In my opinion the least bad tax is the property tax on the unimproved value of land, the Henry George argument of many, many years ago’ Milton Friedman (1912-2006): American economist and Nobel laureate.
‘The economic case for a Land Value Tax is simple and almost undeniable. Why then do we not have one already? Why hasn’t it been adopted widely in the western world? Even more puzzling is that, right now, as western economies struggle with the global financial crisis, why isn’t this form of taxation being seriously considered as an alternative?’ Sir James Mirlees (1936-2018): Nobel economics Laureate. Continue reading