Resources

Location Value Covenants are a proposal for collecting annual rental values without the pain, routing around the roadblocks, avoiding economic seismic events and of course in a politically achievable way.

https://sites.google.com/site/systemicfiscalreform/Home/location-value-…

The Systemic Fiscal Reform Group believes that any cure to the economic malaise must include development of an alternative to the private bank mortgage. From an economic perspective, the mortgage has three serious defects :

* repayments are linked to interest rates rather than market value

ABSTRACT. The world's peoples are demanding: who should be the Lords of the Land or-should anyone be? By what right does anyone acquire the privilege of monopolizing that which should be the her- itage of all? A century ago Henry George saw the nature of this ques- tion, the land question, outlined the solution and foresaw the conse- quences if we failed to address it.

by Herman Daly, originally published by The Daly News | JUL 19, 2010

Economists have traditionally considered nature to be infinite relative to the economy, and therefore not scarce, and therefore properly priced at zero. But the biosphere is now scarce, and becoming more so every day as a result of growth of its large and dependent subsystem, the macro-economy. As the macro-economy expands into the ecosystem it displaces what was there before, namely habitat of other species (and of indigenous and poor members of our own species).

Linked is a 30-minute interview where I argue why governments should finance programs like health care, education by collecting economic rent in lieu of taxing jobs, businesses and consumption.

Economists have traditionally considered nature to be infinite relative to the economy, and therefore not scarce, and therefore properly priced at zero. But the biosphere is now scarce, and becoming more so every day as a result of growth of its large and dependent subsystem, the macro-economy. As the macro-economy expands into the ecosystem it displaces what was there before, namely habitat of other species (and of indigenous and poor members of our own species).

The Aim of Liberal Democrat Action for Land Taxation and Economic Reform (ALTER):

"To improve the understanding of and support for Land Value Taxation amongst members of the Liberal Democrats; to encourage all Liberal Democrats to promote and campaign for this policy as part of a more sustainable and just resource based economic system in which no one is enslaved by poverty; and to cooperate with other bodies, both inside and outside the Liberal Democrat Party, who share these objectives."

Whenever a new public service is introduced to an area, or an existing one upgraded, this increases land values in the vicinity, thus benefiting owners of land in the area, at the expense of taxpayers. With LVT in place, the public at large would get back a major share of the increased value, so that, in effect, the project could become self-financing.

Many economists, across the political spectrum, have urged the use of land value capture for public benefit (site rental or land value taxation) as a means to derive public monies rather than taxes on capital and labour. The following is a collection of quotes from some of the greatest economists who have advocated this approach.

“Land tax is an important vehicle for transferring some of the benefits of land privatization to the public sector. Revenues from land tax can fund significant and increasing portions of infrastructure and social services, fostering public and local government support for privatization.”

To emerge from semi-feudal economic stagnation Latvia needs to move its tax burdon off labor and its employers and onto where the classical economists urged it to be placed: on land and natural resources.

A comprehensive review of the Australian taxation system last year recommended the abolition of many taxesand the implementation of a federal land and natural resource rents.

Western Canadian economic think tank recommends LVT to improve land use. Untaxing buildings and moving municipal tax onto the land beneath buildings will improve urban design, reduce sprawl, incent investment in built infrastructure, affordable housing, walkable neighbourhoods.

This in depth LVT policy proposal includes rational, numbers and impacts of how the recapture of the economic rent capture of land will reduce sprawl, finance transit, conserver resources.

Frank will be explains why green economics are so vital in our battle to find time to live sustainably. He details the important economic fundamentals needed for an effective carbon trading system, discusses the spin-offs urban sprawl has on housing affordability and outlines the methods available to fund the much needed public transport that Auckland needs.

The program we study and implement is called Land Value Taxation (LVT). It's different from the usual tax reforms, because it is Universal, Broad-based and NOT Dependent on "targeted" tax schemes.

Henry George (September 2, 1839 – October 29, 1897) was an American writer, politician and political economist, who was the most influential proponent of the land value tax, also known as the "single tax" on land. He inspired the philosophy and economic ideology known as Georgism, which is that everyone owns what he or she creates, but that everything found in nature, most importantly land, belongs equally to all humanity. His most famous work is Progress and Poverty written during 1879; it is a treatise on inequality, the cyclic nature of industrial economies and possible remedies.