@harding
Replacing a progressive income tax with a progressive #landTax might help *wink
Progressive means it goes up based on the amount of #rentalValue land one owns, regardless of whether it is rented on not.
(2/2)
What if on tax day, We the People (aka govt) rolled a dice…
And if the number is a 1 to 3 then, forget #profitLoss based taxes and Progressive #IncomeTax. Instead tax is squarely focused on Progressive Land Tax based on the improved value of the #land (aka #rentalValue).
What do you think?
Can some 'constructive ambiguity' help to limit the excesses and destructive behaviours of the #kleptocratic few.
(In Australia we already have a GST and we are not suggesting changing that)
A few words of warning from #Australia about the #CapitalGainsTax that #Biden is proposing.
It may be okay in itself, but no matter how the #tax is applied, if you give them a chance to offset their gains with loses, you still end up with the biggest, most #wellConnected #kleptocrats finding mates to lose money too, to circumvent paying tax.
It really does become a game, a racket, to these players.
A #ProgressiveLandTax on #RentalValue is fairest.
@nygal
*Silently supports a #ProgressiveLandTax based on #rentalValue of the #land, because the extremely wealthy and well-connected game #profitLoss-based #taxation so they never pay taxes.*
Also #incomeTax doesn't much sense, when compared to #consumption and #landTax'es
And some people just own too much land and engage in #rentseeking that drains the real #economy.
@clacke @profoundlynerdy @changaco @kravietz
(2/2)…Also FutureWork of the AustraliaInstitute found that the bureaucracy surrounding #UnemploymentSupport including #enforcement and other auxillary services costs around 100 billion per annum, and that a #UBI would cost around the same amount.
Also removes a perverseIncentive to buy property as a nestEgg for the kids and the need to pump a country with more people to boost house prices etc.
(Also see our Progressive #LandTax (on #RentalValue))
@meowski
#FractionalReserveBanking is a scam hidden with #complexityTheatre.
The #HenryGeorge model of #LandTax based on improvedValue (aka #rentalValue). You would make it progressive, starting at 15% of rentalValue to 50% for the extremelyWealthy.
For grandma a #UBI (from landTax that goes up a bit with age will help (1.6 units of UBI) For one child, half a U approx. Two, 3/4 U. No extra support for 3rd/4th children.
At adulthood 1U increasing with age.
@realcaseyrollins @alex @sean @moth
@fruechtchen
#LandTax reform now. Tax 15%-50% of the #rentalValue of the land depending on how much they own. If a person owns too much #RentalValue, including in #trusts they have two years to sell #land until they are below the threshold, or face #prison time.
Watch how this solves a lot of #inequality issues.
:)
#geoism #georgism #HenryGeorge #progressAndPoverty #book #reading
Is it possible to radically simplify #tax and #socialSecurity by removing all #profitLoss garbage, so manipulated by the #powerElite, to instead focus all taxes on #landTax (based on #rentalValue/#salePrice) and #GST (on #manufactured/#nonEssential items, see #Australia)?
A #btcFuture will be different. It could be more #equitable…
…but only if we demand it.
LandTax could start at 15% of the rental value and increase based on the amount of #landValue owned by the person, to 50%.
Thoughts?
@nerdman
That's about the size of the #militaryBudget per year when you factor in all the underground elements.
The #securityState apparently "lost" abour 20 trillion between 2000 and 2015.
The #centralBank just printed trillions as a #bailout for #covid19. Half a trillion apparently going directly to the #billionaireClass.
If we know the #UBI is a dividend of the nations yearly income we won't take it for granted. Minimise #taxAvoidance with #landTax based on #rentalValue.
@kaikatsu @kino
Is there a better #tax?
Yes, the wealthy use phony profit-loss statements go avoid tax - but you can't hide land.
It's called #LandTax on improved value (aka #RentalValue). It basically makes #profitAndLoss-based #taxAvoidance impossible.
Land Tax on Rental value can be applied to #land no matter who owns it. The extremely wealthy use every trick they know to avoid a more effective #taxation system.
Now's our chance to get it done.
Dick Smiths Fair Go Supporters