There has long been a mistaken assumption in #Georgism circles that #landlords cannot pass on the cost of higher #LandValueTax onto #tenants, but that has never been true.
Landlords do not pay #LVT unless they have no tenants. The land user is the one that pays, not the land owner. The landlord merely acts as intermediary.
#Taxes are always and only ever paid by the only entity who cannot shift them—the end user.
We have not yet begun to discover how high land rents can rise. …
' The more banks lend, the higher real estate prices rise, thus encouraging more bank lending. As mortgage debt service rises, more of household income and more of the rental value of real estate are paid to the financial sector. When the imbalance becomes too large, the bubble bursts.
(T)he goal of creditors is to capture the entire economic surplus of a country into payments of debt service. '
#PublicBanking #JustRent #LandValueTax #Economics #MMT
https://www.counterpunch.org/2016/02/03/why-michael-hudson-is-the-worlds-best-economist/
The problem for Americans is that both political parties regard the needs of the American people as a liability and as an obstacle to the profits of the military/security complex, Wall Street and the mega-banks, and Washington’s world hegemony. The government in Washington represents powerful interest groups, not American citizens. This is why the21st century consists of an attack on the constitutional protections of citizens so that citizens can be moved out of the way of the needs of the Empire and its beneficiaries. Hudson learned that economic theory is really a device for ripping off the untermenschen. International trade theory concludes that countries can service huge debts simply by lowering domestic wages in order to pay creditors. This is the policy currently being applied to Greece today, and it has been the basis of the IMF’s structural adjustment or austerity programs imposed on debtor countries, essentially a form of looting that turns over national resources to foreign lenders.
A political choice to protect incumbent asset values at the cost of supply,
affordability, and access.
The human cost isn't abstract:
→ Los Angeles County: 75,000+ homeless by early 2020s
→ London: rough sleeping doubled in a decade
→ Vancouver: tent encampments in public parks
Mental illness and addiction rates didn't spike. The housing floor was removed.
https://thinkingprospectus.substack.com/p/the-urban-condition-promise-crisis
Now two permanent classes:
Class 1: owned before prices exploded. Wealth grew through timing, not effort.
Class 2: permanent renters, transferring rising income to Class 1, indefinitely, with no path to equity.
In strict economic terms: a rentier system.
The enforcement mechanism: zoning.
Across North American cities, the vast majority of residential land is zoned
exclusively for single-family housing. Not a neutral planning decision.
#PoliticalEconomy #LandValueTax #Urbanism
Henry George named this mechanism in 1879. It remains the most accurate
description of the urban housing problem we have.
The decisive transformation: housing financialization.
Deliberate policy choices — deregulated mortgages, capital gains tax breaks, withdrawal of social housing investment — converted residential property from a social good into an investment asset class.
The consequences were predictable. And predicted.
#PoliticalEconomy #Infrastructure #LandValueTax #UrbanPlanning
The city was humanity's greatest wager: that density creates opportunity, that proximity generates possibility, that strangers pressed together build something larger than themselves.
For most of history, that bet paid off. Then we systematically broke it.
https://thinkingprospectus.substack.com/p/the-urban-condition-promise-crisis
#Urbanism #HousingCrisis #AffordableHousing #ZoningReform #PoliticalEconomy
#SocialHousing #CityPlanning #Housing #YIMBY #NIMBY #Gentrification
#Homelessness #Infrastructure #LandValueTax #UrbanPlanning #Fediverse
' You'll find buildings like this all over the place. A building like this could get filled if the goal was higher occupancy rates, but that's not the primary goal.
The system isn't collapsing, it's financializing, and that changes how the market behaves; it can make it seem nonsensical from the perspective of the renter because none of the goals are really for the renter. '
https://www.youtube.com/watch?v=C9L12HUuI40
#urbanism #housing #rentseeking #PoliticalEconomy #LandValueTax #LVT #Economics #monopoly
I am cautiously optimistic about Amanda Janoo running for #VTGovernor, but as I've already said, I want to see concrete policy proposals, not vague ideations.
#VTDems need to wake up to the new realities of our nation and the challenges we actually face as a state in it.
#GunControl is a non-starter, so ban it from your vocabulary. We need #LandValueTax and #PublicBanking, first and foremost. We need #urbanism and #redevelopment.
https://www.sevendaysvt.com/news/amanda-janoo-announces-bid-for-vermont-governor/
Based on the local data, I think my elevator pitch for a #LandValueTax is gonna be like this, more or less...
Under the current system, most of us pay a little bit too much property tax, to subsidize vacant buildings and empty lots that pay far too little.
The system hasn't totally collapsed because, if you're doing business, paying water and electric and gas bills, paying employees, then property tax isn't your only expense.
🧵
If only someone could have foreseen 140 yrs ago, looking at our great coastal cities like SF and NYC, this correlation between high land prices caused by economic progress and burgeoning of #poverty.
He could have written a book called #ProgressAndPoverty. His name could have been #HenryGeorge.
#urbanism #LVT #LandValueTaxSolvesThis #WeMustMakeLandCommonProperty #LandValueTax #SingleTax #Georgism #housing #homelessness #USpol
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