Most of it is land value (80% in urban).
Every dollar in land is a dollar not invested in the real economy, building businesses and raising families.
Instead of taxing income & productive capital, we should tax land to drive investment elsewhere and put Canada back on track.
@MrZachG Just bought “Morningside Model of Generative Instruction- building a bridge between skills and inquiry teaching” waiting (im)patiently for it to arrive. I would love to join your webinar.
Whoever is collecting the rent and charging us to live and work, whether it's corporations, governments or aliens doesn't matter. What matters is that there is only one way to escape - equalize land access so we can stay home any time they don't want to pay us enough. #SingleTax
Seven NZ econ/finance myths that need busting...
Myth 1: The NZ Govt is in worrisome debt 😱
Govt is not even in 'net debt'. Govt has *debts* but they are more than outweighed by *financial assets* (shares, equity, outstanding loans etc) [🧵1/n]
While I do like the edit on the OP, I feel like it assigns too much proportion of unearned income to the income of the "non rich." This looks more apropos in my opinion.
When an economy is based on land price inflation, it's actually a plantation. Society is paying investors to live because land (sleep) is unavoidable, no matter how poor you are.
If the public were not kept unaware of basic economics, poverty would be impossible to maintain.
Why do we have legal minimum ages? To protect kids from at least 4 harms: graphic sex, graphic violence, addiction, & health/safety hazards.
Social media exposes kids to all 4.
@profgalloway and I explain why social media should be age-gated:
https://t.co/3oHAyhbyjm
vaccine-mandate critical people are upset to find that the state will commit violence on its citizens, when ‘necessary’. Māori know that violence in their bones.
@MrZachG Because PT looks a lot like manipulation and control. The missed point is that manipulation is happening all the time, just unconsciously. Making it conscious is too aversive for many well-meaning teachers.
The capitalist vs. worker dichotomy is false.
It's really about publicly created wealth (land value) which we're over-privatizing, and privately created wealth (work incomes) which we're over-socializing.
@ronrule In Canada, a revenue-neutral shift to LVT (replacing property taxes) would leave every income decile with more money and make the economy more productive in general.
And it brings all the benefits of lower taxes on improvements and productivity.
@melulater Let’s give each young person a mentor for a year plus $100k. Check out how their lives change. Would cost same, and be a far more interesting experiment.
The capital gains debate usually misses a key point.
Some income is active/earned (building), some is passive/unearned (land). Treating them the same holds us back.
Housing is a classic example, as Nate Erskine-Smith discussed with Mark Carney.