single tax
Definition
Noun: A single tax is a fiscal system in which all government revenue is derived from one specific type of tax, most commonly a tax on the economic value of land. The core principle is that this one tax would replace all other forms of taxation.
Usage
The term is used to describe a specific economic theory or proposed fiscal policy. It is often discussed in historical, economic, or political contexts. * The economist advocated for a single tax on land value, arguing it would be more efficient and just. * The policy debate centered on the feasibility of implementing a single tax system. * His platform was built on the idea of the single tax.
Advanced Usage
- The concept is most closely associated with the 19th-century economist Henry George and his book , which argued that a land value tax could solve issues of poverty and inequality.
- In modern discourse, "single tax" is sometimes used more loosely to criticize proposals seen as overly reliant on one revenue source, even if not strictly on land.
Variants and Related Words
- Georgism (n): The economic philosophy centered on the single tax (land value tax) and its associated ideas, named after Henry George.
- Land value tax (LVT) (n): The specific tax on the unimproved value of land, which is the typical commodity proposed for a single tax system.
Synonyms
- Land value taxation (in its most common historical application)
Related Phrases
- The single tax movement: Refers to the historical political and social campaign to implement this system.
- He was an active member of the single tax movement in the early 20th century.
Noun
- a system of taxation in which a tax is levied on a single commodity (usually land)
