single tax


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single tax,

any levy that serves as the government's only source of revenue. Generally, however, it is understood to mean a tax derived from economic rentrent,
in law, periodic payment by a tenant for the use of another's property. In economics, its meaning is more complex, but since the word rent means any income or yield from an object capable of producing wealth, its limitation to a more special sense is somewhat
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 and used as the sole source of public receipts. As such, it is based on the doctrine that land and the natural resources are the source of all wealth, and it corresponds substantially to the impôt unique of the 18th-century physiocratsphysiocrats
, school of French thinkers in the 18th cent. who evolved the first complete system of economics. They were also referred to simply as "the economists" or "the sect." The founder and leader of physiocracy was François Quesnay.
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. Basic to the theory is the belief that the land and its wealth belong to all. The most effective advocate of the single tax was Henry GeorgeGeorge, Henry,
1839–97, American economist, founder of the single tax movement, b. Philadelphia. Of a poor family, his formal education was cut short at 14, and in 1857 he emigrated to California; there he worked at various occupations before turning to newspaper writing
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, who held that economic rent tends to enrich the owner at the expense of the community and is thus the cause of poverty; he believed that by appropriating all (or nearly all) economic rent governments could wipe out social distress and even acquire a surplus without recourse to any other taxes. George's theories have had some influence on land taxation in Britain, several of the former dominions, the W United States, and several European nations.

Bibliography

See H. George, Progress and Poverty (1879).

References in periodicals archive ?
To show their support for the Chamber's so-called victory, the T&G identified the new tax rate as "baby steps toward a single tax rate.
But the council should also have a plan for returning Worcester to a single tax rate.
In some instances, tax professionals may be required to register with other state boards of accountancy just to file a single tax return.
based multinationals--a provision to repatriate foreign profits at a sharply reduced rate for a single tax year of their choosing.
And the Inland Revenue and Customs will consult on a single tax account for small businesses so there will be a single point of contact for VAT and corporation tax.
The one simple step the Chancellor could take would be to simplify taxation for business and we look forward to the detail on the single tax return.
As socialists, we should forget this single tax idea and concentrate our energies on real issues in Brussels, such as reforming the Common Agricultural Policy and overhauling our creaking, wasteful and very expensive civil service.
The pounds 3,000 ISA limit for a single tax year relates to cash going in.
The amendment corrects the classification of certain distributions the Company received, which is solely related to a single tax distribution from a joint venture, from the investing section on the statement of cash flows to the operating section on the statement of cash flows.
5%; (ii) single tax rate for companies in construction sector is to be reduced to 5%.
But at the glacial pace the Council has adopted, we're not sure the city will ever get back to a single tax rate.
However it rejected a "flat tax", or a single tax rate for everyone.