Comments on: My del.icio.us bookmarks for May 9th http://www.taxresearch.org.uk/Blog/2008/05/10/my-delicious-bookmarks-for-may-9th/ Richard Murphy on tax and corporate accountability Sun, 20 Jul 2008 12:57:48 +0000 http://wordpress.org/?v=2.3.3 By: Carol Wilcox http://www.taxresearch.org.uk/Blog/2008/05/10/my-delicious-bookmarks-for-may-9th/#comment-430816 Carol Wilcox Sun, 11 May 2008 22:39:25 +0000 http://www.taxresearch.org.uk/Blog/2008/05/10/my-delicious-bookmarks-for-may-9th/#comment-430816 Richard, I am NOT a single-taxer - I support the need for taxes on bads, profits, consumption and average wages. But if implemented at a high rate, LVT would undoubtedly stop land price boom/bust, which is a major component of the current financial crisis. As mortgage providers, the banks are in effect collecting economic rent, whilst the speculators have enjoyed the capital gains - entirely unearned. The huge amount of money which has been piled into land speculation has starved industry of real investment. Germany has not seen a comparable property boom and their levels of investment in the real economy put ours to shame. Richard, I am NOT a single-taxer - I support the need for taxes on bads, profits, consumption and average wages. But if implemented at a high rate, LVT would undoubtedly stop land price boom/bust, which is a major component of the current financial crisis.

As mortgage providers, the banks are in effect collecting economic rent, whilst the speculators have enjoyed the capital gains - entirely unearned. The huge amount of money which has been piled into land speculation has starved industry of real investment. Germany has not seen a comparable property boom and their levels of investment in the real economy put ours to shame.

]]> By: Tax Research LLP http://www.taxresearch.org.uk/Blog/2008/05/10/my-delicious-bookmarks-for-may-9th/#comment-430765 Tax Research LLP Sun, 11 May 2008 19:52:37 +0000 http://www.taxresearch.org.uk/Blog/2008/05/10/my-delicious-bookmarks-for-may-9th/#comment-430765 Carol I never complicate more than necessary But this is not a simple issue Nor is there a singlte simply solution LVT is in my book part of a solution It could never be more, in my opinion But, I may be wrong. Some like to say I am, and sometimes they're right! Carol

I never complicate more than necessary

But this is not a simple issue

Nor is there a singlte simply solution

LVT is in my book part of a solution

It could never be more, in my opinion

But, I may be wrong. Some like to say I am, and sometimes they’re right!

]]> By: Carol Wilcox http://www.taxresearch.org.uk/Blog/2008/05/10/my-delicious-bookmarks-for-may-9th/#comment-430653 Carol Wilcox Sun, 11 May 2008 08:15:13 +0000 http://www.taxresearch.org.uk/Blog/2008/05/10/my-delicious-bookmarks-for-may-9th/#comment-430653 Capital should surely be considered as positive - an improvement. Man-made improvements cannot alter the value of the land on which the improvement is made, although it may affect the value of surrounding land. Pollution is a negative and can indeed detract from land value, but it is entirely irrelevant to the property boom/bust cycle. Why complicate the simple argument? Capital should surely be considered as positive - an improvement. Man-made improvements cannot alter the value of the land on which the improvement is made, although it may affect the value of surrounding land.

Pollution is a negative and can indeed detract from land value, but it is entirely irrelevant to the property boom/bust cycle. Why complicate the simple argument?

]]> By: Tax Research LLP http://www.taxresearch.org.uk/Blog/2008/05/10/my-delicious-bookmarks-for-may-9th/#comment-430477 Tax Research LLP Sat, 10 May 2008 21:11:03 +0000 http://www.taxresearch.org.uk/Blog/2008/05/10/my-delicious-bookmarks-for-may-9th/#comment-430477 Carol True - but only in part. That property that sits on the land does have a substantial impact on the land's value. Just look at stuff that has been contaminated for the evidence. Richard Carol

True - but only in part. That property that sits on the land does have a substantial impact on the land’s value.

Just look at stuff that has been contaminated for the evidence.

Richard

]]> By: Carol Wilcox http://www.taxresearch.org.uk/Blog/2008/05/10/my-delicious-bookmarks-for-may-9th/#comment-430372 Carol Wilcox Sat, 10 May 2008 12:52:12 +0000 http://www.taxresearch.org.uk/Blog/2008/05/10/my-delicious-bookmarks-for-may-9th/#comment-430372 Re third item, I do wish all you economists would stop confusing land and capital. It's not property price boom/bust which causes problems - it's the land element of property. Buildings require constant investment to maintain their value, just like any other man-made object. What we have is land market failure and there is a simple solution - annual land value taxation. Re third item, I do wish all you economists would stop confusing land and capital. It’s not property price boom/bust which causes problems - it’s the land element of property. Buildings require constant investment to maintain their value, just like any other man-made object.

What we have is land market failure and there is a simple solution - annual land value taxation.

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