Effectively, only renters pay taxes
An excellent new video from Fred Harrison on how those who rent effectively pay most if not all of the taxes. While the people who own land or resources also pay taxes, they receive most or all of it taxes back in land value uptick.
To check this out, just calculate your total tax paid over the last 10 years and weigh this against your total land value increase of the same time period.
In my case, we've paid about $100,000 federal, provincial, sales, and municipal tax in 10 years but have received back about $150,000 in land value increase. Not bad, eh. Good deal for land owners. -- Frank de Jong
Western economies need capital investment in infrastructure if they are to recover from the depression. But there will be losers: low-income taxpayers. Here's how.