1. (2013 September) Social Media:The Taxing Question of Land

Yoni Higgsmith and Jamie Noel recently created a thirty minute documentary called The Taxing Question of Land. They both have experience in the film and television industry, and it was fortuitous that they decided to apply their skills towards the promotion of LVT. The film was released at Royal Society for the encouragement of Arts (RSA) in London a couple of weeks ago for an audience of 300. Watch the film using the link below.

http://www.youtube.com/watch?v=1pYSsME_h7E

In the months proceeding the release of the film, the team raised £9,170 of the £9,000 target from 103 backers through crowdfunding. The LVT facebook community alone raised £1,000 of that and participated in the creative process, providing feedback on the script.

 

3 thoughts on “1. (2013 September) Social Media:The Taxing Question of Land

  1. The 14 points about LVT are summarized below (see my comment on the Youtube comment list) affecting Government, Land Owners, Community and Ethics
    3 aspects for GOVERNMENT
    1. LVT, adds to the national income. .
    2. The cost of collecting the LVT is much smaller than for income tax and other production-related taxes.
    3. With LVT, the national economy stabilizes and no longer experiences the 18 year housing boom and bust cycle.
    6 aspects affecting LAND OWNERS
    4. LVT is progressive, the owners of the most potentially productive sites pay the most tax.
    5. The land owner pays his LVT regardless of how the land is used. When the land is leased to tenants most or all of the resulting ground-rent is the tax.
    6. LVT stops the speculation in land prices because any withholding of land from proper use is too costly.
    7. The introduction of LVT reduces the sales price of sites even though their value (or potential usefullness) may continue to grow.
    8. With LVT, land owners are unable to pass the tax on to their tenant renters, due to the competition for land use.
    9. With the introduction of LVT, land prices will drop. Speculators in land values will tend to foreclose on their mortgages and to withdraw their money for reinvestment. LVT should be introduced gradually. It allows investors sufficient time to transfer money to company-shares where their greater use will meet the increased demand for produce (see below).
    3 aspects regarding our COMMUNITY
    10. With LVT, there is an incentive to use land for production, rather than it laying idle or being partly used.
    11. With LVT, greater working opportunities exist due to cheaper land and a greater number of available sites. Consumer goods become cheaper because entrepreneurs have less difficulty in starting-up and running their businesses. Demand grows, unemployment decreases
    12. As LVT is introduced, investment money is withdrawn from land and placed in durable capital goods.
    2 aspects about ETHICS
    13. The collection of taxes directly from productive effort and commerce is socially unjust. LVT replaces this form of extortion by gathering the surplus rental income which comes without exertion. Consequently LVT is a natural system of money-gathering.
    14. Bribery and corruption cease with LVT. Before, this was due to the leaking of news of municipal plans for housing development.

  2. The film is almost excellant but it avoids the point that a speculator in land values is holding the most likely to be useful land out of use. This has two harmful effects:

    1. It causes the competition for available sites to become more fierce. This makes the cost of using the land nearby greater, with the result of higher prices of the produce. This in turn reduces demand and raises the amount of unemployment, poverty etc.
    2. The smaller amount of available land means that entrepreneurs are more limited in where they can set up new businesses, if at all! This has the same adverse effects as noted above.

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