GB’s The Independent: Shift Taxes Onto Locations
|March 7, 2014||Posted by Staff under Good Press|
This 2014 excerpt of The Independent, Feb 25, is by Ben Chu.
Best of all would be a land value tax, requiring property owners to pay an annual levy based on the market value of the plot of earth beneath their home. This could potentially replace stamp duty, council tax, and even business rates. It would encourage more housebuilding by discouraging land hoarding, penalize those who leave properties empty, and ensure people paid for windfalls to their home values from new transport links etc. Sensible politicians should be all over it.
Ed. Notes: If you have to pay a tax, it’d be hard to pay a better one than the one on locations. It’s fair, because the value of locations is created by the surrounding society, and because we each owe compensation to our neighbors for excluding them from a part of Earth — to which we all have an equal right — just as our neighbors owe compensation to us. We should all pay land dues in and get rent dividends back.
Happily, paying land dues makes it possible to get rid of the counterproductive taxes on labor land capital, and getting rent dividends makes it possible to get rid of the wasteful and addictive subsidies to special interests.
So it’s great that the British press promotes this vital part of geonomics. May the press of other nations catch up!