Milton Friedman talks about property taxes

Benjamin Ljung · 75K views · 2014 · 3:34

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Microeconomics & behavioral economicsMacroeconomics & financial crisescommentary

Why Hacker News recommends it

HN cites it in tax and housing threads as a libertarian economist endorsing property or land taxes.

What it is

A four-minute clip of Milton Friedman, from a 1978 address, discussing property taxes and land value taxation. He says property tax is the least bad tax and explains why it is so unpopular.

Recommended by 0 HN commenters across 0 different months, 2020 to 2022.

What Hacker News said

Cites neilparikh · 2020-01 · on “California's housing bill SB 50 has died in the state Senate”

> When you want to take what’s someone’s property and make sure you want to ‘allocate’ it to someone else who wants it..it’s called redistribution. No one's property is taken, they'll just sell it on the market to whoever can pay the most. That's not redistribution, it's called markets (what America is build on). I think we fundamentally disagree on economics, so I doubt we'll come any useful agreement here unfortunately. However, one thing I wanted to note is that Milton Friedman, one of the most libertarian modern economists thinks property tax is the best tax [1][2]. If a libertarian economist thinks a policy is good, yet you're comparing the policy to authoritarian socialist countries an

Cites snidane · 2020-07 · on “Pandemic speeds largest test yet of universal basic income”

Milton Friedman also proposed Land Value Tax as the least worst tax. Only the second least worst was this negative income tax. Both mentioned in this short clip [3:33 mins] "Milton Friedman talks about property taxes". [this video]

Cites lukifer · 2021-08 · on “US real estate a safe haven for billions in dirty money, report says”

Many of the OG "classical liberals" had a much more nuanced take on privatizing land, supporting something more like usage rights, rather than fee-simple or alloidal land titles (private enclosure of land beyond subsistence was associated with aristocracy): "All the property that is necessary to a man for the conservation of the individual and his propagation of the species is his natural right, which none can justly deprive him of; but all property superfluous to such purposes is the property of the public, who by their laws have created it, and who may therefore by other laws dispose of it, whenever the welfare of the public shall demand such disposition." - Benjamin Franklin "Whenever the

Cites lkbm · 2022-04 · on “TurboTax’s fight against free tax filing”

Milton Friedman once commented that property tax is particularly unpopular because it's the only tax for which people still have to write a check[0]. That said, we could make income tax more visible without requiring tax professionals. (e.g., end withholding and send me a monthly tax bill; show the money go into my bank account and then back out, whether automatically or forcing me to write a check.) [0] [this video]