Editing Three Principles of the People (section)

==== Equalization of Land Rights ====
{{See also|Georgism|Land reform in Taiwan}}

Sun was influenced by the American thinker [[Henry George]] and intended to introduce a [[Georgist]] tax reform.<ref>{{cite book|last=Trescott|first=Paul B.|title=Jingji Xue: The History of the Introduction of Western Economic Ideas Into China, 1850–1950|year=2007|publisher=Chinese University Press|pages=46–48|url=https://books.google.com/books?id=RkJtJm9L7mQC&pg=PA48 |quote=The teachings of your single-taxer, Henry George, will be the basis of our program of reform.|isbn=9789629962425}}</ref><ref>{{Cite journal |last=Schiffrin |first=Harold |date=1957 |title=Sun Yat-sen's Early Land Policy: The Origin and Meaning of "Equalization of Land Rights" |journal=The Journal of Asian Studies |volume=16 |issue=4 |pages=549–564 |doi=10.2307/2941638 |jstor=2941638 |s2cid=164082381 |issn=0021-9118 |doi-access=free }}</ref> The [[land value tax]] in Taiwan is a legacy thereof. Sun said that "[land value tax] as the only means of supporting the government is an infinitely just, reasonable, and equitably distributed tax, and on it we will found our new system."<ref>Post, Louis Freeland (12 April 1912). "Sun Yat Sen's Economic Program for China". The Public. 15: 349. Retrieved 8 November 2016.</ref>

Sun proposed a land reform system known as "equalization of land rights", which involves the implementation of four different acts: regulation of land price, in which each landowner reports the value of their property sans improvement; taxation of land, which involves a [[land value tax]] set on all land properties; purchase of land, which sets up a system where government can purchase land for public use by [[eminent domain]]; and profit belongs to the public, in which a 100% tax is levied on all profit gained from trading of land (sans improvement). According to Sun, the existence of land purchase and land taxation guarantees that landowner wouldn't over-report (which would lead to high taxation on land) nor under-report (which would lead to their land being cheaply acquired for eminent domain) their land values.<ref>{{Cite wikisource|title=三民主义|wslanguage=zh|chapter=民生主義第二講}}</ref>

However, the [[Kuomintang]] failed to achieve any successful land reform Sun envisioned in mainland China and only succeeded in [[Land reform in Taiwan|Taiwan]].