It is important to understand that, unlikr land/wealth taxes, even the most progressive income taxes ultimately fall on the poor. Why?
It may appear counterintuitive but the gist is that a rich person who invests in productivity, creates more jobs and dries up wages while he produces more goods and drives down prices.
Meanwhile a person who buys up land drives up the price of land. This prevents job creation and wealth production, driving down wages and driving up prices.
This prevents job creation and wealth production, driving down wages and driving up prices.
While land value tax pushes wealthy people to buy up less land and instead invest in production, income tax pushes them to do the opposite.
Taxes on natural resource consumption are in-between. Slowing the extraction of resources raises prices in the short run but lowers t.hem in the long run
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