Annuals Quote by Adam Smith
“Both ground- rents and the ordinary rent of land are a species of revenue which the owner, in many cases, enjoys without any care or attention of his own. The annual produce of the land and labour of the society, the real wealth and revenue of the great body of the people, might be the same after such a tax as before. Ground-rents, and the ordinary rent of land are, therefore, perhaps the species of revenue which can best bear to have a peculiar tax imposed upon them.”
About This Quote
Source Book: The Wealth of Nations, 1776
Land rents are a form of revenue that can be taxed without harming overall wealth.
In simple terms: Land rent can be taxed without loss.
Key Takeaway
Consider land rent as a fair tax base.
Themes
economics
taxation
land
revenue
Mood
analytical
neutral
Type
economic
philosophical
When to use this quote
- property tax policy
- urban planning
- agricultural economics
Key Concepts
public finance
economic theory
Questions to Reflect On
- What are the social effects of land taxes?
- How can land tax be implemented fairly?
A Different Perspective
Taxing land may affect investment incentives.
