WHAT WOULD HENRY GEORGE SAY?

Still Relevant, Still Poignant

ANALYSIS

Alexandria Ocasio-Cortez’s Tax Hike Idea Is Not About Soaking the Rich

By https://www.nytimes.com/2019/01/22/opinion/ocasio-cortez-taxes.html

January 22, 2019

What Would Henry George Say?

By Dr. Marty Rowland

AOC is radical and that is OK. However, she is not radical enough; not as radical as Henry George was. In Saez and Zucman’s article on AOC, they make a good case for higher marginal tax rates to address inequality of wealth distribution. But to do that is like using a meat cleaver to chop a cocktail wiener. There is a huge difference between wealth created from rent seeking (speculation) and honest capitalist profit. There is plenty of wealth to be had squeezing ground rent out of the economy in a bustling metropolis without any need to tax incomes. So should the marginal tax rate be 90% or 0% for incomes? I say 0% but collect 100% of ground rent. Reward productivity, give everybody an immediate 30% boost in wages, and pay for needed infrastructure.