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Freedom's fundamental right to own property.
Manage episode 484828676 series 3411130
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One of the great economic values in a free nation is the “right to own property.” In fact, in the Declaration of Independence, John Locke’s “life, liberty, and the right to own property.” But Jefferson changed it to the “right to pursue happiness.” This is so important because it forms the most basic functions in an economy: the right to buy sell. And makes business ownership and employment possible. Do you notice the owner of a house takes better care of the house than a house renter does? Private property is being targeted by the government. For instance, property tax is designed to target real estate for state and local tax collections. “Eminent Domain” is the power of government to seize property for public use. But a lot of states have laws that you can seize the owners property if he’s past due on his taxes.
Sponsored by the Caylor Group Wealth Management in Lynchburg VA. Call 434-455-7197.
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