The ABC of taxation

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Monograph

Identifikator:: 1010741608

URN:: urn:nbn:de:zbw-retromon-21094

Document type:: Monograph

Author:: Fillebrown, Charles Bowdoin

Title:: The ABC of taxation

Edition:: Fourth edition specially revised

Place of publication:: Garden City, New York

Publisher:: Doubleday, Page & Company

Year of publication:: 1916

Scope:: 1 Online-Ressource (236 Seiten)

Digitisation:: 2018

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

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Document type:: Monograph

Structure type:: Chapter

Title:: Part III. Other essays and addresses

Collection:: Economics Books

JUSTICE OF THE SINGLE TAX 111 Wealth is mercurial and fugitive. While wealth is a private product, so to speak land value is a public product, publicly created and publicly maintained. What more than these differences is needful to make reasonable and convincing a separate classification of land and wealth, especially for purposes of taxation? The right of property in wealth is the right of a man to eat his bread in the sweat of his own brow. The right of property in land to-day is the right of a man to eat his bread in the sweat of another man’s brow. Usufruct means property in what the land produces this year by the application of one’s own labour. Private ownership, including as it does to-day the private appropriation of ground rent, means property in what the land may produce for the next ten, one hundred, or one thousand years by the application of the labour of others. The Capitalised Tax By the capitalised tax is meant a sum, the interest of which would pay the tax. It is usually found by multiplying the tax by twenty because 5 per cent inter est is one-twentieth of the principal. For every $16 of tax, the selling value of land is less than it would be if free of this tax, by I320, an amount which at 5 per cent would pay the tax, $16, and leave for the selling value a purchasing price which would net 5 per cent return to the investor. Value and Valuation There can be, strictly speaking, only one value for anything, and that is, what it will sell for. But there may be many valuations of the same thing, and a thing

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