Post-Corona balanced budget fiscal stimulus: The case for shifting taxes onto land

Michael Kumhof, Nicolaus Tideman, Michael Hudson, Charles Goodhart Land’s share in economies’ nonfinancial assets equals between 40% and 60%, and in the US currently equals over 50%. This constitutes a very large base for a non-distortionary tax. This column suggests that a 5-percentage point or larger increase in the tax rate on the value of […]