Categories

Tax-Induced Slow Turnover of Capital

PRESENT DOLLARS are heavy dollars; future dollars are light dollars. The effort of taxpayers to retard tax liabilities and advance tax write-offs follows as the night the day, and economists understand the rudiments of this game: taxes deferred are taxes denied.
The economics profession has lagged in developing capital theory and more so in incorporating it in its teachings. It is . . . → Read More: Tax-Induced Slow Turnover of Capital

Adequacy of Land as a Tax Base

More economists than not believe that land rent has superior qualities as a tax base. Their failure to push harder for focusing more of the tax burden on land stems partly from a belief that “there is no money in it.” The following journalistic passage reflects this belief: “Authorization of the graded tax would be useless, however, unless the present freeze . . . → Read More: Adequacy of Land as a Tax Base