Harberger Taxes

Description

Luke Duncan:

"Harberger’s model for a self-assessed tax required individuals to set the value of their property and pay taxes based on their self-assessed valuation. To ensure that it is in the interest of the individual to self-assess accurately, they are required to sell their property at their self-assessed valuation if they are approached by a buyer. This mechanism generalizes well and is the basis of Posner and Weyl’s proposed common ownership self-assessed tax or COST that they describe in detail in their paper “Property is only another form of monopoly.”

(https://medium.com/1hive/harberger-taxation-and-open-source-58dcdbab140d)