The economist Henry George argued that the best tax that a government can impose is a tax on land. What was the basis of his argument?

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Henry George's argument was based on the idea that land is a fixed resource and its supply is inelastic, meaning that it cannot be easily increased or decreased. Therefore, a tax on land would not discourage its production or supply, but only the ownership of it. Additionally, as land becomes more valuable due to economic growth and development, the tax revenue from it would also increase, without creating any additional deadweight loss.

The Economist Henry George Argued That the Best Tax That