alternatively, a mix of socialist and capitalist policy whereby sizeable amounts of land tax (say 5%pa) is levied, with no exemptions.
Land prices crash by 80%+, but ownership still remains in the private sector... the land is yours... as long as you pay the land rent.
Income tax would abolished for all low income earners. Redistributive tax system will provide assistance for everyone to consume their own fair share.
The more you earn (i.e work through labour, return from productive capital and entreprenuerial skill) the more, higher quality, well located land you are able to afford to consume.
Four components of production are:
Land, Labour, Capital and Enterprise.
It is very clear we are undertaxing land (thereby privatising economic rents) thus the burden falls on taxing labour.
