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When I say rent seeking, I mean something like "gaining profit by owning capital rather than by performing labor". Under that definition, all value extracted from capital would be rent seeking[1]. Strictly speaking, I'm not necessarily opposed to extracting value by owning capital; in many cases someone bought that capital with the profits from their labor, and more broadly the world isn't black and white. However, I do see taxing profit from owning capital as more just than taxing profit from labor.

In that respect, I generally see property taxes as more just than income taxes. However, I am sure that there are exceptions and any tax code would need to be nuanced.

[1] Although owning capital may allow you to do some labor that you couldn't otherwise in which case the profit gained from that labor would not be rent.




That’s a perfectly fine view for a person to have, but is definitely not what the economic concept of rent seeking is. What you’re talking about is essentially what Marx called “seizing the means of production”, and is the fundamental basis of Marxist economics. So if you wanted to be more clear with what you’re trying to say, I’d suggest you adjust your vocabulary a bit.


Thanks for the insight, that's a good point.




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