Friday, September 19, 2008

The case for Land Value Tax in twenty one words.

Letters page

On the topic of "Speculations on the credit crunch" ... "How about reducing interest rates and stopping the cheap credit being diverted into another housing bubble with a land value tax?" DBC Reed, Northampton

Posted by mark wadsworth @ 01:46 PM (805 views)
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6 thoughts on “The case for Land Value Tax in twenty one words.

  • There are people in this world who think that LVT is the way forward. They are pioneers and they must continue their vital work. The LVT perception problem lies with its simplicity. It is such a simple, elegant solution that the human mind has problems accepting it. “There must be a catch”

    The second hurdle: LVT strikes right at the heart of the current system. The vested interests don’t want this so when the momentum starts they will scare tactic the sheeple into their own economic death under the guise of “helping the make the right choices.”

    When we eventually succeed with the implementation – which we will – the misery and folly that has been experienced over these mad years will be a held up as a testament to human stupidity.

    Younger generations who look at the baby boomers and alike with both disdain and bemusement are far more interested in dedicating themselves to a cause not a corporation. The corporate dollar is dead.

    LVT is the tax system that will trigger renaissance and allow future generations to genuinly maximise thier potential. The transitional period during introduction will be challenging but provided the vision is correctly communicated it will bind communities. Genuinely exciting.

    The other hope: Faith n Globalisation propounded from the mouth of the worlds biggest con man – that ain’t going help anyone.

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  • WTF!

    DBC Reed, Northampton, is a moron; lower interest rates will not help, until the banks trust each other enough, and a land value tax will just hurt people with sensible-sized, older houses, and ensure more rip-off property, including rented, without enough space to “swing a cat”.

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  • mark wadsworth says:

    @ Urbanbear.

    1. As a politically moderate sort of person, I have always said that LVT should not be an extra tax. On Day One, it could and should replace all existing property-related taxes:Council Tax, Business Rates, Stamp Duty Land Tax, Inheritance Tax, Capital Gains Tax, VAT on domestic fuel and home improvements, the TV licence fee etc etc. So no particular group will be ‘hurt’. And pensioners would be allowed to roll up unpaid tax to be repaid out of the estate. And even if it were true that people in big houses would lose out slightly, at least those stuck on tiny houses and flats would be better off. Whose side are you on here?

    2. Property sizes have steadily decreased precisely because residential land has become so expensive – it has gone up five or tenfold in value since the 1995 trough. Ergo, if LVT keeps land values down, for the same cost, you get a much bigger garden. Or you get the same sized house/garden for a much lower cost. That’s up to the local planning department anyway.

    3. Lower interest rates will help the productive economy, I don’t see how you can dispute that simple truth?

    4. DBC Reed is a top thinker and would happily explain this to you in 10,000 words. But newspapers prefer short letters…

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  • mw – still thinking in the box someone put you in then

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  • uh oh!

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