Studying Islamic Finance

السلام والازدهار العدالة المجتمعي
You are visiting a blog associated with an online noncredit course studying the topic of Islamic Finance, moderated by John Wiley Spiers. Feel free to participate in our discussion, and if you are interested in taking the course visit http://www.johnspiers.com/Islamic_Finance/Welcome.html

Tuesday, February 19, 2013

Taxing Questions

Here is a delightful anti-usury blog with a commentary on taxes.  There is a 13 minute video with an interesting argument on taxes, to which I commented:


An excellent little video, if a bit slow to the point...  property is created when labor is mixed with natural resources.  Land as property is worked, land, and limited by the ability to work it.  islam has a rule that land can be taken after being 3 years fallow, and in common law we have adverse possession, the means to take unused law.  If we are to have taxes, then the argument here is ineluctable.

It does not mention who assesses value for the tax basis.  I believe the ancient Greeks had an excellent system for assessment, the owner stated the value.  Conflict of interest?  Not at all, because the stated assessed value was also an offer to sell, the price at which the landlord would give up the parcel.


The blog is a good place to study.

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