Slate, Mar 3: You should tax land; that seems quite sound to me. Levying heavy tax rates on land — valuable because it’s in San Francisco or because it has oil in it — does not create any bad incentives.

America Does Tax Wealth, Just Not Very Intelligently

Excerpt:

If you want to think about taxing wealth more heavily, it’s probably worth trying to draw some distinctions. The old argument going back to David Ricardo and Henry George that you should tax land wealth very heavily seems quite sound to me. Levying heavy tax rates on valuable land (whether it’s valuable because it’s in San Francisco or valuable because it has oil in it) does not create any bad incentives.