Comments by "John Burns" (@johnburns4017) on "Wealth taxes won’t work" video.

  1. Tax unearned income. Do not allow economic rent to be appropriated by private concerns. Income tax is a method to push the tax burden onto the poor. A temporary tax that comes from funding Napoleonic wars. Richard is just moving same the balls around on the table, with none removed. We should get down to basics and not allow commonly created wealth to be privately appropriated. Then remove stealth and bad taxes like Income Tax and VAT. Income Tax is a penalty on production with VAT a penalty on trade. The last things we should be penalizing. We should not view land as a capital item - this is a big problem. Charging for all commonly owned resource and using Land Value Tax as the prime tax is the only way. Look at Hong Kong, Singapore and Taiwan who tax land, not income so much.
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  2. Most of the wealth of the very wealthy derives from economic rent, not any production.
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  3.  @markwelch3564  Rent seeking is parasitic - full stop. Eliminating rent seeking will sort many things out naturally.
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