LVT in declining cities.
- @Chuck Metalitz,
Dan Sullivan's slogan Come to our town and you won't pay local income tax sounds a good idea.
But in the UK we don't have local income tax ,anywhere.The only cloud on the horizon is the Liberal/Democrats who in the UK locally are just like the Conservatives but more extreme, seeking to eliminate all public sector spending which they invariably describe as a waste of taxpayers' money ,even when the public schemes are miles cheaper than private sector equivalents and are not "price regressive",so that the less well-off can't afford to pay them. Introducing local income tax is official Lib Dem policy for replacing the local property tax,the Council Tax,the old Liberal commitment to LVT having been well and truly jettisoned,though lurking Lib Dem figures ,the talented Vince Cable and Chris Huhne, are known to harbour secret LVT sympathies and grassroots land tax supporters fight grimly on .
The point I was trying to make is that LVT needs financial backing if it is going to work in places with declining populations and land values.Which is why I favour the so-called Sentinel LVT which only switches on when land values start inflating dysfunctionally,this to be attached to a massive increase in the supply of credit or money,whether by "Keynesian" low interest rates (+possibly Keynesian import controls to stop the money being spent on imports),or by localised Social Credit dividends (is this what City Divs are ,see Jeff.Smith?),or directing public sector employers there,or Gesellian stamp money or modern equivalent (time limited bank withdrawal cards?) or whatever.I even think that the recent over-leveraged banking bubble could have worked out less disastrously with LVT in place,in the UK anyway,(not that this is provable either way.)
As it is the Uk has given a dividend of hundreds of pounds of month by reducing interest rates and consequently mortgage repayments.Brilliant!A national Dividend but just to certain types of mortgage holder.But the whole UK economy has been based on the Douglasite principle of augmenting some people's earnings with unearned income though for homeowners only since 1963, (when they abolished the Income tax schedule which treated domestic property values as a form of income.) A Conservative policy naturally. The Bullingdon Club vandals have always been there.(Under the Conservative table lying in vomit but bellowing and catching at people's ankles.)
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- On Apr 1, 2010, at 12:32 AM, David Reed wrote:
The point I was trying to make is that LVT needs financial backingPlease show when where. Thanks.
if it is going to workNeeding backing is not working. Two different things.
in places with declining populations and land valuesSome places pumped up site values by shifting the property tax, Jo-burg for instance.
Which is why I favour the so-called Sentinel LVT which only switches on when land values start inflating dysfunctionally,they start post-tax.
localised Social Credit dividends (is this what City Divs are ,see Jeff.Smith?Some do bundle the two, but I see them as way different, using the dictionary definitions of credit and dividend. A rent share is a rent share. New money is new money.
I even think that the recent over-leveraged banking bubble could have worked out less disastrously with LVT in place,in the UK anyway,(not that this is provable either way.)