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encourages us outside investors” to rent our land to the farmers of the area, increases the productive land available to the local farmers, and (I would hope) increases their income to encourage them to continue farming.
The United States is going to have to find a better way to fund local governments than the current real estate tax system does. Real estate taxes as a major source of income for the local governments made sense years ago. Then we were an agrarian society where almost all the wealthy people were farmers who owned large farms. Then there was almost a direct relation between wealth and the amount of land owned. It made sense to use
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