We are in financial crisis where there are far to many bureaucrats and highly complicated financial instruments which cost the earth in environmental and social terms , It allows fraud, corruption and is highly expensive to calculate and collect !
Money itself should not be taxed , It should be the goods and services that should have taxes embedded in them, to reflect the environmental and social damage the use of those natural resources cause !
Interesting but the current methods to measure environmental and social damage not effective. Moreover this requires a consensus, an agreement between countries and cooperation on a global scale which is quite a task given the nature of some developed countries to sustain at the cost of destroying other countries.
What do you mean by "natural resources" - land in the classical sense including minerals, natural gas, oil, water, forests, animals, etc, or labor? Some natural resources are already being taxed; what does it mean to replace "all present existing taxes"?
could you be please little bit clear in your question because first you are talking about Natural Resource Tax and comparing this tax with all existing tax i can't get your question in correct sense. If i can clearly understand your question i will also enjoy your discussion on this topic, in which i have more interest.
Natural resource or land rental payment equal to rental income should be the basis of a sound budget system, also taxation of negative environmental impacts should be a part of this system, also taxes for high incomes, luxury, large scale property.
There was a letter of a number of world leading economists including 4 Nobel prize winners to our former President Gorbachev who then destroyed the Soviet Union and finally the Russian economy. The letter was about the Land Rent or in a broder sense Natural Resource Rent, on necessity to make this rent a basis of the tax and budget system. Gorbachev and than El'tsin with their pro-US monetarist economists Chubais, Gaidar etc., made completely the opposite. 2 trillions USD since that run from Russia and origin of these money is mostly hydrocarbon and other natural rent, PRIVATIZED mostly by several people. Of course, substantial part of this rent get into budgets and this is the only possibility
for the country to survive. But it is an unsustainable state, it is step by step destruction. For understanding of this topic also it is important to be familirized with the Hartwick Rule
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