Asked by grace kelly on Jul 25, 2024
Verified
The single-tax movement,headed by Henry George,refers to the idea that
A) taxes on rent are less costly to administer than other taxes.
B) rent is a surplus that can be taxed without distorting resource allocation.
C) rent should not be taxed because it is a free gift of nature.
D) rent is based on a derived demand and should not be taxed.
Single-Tax Movement
A political and economic ideology advocating for a tax system based solely on land value.
Henry George
A 19th-century American economist and social reformer known for his advocacy of a single tax on land value.
Resource Allocation
The process of assigning and managing assets and resources in the most efficient way to meet organizational or economic objectives.
- Comprehend the principles of rent theory and their impact on economic and policy frameworks.
- Identify the consequences of land taxation and its impact on the economy.
Verified Answer
AJ
Adeboye JosephJul 27, 2024
Final Answer :
B
Explanation :
The single-tax movement, headed by Henry George, refers to the idea that rent is a surplus that can be taxed without distorting resource allocation. George believed that economic growth and equality could be achieved through the collection of a single tax on land values, which would capture the value created by the community rather than private individuals. By taxing land values, George believed that the government could reduce or eliminate other forms of taxes and promote more efficient use of land resources. Therefore, the best choice is B.
Learning Objectives
- Comprehend the principles of rent theory and their impact on economic and policy frameworks.
- Identify the consequences of land taxation and its impact on the economy.