Should private Businesses built infrastructure in cities?

[Phil P]

Originally Posted by fairlaker

Georgism is about 135 years old. It has about five actual adherents. Six now, if we are to count yourself.

Well, property tax is the most justified and best tax of all. Other taxes may be needed as well, but without a good property tax, the capital will file into the hands of the few rich or at least the economy will be really distorted, something like how it already is with insane real estate bubbles.

[Retroit]

Yes. It used to be this way at one time. Many early streetcar systems, bridges, roads, etc. were privately built.

[fairlaker]

Originally Posted by Phil P

Well, property tax is the most justified and best tax of all. Other taxes may be needed as well, but without a good property tax, the capital will file into the hands of the few rich or at least the economy will be really distorted, something like how it already is with insane real estate bubbles.

Land taxes and property taxes are two different things. And we have not had any insane real estate bubbles. Markets reacted exactly as they should have to a decline of 335 basis points in mortgage interest rates between 2000 and 2003, and again just as they should have to rising interest rates between 2004 and 2006. The Great Recession was caused by the deliberate creation of massive amounts of bad secondary market paper that as it inevitably failed caused a credit freeze and subsequent asset market collapses.