"but it is nevertheless true, that it is the value of the improvement, only, and not the earth itself, that is individual property.
Every proprietor, therefore, of cultivated lands, owes to the community a ground-rent (for I know of no better term to express the idea) for the land which he holds".
- Thomas Paine.
Geonomics has Land Value Tax as its core. Where land and its resources are taxed.
Land is:
- the lakes,
- in the land (ores, oil, etc),
- rivers,
- seabed,
- sea indoe the limit,
- air
- electromagnetic spectrum
– all the above COMMONWEALTH. Nature made these, not men.
Also Geonomics implements Pigovian taxes such as, alcohol, tobacco, congestion charges.
Revenue for common services are reclaimed from economic growth created by commonly created wealth. The best way to fund common services – by commonly created wealth. Obvious.
Geonomics reduces, or eliminates
1. Income Tax (a tax on production),
2. Sales Tax (a tax on trade),
leaving private wealth in private hands.
1. Socialized wealth is socialized
2. Private wealth stays privatized.
This promotes enterprise, as enterprise is not penalized.
As a briliant off-shoot...
Land speculation was the root cause of the 1929 and 2008 crashes. Geonomics prevents land speculation and busts and booms, stabilizing the economy. LVT is self regulating as the free-market determines the value of land. Land cannot be taken off-shore and dodged. LVT is cheap tro collect.
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