ATCOR

All Taxes Come Out of Rent (ATCOR) is a central theory to the heterodox Georgist school of political economy. Predecessor theories to ATCOR were developed by John Locke, the physiocrats, Adam Smith, and H. Bronson Cowan. In 1998, Mason Gaffney formalized the acronym and theory, describing ATCOR as follows:

The meaning and relevance of ATCOR is that when we lower other taxes, the revenue base is not lost, but shifted to land rents and values, which can then yield more taxes.

Gaffney argued that ATCOR necessarily follows from the inelastic supply of land, the elastic supply of labor and capital, and observations of other forms of taxation. ATCOR has been shown to work in a few US cities, including Cleveland, San Francisco, and New York City.

ATCOR is complementary to the Henry George theorem (HGT), popularized by Joseph Stiglitz—as well as Excess Burden Comes Out of Rent (EBCOR), also introduced by Mason Gaffney.

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