24 Nov 2022 10:09 pm
2. It would enormously increase the production of wealth--
(a) By the removal of the burdens that now weigh upon industry and thrift. If we tax houses, there will be fewer and poorer houses; if we tax machinery, there will be less machinery; if we tax trade, there will be less trade; if we tax capital, there will be less capital; if we tax savings, there will be less savings. All the taxes therefore that we would abolish are those that repress industry and lessen wealth. But if we tax land values, there will be no less land.
(a) By the removal of the burdens that now weigh upon industry and thrift. If we tax houses, there will be fewer and poorer houses; if we tax machinery, there will be less machinery; if we tax trade, there will be less trade; if we tax capital, there will be less capital; if we tax savings, there will be less savings. All the taxes therefore that we would abolish are those that repress industry and lessen wealth. But if we tax land values, there will be no less land.