Tuesday, September 2, 2008

Yup. It’s that simple.

Readers' letters

"Alistair Darling's "Clueless in Lewis" interview is more alarming for the fact that the Conservative opposition has even less idea and that this lack of basic economic understanding has been around for decades. You cannot lower interest rates to stimulate demand without cheap credit being diverted into house-price rises and then bubbles. The answer is to block the credit going into housing with a tax. As the inflationary element in the price of a house is the land underneath, that is what you tax. It really is as simple as that. DBC Reed, Northampton"

Posted by mark wadsworth @ 09:49 PM (637 views)
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6 thoughts on “Yup. It’s that simple.

  • dbc reed – isn’t that one of us?

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  • mark wadsworth says:

    Yup. I know him from the Labour Land Campaign.

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  • The Tories will not dare to even suggest using a tax to block the flow of money or credit anywhere unless they can conjure up a ‘green’ excuse. They long ago trapped themselves up a dead end road as far as tax goes with their ‘party of lower taxes’ mantra. Don’t get me wrong, they will suck pretty much the same amount of tax from us as any other party, one way or another. They just can’t say in public that they will introduce any new taxes even if it is the correct course to take.

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  • Planning4acrash says:

    Nah, the solution isn’t to divert credit from houses. Its to stop credit! We need sound money folks! If you divert it, you produce a state intervention that will result in the law of unintended consequences. A bubble elsewhere. All bubbles are dangerous. Inflation is a tax and is caused by undue growth in the money supply.

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  • gardeniadotnet says:

    I’m afraid party politics is something of an irrelevance now. Even Vince is nowhere near the truth (on the record, anyway).

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  • nickolarge,

    We certainly can’t expect a Land Value Tax from the Conservatives. The core Tory voters are southern, older, and asset-rich; precisely the groups who would suffer most from LVT.

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