I'm with Michael Hudson on this. Tax economics rents. Rent is a negative externality that tax policy can discourage by penalizing. Taxing economic rent is progressive, since gain from rent increases to scale of income and wealth that result in the power to extract rent. Taxing rent is also sufficient to drive the currency.
Economonitor — Great Leap Forward
Tax Bads, Not Goods
L. Randall Wray | Professor of Economics, University of Missouri at Kansas City
Great Leap Forward is Randy's personal blog. This is crossposted at New Economic Perspectives and Naked Captialism. Taxation is a hot topic, and there are some interesting comments at the above locations.
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