#Georgism#LVT
UK Likely to get first Georgist Prime Minister since Winston Churchill
For the benefit of our US Redditors, Andy Burnham is very likely to be the UK's next Prime Minster after winning the Makerfield by-election with a significant...
https://t.co/qVMeULfGjd
Another classic from Jimbo's Geonomics give it a read. Georgism is the foundation of ecological economics and the original natural resource pricing mechanism
Rent is not just payment for a building.
A big part is payment for location: jobs, transit, parks, schools, customers, density.
Henry George asked why that location value, created by the city, should be privately captured.
That is the Georgist housing question.
"A land value tax means the state wants you to own nothing!"
Except the house which it isn't taxing, your wages which it isn't taxing, your purchases which it isn't taxing, your retirement income which it isn't taxing... other than that, you'll own nothing!
#Georgism
Subsidizing demand for something fully finite like land doesn't often end too well
For anyone wondering why:
Land being fully finite means that, as demand goes up, supply doesn't go up to bring prices back down. Instead what happens is much...
https://t.co/5NuM34Obj7
Despite what critics say, land value tax separates this wheat from the chaff. LVT discourages real estate buying for speculative reasons and encourages real estate buying for its use value
#Georgism#LVT
Thomas Paine, sometimes called "The Father of the American Revolution", on the ownership of land
Interestingly enough, Paine actually advocated for an inheritance tax on land, which would then be used to give a universal dividend to all...
https://t.co/eYgrqLw2By
"I ask those who shed tears for multiple home owners seeking windfall profits,"
"Don't you see the blood and tears of millions of young people who give up marriage and childbirth because of soaring housing costs?"
- South Korean President President Lee Jae Myung
Land value tax would solve this. LVT reduces sprawl and encourages densification and in-fill development. Its also a tax that increases revenue as land value rises so it's a self funding mechanism for transportation and infrastructure.
8 years ago @L__Macfarlane laid out exactly why we’re broken—and how to fix it. Clear, practical, transformative solutions. He’s the sharpest economic mind in Scotland who heads up @FutureEconScot
Politicians have had the answers on a plate for a while now. Why the hell are they still pretending they don’t and still tinkering around the edges?
#WeAreRent #Georgism
A perfect visual of the problem @DanNeidle
Council Tax bears almost no relation to today’s house prices, which is why places like Blackpool pay more than parts of Westminster!
The system is backwards.
@cjsnowdon The first argument for georgism is that people deserve to own what they make, and no one made land and its natural resources.
The second argument is that if you tax creation and trade, man-made things become rarer and more expensive. But when you tax land, it becomes cheaper...
@tomhfh Imagine raising a tax which would move money from the unproductive to the productive.
Land Value Tax does that. Land Value Tax solves our problems.
Exempting property taxes does the opposite and creates unaffordable housing markets.
Its because of land value. Land value will perpetually rise and you can either allow private sector price gouging or you can create affordable housing with land value tax