealth
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www.wealthandwant.com
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... because democracy
alone hasn't yet led to a society in which all can
prosper
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