The ownership of land is the great fundamental fact which ultimately determines the social, the political, and consequently the intellectual and moral condition of a people.
by ANNIKA NEKLASON APR 15, 2019
In 1879, a political economist argued that wealth derived from land value belonged to the American public. Today, economists are reviving interest in his ideas as a way to combat wealth disparities.
https://www.theatlantic.com/national/archive/2019/04/henry-georges-sing…
Every citizen has a right to a Basic Income, a right to their share of the surplus wealth produced by their local economy.
But Basic Income plans should be funded out of unearned income, NOT earned income. People with jobs should NOT be taxed to pay for people without jobs.
About 30% of the GDP in every jurisdiction is economic rent, variously called the economic surplus, super profits, royalties, capital gains, unearned income, monopoly profits, or profits without a corresponding cost of production.
Don't you wonder why jobs are taxed, but many people get rich by collecting unearned income, which is taxed little or not at all?
There are two income streams:
“earned income” from jobs, investments, and businesses, and
“unearned income” primarily from monopoly ownership of land or resources.
Economists call unearned income “economic rent”, defined as income not subject to competition, or revenue without a corresponding cost of production.
These days most Davos types get rich through stock option buy backs and then avoid taxes through offshore tax havens, shell companies, equity swaps, shell trust funds and real estate borrowing. To reduce the obscene wealth gap plus boost the economy, governments should finance programs by collecting unearned income (economic rent) in lieu of taxing jobs.
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Frank de Jong talks about the fading political currency of policy makers and their inability to meet the demands of inequality alongside rampant right-wing influence. How can a pre-emptive economic system be enabled to deal with issues at source? Taxation is not just to raise revenue, but to improve economic outcomes.
Check his work via https://earthsharing.ca/
http://www.earthsharing.org.au/2018/12/the-end-of-the-month-or-the-end-…
The Georgist case in 2 minutes.
https://www.youtube.com/watch?v=S_W7qwtYaL0&feature=youtu.be&fbclid=IwA…
Just read Sun Yat-sen and study Singapore.
https://www.scmp.com/comment/insight-opinion/united-states/article/2169…
Ostensibly, the Chinese economy is increasingly reliant on construction, which has stoked a huge credit boom. It is often said that China avoided a direct hit from the financial crisis of 2008, unlike the United States and Europe; essentially, Beijing built its way out of a recession.
http://www.iwa.wales/click/2017/07/case-land-value-tax-wales/
Dr Rhys ap Gwilym is Senior Lecturer in Economics at Bangor Business School and a member of the welsh agenda Editorial Board
The poorest nation in western Europe needs to implement some transformative economic policies if it is serious about making up ground on its affluent neighbours. Here’s one proposal for such a policy.
Beloved of liberals and economists, they have so far never caught on.
https://www.economist.com/briefing/2018/08/09/the-time-may-be-right-for…
