As a follow-up on Warren Samuel's post, readers may like to read today's
Financial Times, whose economics editor, Martin Wolf has a germane
article, "Land Tax is Something to Build on". See
https://registration.ft.com/registration/barrier?referer=3Dhttp://news.ft.
com/home/uk&location=3Dhttp%3A//news.ft.com/cms/s/609e9684-f717-11da-a566-
0000779e2340.html
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It begins thus:
How should one finance infrastructure? How should one decide what
infrastructure to build? The answer to these two questions would appear
self-evident: we should build infrastructure if benefits exceed the cost
and we should finance it by taxing the beneficiaries.
Who are those beneficiaries? Landowners is the answer. Land taxation is
the natural, efficient and just way to finance the capital cost of
infrastructure. That is the point of a thought-provoking pamphlet by
Fred Harrison, research director of the Land Research Trust [_Wheels of
Fortune: Self-funding Infrastructure and the Free Market Case for a Land
tax_ Institute of Economic Affairs]. ...
Roger Sandilands