What Would Henry George Say?
Still Relevant, Still Poignant
What Would Henry George Say?
Still Relevant, Still Poignant
By Emmanuel Saez and Gabriel Zucman
January 22, 2019
By 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.
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