Monday, September 9, 2013

Property Tax - A Tax To Merely Exist

Should a band of twenty nine (29) be able to unilaterally decide to confiscate dues and charges from 1.3 million supposed subjects by way of a property tax?

The imposition of a property tax is the exercise of power without moral limits even whilst citizens are  already taxed unnecessarily on their income, spending and by inflation due to the Central Bank's exponential expansion of the money supply. Even more infuriating is the fact that most tax resources are inefficiently squandered or syphoned to the politically connected.

Do consider that the right to property is a right that emanates from the right to life itself, which ensures the accumulation of the fruits of one's labour and its protection from confiscation. This is a premise society is based on; as it establishes a system by which hard work and service to society can be rewarded. Being able to accumulate property also encourages differed gratification, savings and frugality -qualities that benefit the society at large. 

Though this property tax philosophy may appear benign it presupposes the entitlement of third parties to other people's assets and resources. Thereby sending the wrong signal to society: 

Not only is the prospect of a property tax morally reprehensible its also terrible economic policy. It would raise the cost of home ownership and rentals, further pricing out the most vulnerable with regard to housing needs. It would only serve to increase the cost of living that mainly affects the poor while at the same time putting a damper on the construction industry.

The notion of the government requiring tax revenues to provide public service is mere propaganda -as the nature of government ensures that the scope of government exponentially expands to the benefit of those in the state. Consequently there is no limit to which taxes on the citizenry will increase even whilst there is no commensurate increase in the already poor level of social services provided.

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