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Wealth and Income taxes are both wrong. What we need is to tax Land and Rents. By taxing land via a Land Value Tax system, and rent seeking monopolistic behavior, this will allow productive labor and productive capital to be exercised for economic growth.

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Could you explain more or link a place that explains how this prevents the runaway wealth we are seeing?

The book Progress and Poverty argues this. Basically as we see wealth increase, increases in population and productivity raise the value of land (economic rent). Landowners capture this value, while wages for labor stagnate. A Land Value Tax and other taxes on rents removes that extraction, so people are able to reap its benefits. Meanwhile it also stop taxing productive things, like capital and labor, incentivizing people to work harder and invest. Runaway wealth is often parked in land other rents, but as land is taxed it, in incentivized investment: more housing, more innovation, etc to be more utilized more efficienty.

Bingo!

Yes! A tax system that incentivizes productivity! You for president! I would vote for this so f*** hard!

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