Here’s more good press from Jesse Myerson, who wrote a very popular article last year about the economic reforms that millennials should support. Land value taxation is listed as such a reform in both articles. Myerson discusses racially discriminatory land policies and then posits that the Georgist remedy would help lift black people out of poverty.
“…we must shift from taxing labor and toward taxing monopoly and land rents. The American political economist Henry George, whom [Martin Luther] King cited in his economic advocacy, famously proposed a 100 percent land-value tax as the only tax capable of ensuring equality amid economic development. As the board game Monopoly (invented by George devotees) makes clear, even when everyone starts with equal money, private rent extraction inevitably directs all funds into a few hands. George saw taxing the full rental value of land as the only way to develop an economy equitably—that is to say, without producing poverty constantly. “
“When the United States had lots of free land, immigration was actively encouraged, because everyone benefited from it. Well, guess what? The US doesn’t have any FREE land today — but it has lots and lots of unused land. And a very big portion of that unused or ill-used land (in terms of its value, which is the important consideration) is in urban areas — exactly those areas toward which new immigrants gravitate, to struggle and strive in this land of opportunity.”
“The cartel counts illegal mining, logging and extortion as its biggest moneymakers, said Alfredo Castillo, the Mexican government’s special envoy sent to restore the rule of law in Michoacan, the state controlled by the Knights Templar the last several years.”
“So, at least in the narrow context of racial wealth disparities driven by racial divergence in “home values” over the course of ownership, an LVT could serve to check racial wealth disparities.”
In this article, fellow Georgist Fred Foldvary asks the reader to do some drawing exercises meant to demystify aspects of Ricardo’s Law of Rent.
“Labor benefits from the greater productivity, but landowners benefit more.”
While the US is recovering from the 2008 real estate crash, other countries, such as the UK, are in the midst of a boom. Furthermore, London has become a haven for land speculators, many from southern Euro-crisis countries looking for a safe place to park their money. Renting in London has become so expensive that one young professional actually saves by flying from Barcelona each day.
“People are aware that they cannot continue in the same old way but are immobilized because they cannot imagine an alternative. We need a vision that recognizes that we are at one of the great turning points in human history when the survival of our planet and the restoration of our humanity require a great sea change in our ecological, economic, political, and spiritual values.”
~Grace Lee Boggs
“Washing one’s hands of the conflict between the powerful and the powerless means to side with the powerful, not to be neutral. ”
“The point of modernity is to live a life without illusions while not becoming disillusioned.”
“Peace is not the product of terror or fear. Peace is not the silence of cemeteries. Peace is not the silent result of violent repression. Peace is the generous, tranquil contribution of all to the good of all. Peace is dynamism. Peace is generosity. It is right and it is duty.”
“There can be no liberty unless there is economic liberty.”
“There are no hopeless situations; there are only men who have grown hopeless about them.”
~Clare Booth Luce
“When we tug at a single thing in Nature, we find it attached to the rest of the world.”
“We are now faced with the fact that tomorrow is today. We are confronted with the fierce urgency of now. In this unfolding conundrum of life and history there is such a thing as being too late. (…) We may cry out desperately for time to pause in her passage, but time is deaf to every plea and rushes on. Over the bleached bones and jumbled residues of numerous civilizations are written the pathetic words ‘Too late.’ ”
~Martin Luther King, Jr.
“Life is a process of becoming, a combination of states we have to go through. Where people fail is that they wish to elect a state and remain in it. This is a kind of death.”
“Every time you spend money, you’re casting a vote for the kind of world you want.”
We Need a Land Value Tax, Not a Property Tax Cap
By Scott Baker (Common Ground NYC)
Land, unlike manmade capital, is finite, generally increases in value wherever location and population pressures are applied, and is the single leading cause of booms and busts in the financial cycle (there really is no such thing as a “business cycle”). Whereas capital, like buildings, can always be increased or decreased to suit market demand, land cannot. Therefore, the value of land belongs to the community that created it, to be collected via taxation, while the value of the buildings upon it are production, and belong to those who produce them.
“Truth never damages a cause that is just.”
“Every gun that is made, every warship launched, every rocket fired, signifies in the final sense a theft from those who hunger and are not fed, those who are cold and are not clothed.”
~Dwight D. Eisenhower
“There may be times when we are powerless to prevent injustice, but there must never be a time when we fail to protest.”
“When a man tells you that he got rich through hard work, ask him: ‘Whose?’ ”