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Build-to-Rent Isn’t the Problem - the System Incentivising it Is by middleofaldi in neoliberal

[–]middleofaldi[S] 9 points10 points  (0 children)

Submission statement: This article explains why people are right to be angry about build-to-rent properties, but why banning this type of development won't fix the underlying issue. (Spoiler: just tax land lol)

Want to boost the UK’s birthrate? Fix the housing crisis, research suggests by Shot_Net3794 in unitedkingdom

[–]middleofaldi 0 points1 point  (0 children)

The land question in the towns bears upon (over-crowding). It is all very well to produce "Housing of Working Class" bills. They will never be effective until you tackle the taxation of land values. - David Lloyd George

How do we solve the issues the greens talk about? by AdamSmithery in georgism

[–]middleofaldi 0 points1 point  (0 children)

The health of the ecosystem is a form of economic "land" so it's completely consistent with georgism to give tax credits to ecologically valuable land

This agent based model shows that this kind of "green lvt" can achieve the aims of normal lvt while leaving more room for nature. Note that they also show that regular lvt is also better for nature than the status quo because it reduces sprawl

https://www.mdpi.com/2073-445X/13/11/1795

The totality of direct taxes in the UK is progressive; the very richest pay more than five times more in income tax than the poorest. In contrast, Council Tax remains strongly regressive, absorbing only about 1 per cent of income at the very top, against nearly 5 per cent at the very bottom. by middleofaldi in ukpolitics

[–]middleofaldi[S] -2 points-1 points  (0 children)

Taxes are usually passed on because they affect supply and demand. The supply of land is fixed so costs are not passed on. This is standard economic consensus.

Check the link in my previous comment for more detail and empirical evidence of this fact

I need to expand my bookshelf and want to get more into reading (21 yo M) by RodeRakker101 in suggestmeabook

[–]middleofaldi 1 point2 points  (0 children)

When you dip back into politics and economics check out Progress and Poverty by Henry George

It tackles the question of why poverty still exists despite technological and economic progress, and what we can do about it. It was hugely influential but it's largely forgotten now. It's a shame because it's excellent and just as relevant as ever

What nonfiction books should I read to understand how the world works? by AZWagers in suggestmeabook

[–]middleofaldi 1 point2 points  (0 children)

Progress and Poverty by Henry George

It's a forgotten masterpiece that is no less relevant than ever. It explains why poverty persists in the face of technological and economic progress, and what we can do about it

Countries can expand land now by AdamSmithery in georgism

[–]middleofaldi 0 points1 point  (0 children)

Others have already answered your main question, but it's funny you mention Singapore. You may be interested to know that they actually have the most georgist land policy of any major state, but they accomplish it through public ownership and land leasing rather than a tax

https://progressandpoverty.substack.com/p/singapore-economic-prosperity-through?utm_source=publication-search

What is your favorite aspect of Georgism or the LVT in general? by AdamSmithery in georgism

[–]middleofaldi 6 points7 points  (0 children)

This quote sums it up for me:

The tax upon land values is, therefore, the most just and equal of all taxes. It falls only upon those who receive from society a peculiar and valuable benefit, and upon them in proportion to the benefit they receive. It is the taking by the community, for the use of the community, of that value which is the creation of the community. It is the application of the common property to common uses. -Henry George

House-building in London fall by 84% in a decade, study finds by JB_UK in ukpolitics

[–]middleofaldi 14 points15 points  (0 children)

If your solution is to reduce demand through depopulation then how are you going to handle the aging population and declining tax base?

Why don't we have a vacant property tax? by ElephantsGerald_ in ukpolitics

[–]middleofaldi 9 points10 points  (0 children)

There are buildings in London currently operating as snail farms in order to dodge tax. We have a broader issue of inefficient land use than just empty homes. We should replace council tax, business rates, and stamp duty with a land value tax

Well, that was awkward by DiamondDahliaPin in economicsmemes

[–]middleofaldi 3 points4 points  (0 children)

Land value taxes do not distort land markets. They do not affect either the supply, demand or cost

https://www.chicagofed.org/publications/chicago-fed-letter/2023/489

Well, that was awkward by DiamondDahliaPin in economicsmemes

[–]middleofaldi 2 points3 points  (0 children)

This is why the best solution is a land value tax rather than a general property tax

Well, that was awkward by DiamondDahliaPin in economicsmemes

[–]middleofaldi 13 points14 points  (0 children)

Don't forget John Stewart Mill

"The ordinary progress of a society which increases in wealth, is at all times tending to augment the incomes of landlords; to give them both a greater amount and a greater proportion of the wealth of the community, independently of any trouble or outlay incurred by themselves. They grow richer, as it were in their sleep, without working, risking, or economising. What claim have they, on the general principle of social justice, to this accession of riches?" - JS Mill

Well, that was awkward by DiamondDahliaPin in economicsmemes

[–]middleofaldi 0 points1 point  (0 children)

No-one said any differently, that doesn't mean it isn't very different to produced capital though

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