Re: Taxing Intelligence/Talent (was: 'Waterhole' and land rents)

"Andy F." wrote in message ...

That near[ly] $2 million extra the player gets won't increase the amount
or quality of his play by a single iota --

No, it almost certainly does improve his play. There are many thousands of
talented players working hard at their game in the hope that they might
hit the big time and become millionnaires. If the big money wasn't there,
there would be less competition and the top players wouldn't have to work
as hard.

As with the LVT, any $$ invested in improving an asset should be deducted
from the final returns. In this example, I suppose _effort_ should also be
deducted (though I'm not sure how to value it). The main thing is that, for
example, 2 guys can train just as hard for a baseball career, but one ends
up earning $50 million and the other can't even get hired. So most of that
$50 million (minus the 'capital' investment) will be taxed away.

Dan in Philly


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