There was a convincing op-ed in WSJ a few years ago about how in all the states that are facing public sector defaults, the ultimate payer of these debts will be homeowners. Since basically the only place left for most governments to go is property value (unless they have huge businesses they can tax). And it is worse in the poorer states, because they don't have high home values to cushion the blow to the individual…
There are big huge businesses we aren't adequately taxing: Big tech. When your sector makes up like three of the five most valuable companies on the planet, we probably should be taxing it more. And Jeff Bezos does not need more money.
Why a land-value tax is inevitable
291–300 of 322 posts
Re: Why a land-value tax is inevitable
#292Earlier quoted context omitted.
You wrote this: 1. a group of people were assured jobs 2. the job assurance was changed to a basic income, no need to work anymore 3. people still showed up to work errr... seems OK to me? It proves that even if there is an UBI most people will still work. The UBI is just a safety net that assures you do not die of exposure if you get to spend some time without working (for whatever reason). Your example proves that…
If they'd skipped straight to UBI they likely wouldn't have done these jobs.
Re: Why a land-value tax is inevitable
#293Earlier quoted context omitted.
Are people who have more than one child (or 2.1, if you’d like for monogamous couples) selfish too?
If you’re hinting at taxing having more kids, I know it’s an unpopular idea but honestly it sounds decent to me. It just doesn’t mesh well with the declining birth rates in developed nations. Some countries are paying people to have kids, and it’s not working very well.
My hope is that if we can manage population numbers before we run out of resources, we can stave off the severe resource crunch that will come when we don’t have a sufficiently large gene pool when the decline begins.
The problem also is that our efficient supply chain has ensured that one or two rich deposits of xyz resource takes care of the whole world. Many rare metals and precious metals mined for electronics and phones come to mine. Phosphorous comes to mind. We use it as fertilizer but it’s not renewable. The river sand we use for construction. Top soil that is depleted and water sources that are poisoned due to Ag runoffs and Ag soils that are tilled away.
And I am not even talking about global raising temperatures or carbon. Take insects for example. The bees we need for pollination. The frogs..especially insects and reptiles and amphibians need habitat to survive. Their disappearance shows that there is a tear in the web. It indicates that we have destroyed their environment or poisoned it or made it impossible for them to reproduce it sufficient numbers to keep their future generations up. They are on the other side of mammals like us or elephants etc..because we live so long, it would take a while and a lag before we see a decline. They have such short life spans and can have a couple of hundred generations within a matter of days, they are like early warning systems.
Given this, we know that habitat is disappearing and ecosystems are in peril. Poverty is disappearing and we are expending huge amounts of energy to keep our soon to be 10 billion people by 2050.
Even if population becomes stable before plummeting as the old people become more more numerous and are non reproductive and die off..even if we have sufficient young people to keep our species alive and even if we find it ways to live smaller and differently...the non renewable resources once gone are gone. Top soil once gone is gone. Soil phosphorus once depleted isnt coming back. Mining has to end some day. Oil will become scarce someday. Homes build on Ag land and forests cannot be razed down to become habitat and forests and environment and habitat again.
This might not happen in your lifetime or mine, but our species extend beyond one or two generations. We owe it to generations down the line to preserve the planet. We can’t synthesize our own food. We rely on our environment and natural resources as an apex predator sitting on top of the food chain.
The most urgent thing to do is multi part: 1. Find a way to preserve genetic material effectively and create a gene data base. We do that with seeds in Ag. There is a seed vault in Svalbard(don’t know if it still exists) 2. Invest in anti ageing therapies. And by this I don’t mean youthfulness of looks but ageing is the slow decline of cognitive faculties and organ failure and cell aging. 3. Have a half-earth philosophy as promulgated by E.O.Wilson to keep intact our environment and habitat that relies on that environment.
I am not attempting to suggest that we have to become Luddites or start controlling population numbers. If we just back off and stop incentivizing high birth rate, within 120-150 years, we might get this under control. No need for coercion or mandatory depopulation methods. Stop encouraging people who can’t afford children to keep having children. That will do.
China supplies most of the developed world with what we need at cheap prices. These are mass produced products. In return, through belt and road initiative, China has the entire Southern Hemisphere trading food and Ag products to support its 1.4 billion. It’s easy to make 10 billion iPhone chips. It’s not as easy to feed 1.4 billion people pork with available resources.
So with declining populations, the world still needs to deploy and deplete its resources to trade due to our higher consumption habits. But exponential population increases are a funny thing. Exponentially 1.4 increases faster than 350 million. Some resources don’t increase at all and in fact non renewable. What do we do now?
Re: Why a land-value tax is inevitable
#2941. UBI 2. LVT 3. Environmental externality taxes That's all we need to fix the 21st century. Simple as hell so basically immune to regulatory capture, and will usher in a rate of progress we haven't seen in 100 years, if ever.
"Explanations exist; they have existed for all time; there is always a well-known solution to every human problem—neat, plausible, and wrong." -- H. L. Mencken I am not saying that the ideas you have listed are not without merit, however to say they will fix the 21 Century is a bit over reaching.
I'm not saying any of this is easy to do, but that's because politics and reform is hard. Not enough people can agree what to do != no one can know what to do.
With fields like "mechanism design" we've blurred the distinction between central planned and distributed economics too; never have we had a better menu of options.
Re: Why a land-value tax is inevitable
#2951. UBI 2. LVT 3. Environmental externality taxes That's all we need to fix the 21st century. Simple as hell so basically immune to regulatory capture, and will usher in a rate of progress we haven't seen in 100 years, if ever.
Someone's spending too much time on Twitter
Re: Why a land-value tax is inevitable
#296Earlier quoted context omitted.
No we don't. I will never participate in a scheme where we rob someone at gunpoint to "help" another person. The end doesn't justify the means.
That does contain the huge and unprovable assumption that there is such a thing as natural property in the absence of the state. See https://www.currentaffairs.org/2019/01/why-taxation-is-neith...
So annoying that the vast majority of Americans seem to fundamentally do not understand this. The curse of too much land.
Re: Why a land-value tax is inevitable
#2971. UBI 2. LVT 3. Environmental externality taxes That's all we need to fix the 21st century. Simple as hell so basically immune to regulatory capture, and will usher in a rate of progress we haven't seen in 100 years, if ever.
The fix that no one seems to talk about is to abolish usury/interest. Islam, Judaism, and Christianity outlawed lending money with interest many centuries ago, and for good reason. Once the core is fixed, we will see benefits across the board almost by definition. Ban parasitic and immoral practices (interest/usury, stock shorting, selling debt for debt, short and long option positions [aka gambling], etc.) and thing…
If you want a steady-state economy, you're going to need far more reforms than this, and if you want capitalism without interest you're shit out of luck.
Re: Why a land-value tax is inevitable
#298Earlier quoted context omitted.
"Explanations exist; they have existed for all time; there is always a well-known solution to every human problem—neat, plausible, and wrong." -- H. L. Mencken I am not saying that the ideas you have listed are not without merit, however to say they will fix the 21 Century is a bit over reaching.
It's sounds wise and cynical, but is there actually evidence for this? I'm not saying any of this is easy to do, but that's because politics and reform is hard. Not enough people can agree what to do != no one can know what to do. With fields like "mechanism design" we've blurred the distinction between central planned and distributed economics too; never have we had a better menu of options.
Re: Why a land-value tax is inevitable
#299Earlier quoted context omitted.
Modern Monetary theory is theory not policy. The jobs guarantee that goes with it I really don't like. It's stupid in 2020 to not be trying to reduce the total labor per person. Sure, some infrastructure projects are really important, not profitable, and might even require the training of new labor to get it done. They should definitely still happen. But I see no good reason to hitch that to jobs guarantee.
Reducing labor as a goal seems rather odd. Why do you feel people should not have the freedom to work? What would you rather people do instead?
Fact: Productivity growth stars exceeding whole economy growth sometime in the 1970s.
Rather than a shrinking workday or mass unemployment, we get mass underemployment. What this means is no one can survive without a job so inefficient or pointless work grows rapidly, fed by the margins of the labor market. This ultimately discourages further investment, technological progress, and will lead to falling median productivity and then mean productivity.
This is extremely dangerous for society. We'll end up paupers in the ruins of our past greatness. Maybe we already have, if one looks at our infrastructure.
Basically, you can think of the lack of a UBI as https://en.wikipedia.org/wiki/Dumping_(pricing_policy) on the labor market.
Re: Why a land-value tax is inevitable
#300Earlier quoted context omitted.
Reducing labor as a goal seems rather odd. Why do you feel people should not have the freedom to work? What would you rather people do instead?
Let's look at this in aggregate: Fact: Productivity growth stars exceeding whole economy growth sometime in the 1970s. Rather than a shrinking workday or mass unemployment, we get mass underemployment. What this means is no one can survive without a job so inefficient or pointless work grows rapidly, fed by the margins of the labor market. This ultimately discourages further investment, technological progress, and wi…