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Mark Wadsworth

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About Mark Wadsworth

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  1. 1. It would be a replacement tax, that's the only way to sell it politicially (cue heated debate on what the worst taxes are, by which the worst taxes are not necessarily the most hated ones). I've never met a land value taxer yet who didn't have a list of taxes he or she would like to reduce or replace. 2. As to your second question, why would duture purchasers care? If it's an additional tax, then that comes off the price of the house, so it's no loss. What you lose in LVT you save in mortgage repayments.
  2. A tax is borne by the least elastic factor. Smokers are addicted and hence insensitive to price. Cigarette manufacturers would be just as happy making ice cream. So the smoker pays the tax. Supply of land (or location) is 100% inelastic. Demand from tenants or purchaseres is elastic. So the landlord or vendor bears the tax. LVT would be on annual rental values anyway, just like Business Rates so price changes are nigh irrelevant http://kaalvtn.blogspot.co.uk/2013/01/o-land-prices-are-real-wealth-or-capital.html#6 or to get the ball rolling, we do like Council Tax and set the tax as a % of selling prices at a fixed point in time (as approximation of rental values) and then it does not matter if prices go up or down. http://kaalvtn.blogspot.co.uk/p/valuations-and-potential-lvt-receipts.html
  3. Well, there's real life and "things which people say on the internet" and I'll stick with real life thanks. I've compiled some actual real life evidence here to show that with Business Rates the tax is not passed on to the tenant, http://kaalvtn.blogspot.co.uk/2013/01/q-businesses-will-go-bankrupt.html#1 paragraph (d) it is not passed on in higher prices, http://kaalvtn.blogspot.co.uk/2013/01/q-businesses-will-go-bankrupt.html#4 it is borne by the landlord (the least elastic factor of production). Or why do you think that the large landowners and landlords are so dead set against Business Rates (which is pretty close to LVT).
  4. Your guesses are as good as mine. My guesses are "certainly not", "never" and "very few that I can think of" Remember - Lucas' bill is just for some background work to be done on how it could be implemented, how much it would raise etc, it's not a proposal to actually have it. I suppose it is possible that they will pass the bill and then manufacture some evidence that it can't possibly work and wouldn't raise any money, which would possibly be worse because I'll have idiots quoting it at me for ever more.
  5. That is an excellent point which most people overlook. There is absolutely no point in taxing farmland with one hand and subsidising it with the other. A lot of LVTers refuse to understand this. Before we even start thinking about taxing farmland (which would merely claw back two -thirds of the subsidies or something, the rest gets swallowed up by supermarkets), let's just reduce the subsidies and see what happens. And yes, the SPS is sort of an EU thing, each country can set its own rates. Spain only pays EUR 144 per hectare, Denmark pays EUR 356 per hectare. The UK is fairly high at EUR 283 per hectare. But as per usual, I have covered all that here. http://kaalvtn.blogspot.co.uk/2013/01/r-farmers-will-all-go-bankrupt.html
  6. Easy. I've covered that here http://kaalvtn.blogspot.co.uk/2013/01/n-valuations-are-impossible.html#1 and here http://kaalvtn.blogspot.co.uk/2013/01/c-land-doesnt-generate-income.html#1 Exactly like Business Rates and Council Tax - all valuations and bandings are publicly available and easily accessible online, as they will be for LVT valuations and bandings. So you can compare and contrast. If the shop next door is identical to yours but has a suspicioulsy low rating, and you happen to know the proprietor is good mates with a local valuer... And the farmers' lobby does very, very well out of negative land value tax, i.e. farm subsidies of about £80 per acre. Before we even think about taxing farmland, how about treating it like forestry land - which gets not a penny in subsidies and all income and gains is more or less completely tax free. https://www.gov.uk/the-single-payment-scheme http://www.econ.kuleuven.be/licos/publications/dp/dp293.pdf
  7. well yes, this is one of the supposed Killer Arguments, that all farmers will go bankrupt but the city centre landlord will be paying next to nothing. The key word here is "VALUE". http://kaalvtn.blogspot.co.uk/2013/01/q-businesses-will-go-bankrupt.html#1
  8. @ Erat Forte, Erranta, Northampton Bear, Blizzard & What's'isname and others. Keep up the good work :-)
  9. That is stating the obvious. I might as well say "Even income tax would not be based on your income if your payroll lady didn't calculate your PAYE correctly each month and if HMRC estimated your annual income based on previous years instead of you submitting a tax return" so how on earth is that an argument against LVT? Oh... it isn't. http://kaalvtn.blogspot.co.uk/2013/01/n-valuations-are-impossible.html#2
  10. Nope, LVT is exactly what everybody says it is, a tax on the "annual site premium" attaching to any site, assuming it is in optimum permitted use (and given how strict plannign laws, we can assume that means 95% of developed land is on optimum permitted use). And that site premium is easily calculated to within a tolerable margin of error. Selling prices have little to do with it, except as a rough guide to annual site premium and "land value" is a bit nebulous. I've summarised it all here http://kaalvtn.blogspot.co.uk/p/valuations-and-potential-lvt-receipts.html We've done all this before.
  11. yes, Robin Smith is standing for us at Croydon North by-election on 29 November. We haven't got anybody in Rotherham or Middlesbrough by-elections.
  12. Absolutely spot on correct. The way forward is to start small and get rid of a couple of regressive taxes (TV licence and Council Tax) and a couple of jealousy surcharges (IHT, CGT, SDLT) as well as vaguely wealth related bits and pieces like Insurance Premium Tax all in one go. This is all in the YPP manifesto.
  13. hee hee, I just saw that programme, it was basically a half hour party political broadcast for the Young People's Party YPP, Jeff Randall has done our work for us :-)
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