The revolutionary Paine proposed that landowners pay what he called ground rent for the unimproved land they inhabited, and stated: “Property will be taxed at the rate of 10 per cent when the owner of cultivated land dies. The rich should also pay a portion of this personal property at their death into the estate.” Paine justified this inheritance tax on the principle that “whatever a man’s hands produce, that comes to him from living in society .” Paine did not advocate redistribution of all wealth, but instead argued that only certain forms of wealth, those not derived directly from one’s own labor , were most suitable for taxation.
be collected into a fund for the equal benefit of all.” Paine believed that this fund should be used for 3 important purposes. First, each person would receive a lump sum of 15 pounds telegram data upon reaching the age of 21. (In Paine’s day, a working man earned about 23 pounds a year, working continuously.) This lump sum would be given to everyone regardless of sex, status, or wealth “to avoid unpleasant distinctions.” Second, anyone over the age of 52 would be given a sum of money annually, as a sort of pension. Finally, the remaining funds would be given to the “lame and blind.”
Paine believed there were benefits to be realized by adopting his plan. For those aged 21, the lump sum would provide capital to purchase property, start a business, or save for future ventures. He hoped that this lump sum, paid to young people, would prevent people from falling into poverty. But it was not just to prevent poverty; it was also to promote a degree of independence and enterprise such that people would not have to rely solely on their employers, but would instead have the opportunity to work for themselves. For those over fifty-two, it would provide a basic pension to prevent destitution if a person could not work due to age-related illnesses.