News

Platform Capitalism, a form of monopoly capitalism, is hollowing out your down town, knocking out local retail.

Major internet-based platforms command monopolies which allow them to charge well beyond their cost of production. They undercut the competition, take in 65% of all ad revenues and realize an 80% unearned return on investment, all tax free. In contrast, your local retailers face competition, collect only earned income, and pay taxes.

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-singl...

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.

Renegade Economists Show 572 Subscribe to the weekly podcast.

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-o...

Just read Sun Yat-sen and study Singapore.

https://www.scmp.com/comment/insight-opinion/united-states/article/21691...

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-...

Eliminate all taxes but a levy on land, said Henry George. Here’s why it would work.

By Patrick Condon Today | TheTyee.ca

Professor Patrick Condon is the James Taylor chair in Landscape and Livable Environments at the University of British Columbia’s School of Architecture and Landscape Architecture and the founding chair of the UBC Urban Design Program.

https://thetyee.ca/Solutions/2018/06/04/Tax-To-Solve-Housing-Crisis/

We need to tax the super-rich, but what’s the best way to do it?

By Mike Cartmell from Singapore, Singapore (The Interlace, Singapore) [CC BY 2.0], via Wikimedia Commons

https://medium.com/@KatyPreen/funding-ubi-with-a-tax-on-land-88533bd5bc78

Léo Klag (1920-2018), longtime student of the economic philosophy of Henry George, passed away in his ninety-eighth year this past March. I first met Léo in the 1980s when he was on the governing board, along with Ben Sevack and the late Harry Payne, of the Canadian Research Committee on Taxation (CRCT), the predecessor to Earthsharing Canada. The job of Research Director for the CRCT was vacant. As a young academic I was keen on doing work in the areas of tax reform and normative economics.

"The rise of cryptocurrencies is potentially the long-awaited force to finally force governments to move to land and resource value capture. Cryptos are difficult to track or tax so salaries, sales and business profits become more difficult to socialize leaving governments little choice but finance programs by collecting rent. Milton Friedman foresaw this 17 years ago.

http://www.bbc.co.uk/programmes/p054fmbm

A party that wants to replace all taxes
The Young People's Party wants to legalise drugs, brothels and fox-hunting, with plans for a radical tax shake-up.

The party's Thomas Hall said: "We believe that land value tax is the fairest tax of all" and he said such a policy would have the support of Winston Churchill and Adam Smith.

He was speaking to Daily Politics presenter Jo Coburn and Conservative guest Michael Gove.

Release date: 30 May 2017

The Experts are almost unanimous is asserting that Britain will suffer once the Brexit deal has been struck with the European Union. Fear is the overriding emotion of those who want to reverse the 2016 referendum, in which people exercised their democratic right to redefine the future of their country. The psychology which frames the Brexit negotiations is calculated to deliver a bad outcome for both the UK and the EU.

https://www.youtube.com/watch?v=z6Ib0NnI_cw&feature=youtu.be

“Place one hundred men on an island from which there is no escape, and whether you make one of these men the absolute owner of the other ninety-nine, or the absolute owner of the soil of the island, will make no difference either to him or to them.”

Background Music: The Travel Agency by Nobuo Uematsu from Final Fantasy X

Sources:
https://en.wikipedia.org/wiki/Georgism
https://en.wikipedia.org/wiki/Geolibe...
https://en.wikipedia.org/wiki/Green_l...
http://geolib.pair.com/essays/sulliva...

In The Wealth of Nations, Adam Smith wrote, “As soon as the land of any country has all become private property, the landlords, like all other men, love to reap where they never sowed and demand a rent even for its natural produce.” By land, Smith and the “classical” economists who followed him meant all natural resources. The landlords were the ruling class, heirs of the conquerors of the territory, deriving their “rent” from the mere privilege of having titles granted and protected by the state.