Steve Hanke and Stephen Walters have been writing on taxation and economic policy for years, with close analyses of what makes urban areas hit or miss. Their latest piece in the Wall Street Journal emphasizes why some cities are more stable than others: reasonable taxes. Some might disagree that low property taxes are the driver of growth, although that helps. Taxation on mobile forms of wealth, like incomes, commerce and sales hurt more. Happily, respected Case Western economics professor Dr. William Peirce has a ready addendum to the low tax argument: tax immobile wealth - land values - that are created by the community and therefore ought to remain in the community, leaving other human effort alone.  Dr. Bill Peirce Baltimore in particular can benefit from a land value tax, as its rates are so far above other surrounding areas, there is a built-in fiscal hole before they even start. |
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CategoriesAct 47Allegheny County Australia Baltimore Canberra Connecticut Current News Item Economic Policy Education Fiscal Policy and Taxes India Ireland Land Value Tax Law and the Constitution Maryland Massachusetts Michigan National Tax Policy NY Pennsylvania Philadelphia Property Assessment Property Tax Reform Public Opinion Taiwan Uncategorized United Kingdom Urban Tax Policy Wales |
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