My simple Pro-LVT rationale.
1. The Factors of Production are Land, Labour and Capital.
2. Land is a Monopoly
3. Labour and Capital create wealth.
4. Wealth creation is 'Profit'
5. Taxes can only be raised from the Profits of Private Business.
6. 'All profits return to rents'
7. Rents and Taxes are therefore synonymous
8. Hence, It is self evidently better to tax Rents, not Profits (aka Wealth Creation).
Discuss.
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