We need a tax system that rewards neighborhood investments, discourages idleness, and closely aligns private gain with the public good. Fortunately, just such an approach exists. So then why are so few communities using it?
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Our prevailing property tax system rewards those who sit on valuable land and leave it idle, while punishing with higher taxes those who put it to productive use. And for that, our buddy the speculator just wants to say, "Thanks, neighbor."
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