Anarchism is not a romantic fable but the hardheaded realization, based on five thousand years of experience, that we cannot entrust the management of our lives to kings, priests, politicians, generals, and county commissioners.
Prev story: Difficult times
Next story: Jock's Christmas Climate Heresy?
Land Tax fail: do we pay members of the Monetary Policy Committee?
02
12
09
12
09
Land Tax fail: do we pay members of the Monetary Policy Committee?
tagged with:
Adam Posen, a member of the Bank of England’s Monetary Policy Committee has opened a catering sized can of worms, reported in today’s Telegraph
“Adam Posen, a member of the Bank's Monetary Policy Committee, said that the Government should consider slapping extra taxes on British properties, suggesting that in future homeowners should have to pay an extra charge if prices rise too fast. In comments which will cause extreme disquiet in the Treasury, he even indicated that this may mean imposing capital gains taxes on first homes and raising stamp duty”.
Now, fair play to the guy, I guess for even broaching the subject. Such bubbles are not earned rewards, but the result of existing policy preventing the market adjusting to the demand quickly enough and other policies putting more pressure on particular areas. Not only that, but they are effectively a zero-sum game - for those who gain, others have to lose out - on the cost of renting often or on their increasing inability to afford to join in the housing boom.
But the real and permanent mechanism is to base all our tax system on land value taxes instead of incomes and profits and sales. A land value tax will collect more, naturally, when the market overheats and prevent bubbles forming, not punish them when they do, or wait till sales happen to charge an extraordinary tax.
Relevant Content
Here are some stories that may be on related subjects, based on the tags used in this post:
- 29.04.09: Budget Live-Blogging - Unemployment, Development, Agiculture and Roads
- Neither a borrower nor a lender be...
- Vince and George: both singing from the statist hymn-book
- People's Budget Day
- General Election: March 26th or June 4th?
- "A bold, imaginative, exciting,..." way to line the pockets of lazy landowners
- Land and Libertarians
- Taxing the rich - Fraser's error
- Why do we bother making policy, Don?
- Land. Value. Tax.
Recent Popular content
|
Blogosphere of the Libertarian Left Ring Owner: Thomas Knapp Site: Blogosphere of the Libertarian Left |
||||
 |
 |
 |
 |
 |
|
Get Your Free Web Ring by Bravenet.com |
||||
Jock's Blogroll
(click on each category button to expand the list)
(click on each category button to expand the list)
My Political Spectrum
My Political Views
I am a far-right social libertarian
Right: 7.86, Libertarian: 7.82
BUT - See my objections to this here.
Political Spectrum Quiz
My Foreign Policy Views
Score: -6.43
Political Spectrum Quiz
My Culture War Stance
Score: -5.48
Political Spectrum Quiz
I am a far-right social libertarian
Right: 7.86, Libertarian: 7.82
BUT - See my objections to this here.
Political Spectrum Quiz
My Foreign Policy Views
Score: -6.43
Political Spectrum Quiz
My Culture War Stance
Score: -5.48
Political Spectrum Quiz
Jock's Place Archives
Click on the month to see a list of my blog posts for that month.
Comments
Post new comment