Henry George,
Progress and Poverty (George)…
(1879)
“ McCulloch, for instance, declares taxes on the rent of land to be impolitic and unjust because the return received for the natural and inherent powers of the soil cannot be clearly distinguished from the return received from improvements and meliorations, which might thus be discouraged. If it discourages production to tax values that labour and capital have intimately combined with the value of land, how much greater discouragement is involved in taxing not only these, but all the clearly distinguishable values that labour and capital create? ”
