- A value added tax. This would tax consumption, which is a good idea. It is successful in Europe.
- A corporate equity tax. Give the government a non-voting share in every corporation. This would be a recognition of the fact that corporations exist only as entities created by government. Since they owe their existence to the government, and since they owe the existence of the arena in which they operate — a free, open, and lawful marketplace — to the government, the government should have a share of each of them.
- A property tax. The argument given above that corporations exist and owe much of their value to the government holds for property as well. Were it not for laws of ownership, there would be no property, which is a legal construct.
Thursday, June 16, 2005
Freedom Isn't Free
I recently commented on the need to rehabilitate the notion of taxes. Without taxes, we would have no government; without a government, we would not have the civil and economic cocoon within which we live. But how can taxes be linked more directly to that infrastructure? What if we eliminate all current taxes and replace them with the following?