Friday, December 7, 2012

One step at a time…..

Council tax on second and empty homes in Camden to rise

London's Camden council has announced plans to remove some council tax benefits currently enjoyed by owners of second and empty homes.

Posted by tom101 @ 12:38 AM (1681 views)
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7 thoughts on “One step at a time…..

  • happy mondays says:

    This is a start & Great news…. I watched newsnight last night, which was good viewing on the economy & seems at last people are recognizing the fact that the cost of living especially housing in this country is bloody expensive .. Viva la revolution

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  • mark wadsworth says:

    Yeah!

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  • Hopefully raising land value tax on the wealthy will lead them to make arguments for them to reduce it for all. That is the principle benefit of raising money on the rich, because then we get more vocal people campaigning against taxation.

    Marx’s justification based on redistributing wealth to deal with exploitation is pure nonsense, since all these taxes will do is mean that the wealthy have less cash to invest in the economy. That means, less jobs.

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  • Again, the housing bubble is caused by artificially low interest rates. It is not due to a lack of taxation, by any stretch of the imagination.

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  • And Marx, none of that cash is going into your pockets. All you will get is austerity whilst the cash is lavished on banksters and bombs.

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  • Marx, aka, Mark Wadsworth, you forget that the principle reason people have spare homes, is as a method of savings, because they don’t get sufficient interest on savings accounts. Therefore, a tax on land which does not resolve the issue of artificially low interest rates will exacerbate rather than solve the problem.

    As said, we didn’t have this problem before, and taxes are higher now than they once were so, a lack of taxes, any taxes is not our principle problem. Our issue is a lack of free markets. A free market rate of interest on deposit accounts would cause people to sell their homes and see risk free capital gains on their bank accounts.

    Indeed, to help that along, if the government eliminated tax on bank interest, that would be a further incentive to put money in a bank rather than in property, for investment purposes. So, there again, you find a way to raise taxes to solve a problem which can be better resolved with lower taxes, but you will still cuss me for not following your band wagon.

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  • mark wadsworth says:

    Piddly, yes, interest rates are artificially low, but this is a Home-Owner-Ist thing to keep the bubble going.

    If land rents were not collected privately and house prices much much lower and taxes on production were lower or ideally nil %, then by definition people would have mroe spare cash and would put their spare cash into productive businesses (either by spending it, lending it or investing it) – they wouldn’t be able to speculate much on land values if the purchase price of land were negligible or nothing – and interest rates would be rather much higher (being a return on actual productive assets rather than a made up figure).

    So replacing taxes on the productive economy with LVT very much sorts out that little problem as well. Even if it were an additional tax and we used it to e.g. pay off the national debt, there would still be positive effects from introducing LVT.

    I suppose I ought to say thank you for all these stupid arguments of yours which are in fact arguments IN FAVOUR OF LVT, if you stick to actual facts and logic and observable real world stuff instead of spouting Faux Lib nonsense 🙂

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