Might make a 'Georgism 102' sequel next year to address some common questions and rebuttals I'm seeing in the comments...
@riba223310 ай бұрын
yes please do!
@marianodavidcastellano958910 ай бұрын
I think one of the most important things you should mention in that future video are the concepts of ATCOR (all taxes come out of rent) and EBCOR (excess burden comes out of rent), analyzed by the georgist economist Mason Gaffney and others. If true, these principles prove that, on the very long run, an economy which is *only* taxed according to the full economic rent from locations (land) and natural resources, produces the most amount of revenue for the government compared to any other taxation system. This theoretically refutes the criticism of "LVT, pollution taxes and severance taxes alone not producing enough revenue" on the long run.
@marianodavidcastellano958910 ай бұрын
Other important thing is the *Henry George's theorem* analyzed by Joseph Stiglitz. And finally you can also mention "gameofrent" created by Lars Doucet, which is a great site for new georgists. EDIT: KZfaq keeps hiding this second comment, no matter how I formulate and rewrite it.
@user-px7tg8bb2y10 ай бұрын
👍
@oceanman86759 ай бұрын
cant wait😁
@RyanGeddie10 ай бұрын
This quote is on the back of George’s headstone in New York. “The truth that I have tried to make clear will not find easy acceptance. If that could be, it would have been accepted long ago. If that could be, it would never have been obscured. But it will find friends - those who will toil for it; suffer for it; if need be, die for it. This is the power of Truth.” -Henry George, Progress and Poverty
@Neotenico10 ай бұрын
Henry George was, in my opinion, a genius, but certainly not a modest one haha
@VitaeLibra10 ай бұрын
@@Neotenico"Why act humble if you're right?" - Me
@dereklenzen233010 ай бұрын
I personally made a pilgrimage there the last time I was in New York City. He is interred in the Greenwood Cemetery in Brooklyn.
@TheSpecialJ1110 ай бұрын
@@NeotenicoIt's hard to tell with people like him, but sometimes the idea takes over their ego. It's not about self glorification, it's about the idea he holds so dear that his own ego is invested in the idea rather than himself, to the point that it's on his tombstone. The problem is the language those sorts of people use is almost the same who want to self glorify through the fame of their ideas, so they're hard to tell apart.
@NoahgotLEGO10 ай бұрын
Only problem I see is how do you objectively judge the value of land? If it’s determined by government surely that is subject to corruption then.
@tc388410 ай бұрын
Ever since I learned about georgism I've got this eerie feeling that it is no coincidence that this theory is so unknown to the public, almost never talked about and not taught in schools…. There isn’t a single person in power that doesn’t own a lot of land. Correct me if I'm wrong here.
@VitaeLibra10 ай бұрын
Saw another comment that said some have argued rich people have been filling economic education centers with anti-georgists for decades now for this exact reason
@gljames2410 ай бұрын
I'd say the same for Syndicalism and Mutualism.
@yakovbrod999210 ай бұрын
This mostly harms the poor. Imagine getting kicked out of your house for not paying land taxes that are made higher by something like this. (Sorry can't reply, OP cowardly blocked me from replying)
@kepipek659810 ай бұрын
@@yakovbrod9992Imagine not being able to afford a house because all the land is being bought by the rich and then having to rent from the rich and then they keep raising the price. So you can't afford it and get kicked out!
@namlem_10 ай бұрын
Yep. Communism, socialism, fascism, white nationalism, etc. These are all controlled opposition. Those in power make no effort to suppress them because they aren't a threat. When Henry George died, his funeral procession through Manhattan was 200,000 people. The landlord class was terrified, and there was a concerted effort to suppress Georgism for this very reason.
@Joshs4stro10 ай бұрын
it’s crazy how many simple changes to society that could be made to improve everyone’s life but are stopped by the 0.1 percent
@houseofhas935510 ай бұрын
BS. The rich are not stopping anyone. The money tax made is scamming you and making you think you need to tax everything. Also those taxes are never used for things that help society.
@dannyzero69210 ай бұрын
I usually disagree with a lot of ideologies and other ideas but Georgism isn’t one of those..
@cyrusthegreat703010 ай бұрын
@@houseofhas9355Land lord seething at the idea and trying to make you think georgism is bad lmao.
@PlatinumAltaria10 ай бұрын
I love people discovering socialism in the comments like "wait, are the rich just stealing our stuff and contributing nothing?"
@nienke771310 ай бұрын
@@PlatinumAltariasocialism also steals people's labour value. Tax land, not labour.
@dickharris110 ай бұрын
Problem? The ones who can make this a reality are the same ones who are benefiting from it being the way it is.
@EvoraGT43010 ай бұрын
Correct.
@TheFireGiver10 ай бұрын
If only we lived in some sort of democracy where we can decide our representatives! In the US lots of these decisions are made at the local level, and local politicians typically aren't multimillionaire with vast swaths of land. I can't speak for other countries.
@bgiv201010 ай бұрын
@@TheFireGiveryeah, if only! I wonder why we don't just vote for economic democracy then. Oh right it's never going onto the ballot. Party bureaucracy still affects local politics and if you think independents are the answer... I'm sorry?
@elliot277310 ай бұрын
in a democracy there always will be people with lobbying power. It is what it is
@aceman000009910 ай бұрын
@@bgiv2010in the US, independents really ARE the answer. The stigma around 3rd parties is heavily propagated in the interest of those two evils that we try to find the lesser of every 4 years. Because narrowing it down to a 50/50 really benefits them and no one else
@benwoodruff132110 ай бұрын
Thank you for speaking on Georgist taxes. Some of us finance types love it.
@afgor108810 ай бұрын
of course you do. it allows you to continue extracting rents providing no value with your taxes lowered.
@nienke771310 ай бұрын
@@afgor1088Georgism literally puts an end to profiting from rentseeking
@duruarute544510 ай бұрын
@@afgor1088 bro did not watch the video
@afgor108810 ай бұрын
@@nienke7713 no it doesn't. it only restricts profit from rent seeking from land alone rent seeking doesn't just mean land rent...
@afgor108810 ай бұрын
@@duruarute5445 yeah i did. goodbye.
@mfk553310 ай бұрын
Georgism is incredibly based, but sadly politically extremely difficult - not because it would hurt lots of ordinary people (just the opposite), but because even now, 12000 years after the invention of agriculture in what we think of as a knowledge economy, the correlation between land ownership and political power remains incredibly strong.
@dhidhi1000Ай бұрын
just vote properly, god dammit
@mach2223Ай бұрын
@@dhidhi1000 vote for whom? point to a candidate with a land value tax as one of the points in their campaign, i dare you. There might be some, but not many. Not even close. Every country has a libertarian faction, a communist faction, seldom any has a georgist faction. It's not as simple as "vote properly" when there's no one to vote for. Unless you run yourself, which not many are cut out for even among the total population, much less people who support georgism. You'd be lucky to find enough people to run a campaign, not to even mention the amount of personnel required for a whole political movement.
@TheModeler9918 күн бұрын
@@dhidhi1000 Spoken like a 12-year-old that doesn't understand politics.
@joshuaherbert3010 ай бұрын
Taiwan, Denmark and Estonia also have LVT and it just works. Estonia for example has an 82% home ownership rate.
@VitaeLibra10 ай бұрын
Wait we do?!? - A Dane
@joshuaherbert3010 ай бұрын
@@VitaeLibra yeah it's part of the local property tax. It's between 1.6 and 3.4 percent
@schumanhuman10 ай бұрын
@@VitaeLibra Yes it does but the rate is far too low to help much today, none the less Georgism has a strong legacy. The last great opportunity was in the 1957-60 coalition with the Georgist justice party. Estonia had a decent rate LVT since leaving the USSR which helped them grow a lot, but they failed to reassess so the effective rate fell. They finally reassessed last year but because of the shock that would cause to some they lowered the rates, hopefully they move to yearly assessments and raise the rate again.
@joshuaherbert3010 ай бұрын
@@teamgeist3328 and Taiwan has one of the highest population density in the world. What's your point?
@Rotwold10 ай бұрын
@@teamgeist3328 does population have anything to do with viability? It's a tax after all and its scalability is endless (or until your population decrease, but then it's scalable until you hit zero!).
@the_pinkerton10 ай бұрын
You somehow look less nerdy that I expected
@sandman604510 ай бұрын
yeah me too
@R3TR0J4N10 ай бұрын
bro he aint a monkey, but least his bri'ish
@du_san10 ай бұрын
He look less British than I expected as well, considering his channel name is literally birtmonkey.
@kady599110 ай бұрын
I thought the same. He appears way too well adjusted, more than I imagined, for a youtuber
@doge-of-venice10 ай бұрын
It's the opposite for me, he looks more nerdy than I expected.
@mcbladeunicorn700710 ай бұрын
Your video on this 4 years ago literally spawned my academic career; I read Progress and Poverty days afterward cause I was so convinced. Now I am starting my masters in political economy focused on land policy. You are a Georgist hero, I think. I have been reading this book called Land Value Taxation Around the World by Robert Andelson, which explores all the attempted implementations throughout the world up until 2000, essentially no one ever took it far enough, even though it was working.
@arcticsentry9 ай бұрын
As an Alaskan (and an aspiring urbanist), it was a huge surprise to see the PFD mentioned in a video on LVT! The idea of replacing property taxes in some capacity with LVT has been floated a few times in recent years, most notably by the Organization Strong Towns. This video will be a fantastic resource for groups in Alaska looking to further improve state policy. Hats off to you, friend!
@shwackedgaming418610 ай бұрын
Doxxed a pro Putin oligarch in less than 30 seconds, god I love this channel
@BigHenFor10 ай бұрын
A Ukrainian oligarch, btw.
@wgcdrelliot89899 ай бұрын
He has been in austria for years. he can’t not only leave the country but also the city itself. He’s under “house arrest”, kinda…. so him living in london is just blatantly false. How do i know this? I am ukrainian, and i know several people who personally know him.
@Oligarch-qz4ud3 ай бұрын
based and limbopilled pfp
@MGX93dot2 ай бұрын
@@wgcdrelliot8989 when he said "living in london" i immediately said "no, just owns property there, like every rich cunt"
@erseshe9 ай бұрын
Fun fact! At the start of the game 'eve online,' speculators bought factories- an asset limited in number- and just left them to rot hoping they would gain in value. As a result, the devs implemented an LVT for those factories based on the value that they could potentially create, and sure enough those factories soon began to be of use as they were forced to produce things with them or to sell them off to someone who would.
@Neotenico10 ай бұрын
I've been a big fan of Georgism ever since I read/saw some content about it a couple years back. As your video suggests, George and his theories were immensely popular in the 19th century (his treatise _Progress and Poverty_ outsold every other book ever written except for the Bible in the 1890s), yet in the modern day and age, there are very few people who have even heard of the man. Call me a conspiracy theorist, but I think fading into complete obscurity is an incredibly curious fate for an economic school of thought that quite literally dominated the Western world for a time. We learn about Adam Smith ad nauseum, after all, and he died nearly 50 years before Henry George was born. There is most certainly a vested interest of the landed elites to suppress public knowledge of his writings. Some have argued that many of these elites founded schools of business and filled the economics departments with anti-Georgists for the express purpose of "recasting" Neo-classical economic doctrine to downplay the importance of land. Thankfully, the internet is making it easier to supplement what we learn about political economy in our formal educations. I'm very hopeful that videos such as this gain significant traction and make the idea more attractive, especially as a way to bridge the gaps in the increasingly polarized political landscape we see today. Kudos for a well-composed video explaining the system, arguing for its consideration, and using your platform to open eyes to alternate systems of economics that aren't just the overplayed "neo-liberal capitalism vs. Marx-inspired socialism/communism."
@nienke771310 ай бұрын
And George took inspiration from classical economists like Adam Smith and David Ricardo (as well as from early socialist thinkers like Pierre-Joseph Proudhon and Ferdinand Lassalle), who also recognised that land was different from capital and that land ownership wasn't contributing to society and thus shouldn't be profitable, but they hadn't quite figured out how to effectively deal with it.
@Daniel9H10 ай бұрын
It is kinda sad that it seems to only be about either raising or lowering existing taxes today. Nobody is proposing any types of new taxes such as LVT. I do, as you do, hope that videos such as these will start to gain traction and perhaps the topic will start to actually become more of a debate that people knows about. I’m sure that a lot of people would like the idea of LVT, but the problem being that they just unaware, it’s not like the news or political parties often bring up the idea
@gcvrsa10 ай бұрын
There are a few reasons why Georgism is virtually unknown outside of a small community of people who study economics and political economy. For one thing, just as the Single Tax Movement, as it was known in the early 1900s, was on the verge of general acceptance, World War I happened, followed by the global influenza pandemic, followed very quickly by the boom years of the 1920, and then the Great Depression and World War II. The second, more insidious factor is that in those years, there was a well-funded, concerted effort to remove any mention of Henry George and his ideas from the university Economics curricula, a fact which has been well-documented by the late American professor of Economics Mason Gaffney, in his 1994 book, "The Corruption of Economics", co-authored with British economist Fred Harrison and American economics professor Kris Feder.
@Neotenico10 ай бұрын
@@gcvrsa Most of what I was alluding to in my second paragraph was borrowed from a synopsis of Gaffney's essay _The Stratagem Against Henry George_ . Haven't gotten the chance to read the essay itself so I wanted to keep my language theoretical and avoid any decisive statements. I've got the PDF bookmarked though and certainly plan to read through it soon. I'll be sure to look into the book you cited as well!
@supernenechi10 ай бұрын
Only smart people will ever learn about Georgism, people who actively use their time to improve themselves. The vast majority of people just watch TikTok dance videos, or are working so hard they don't have the time to watch videos on Georgism. There needs to be a large public figure, most likely a politician, who can teach the their people about Georgism and implement it
@TimCrinion7 ай бұрын
The entire video follows from this: "You deserve to fully own the fruits of your labour. No one deserves to fully own the fruits of no one's labour, i.e., land."
@chuco498010 ай бұрын
Another argument in favor: the government has an incentive on improving infrastructure since that would increase the land value and thus the government revenue
@moisesmaciel51235 ай бұрын
This is my favorite; the government starts to have an incentive to do what it claims is its responsibility
@mach2223Ай бұрын
Question: How do we prevent the government from spending excess tax revenue on projects done on a higher budget than is realistic by someone with personal connections to politicians so they can take the money for themselves? In other words, what guarantees the excess money won't be stolen by corrupt officials, therefore eliminating the dividend?
@attempt507410 ай бұрын
Sun Yat Sen's principles revolved around this idea and it has made Taiwan one of the most prosperous countries in Asia.
@Semper_Liberi10 ай бұрын
I do agree with you, though granted... only after decades of authoritarian corporatism. Same with S. Korea.
@elevatedmeance680710 ай бұрын
@@Semper_Liberi SK is still controled by samsung, Taiwan at least isn't that capitalist ever since the KMT lost power
@shzarmai9 ай бұрын
Based Sun-Yat Sen as always. Hopefully, Somaliland implements Georgist policies in the future.
@shzarmai9 ай бұрын
Yep, casual Sun-Yat Sen W
@shzarmai9 ай бұрын
More reason for countries to implement Georgist land reforms and free trade plus maybe more open markets too.
@Struckgold10 ай бұрын
'Redistributing wealth' should be renamed 'wealth recovery from the unproductive'
@zmcanais2 ай бұрын
I like how this video starts by casually doxxing a corrupt oligarch
@factandsuspicionpodcast27279 ай бұрын
A Libertarian friend of mine told me for ages that I needed to look into the Land Value Tax. We have quite different political philosophies, so I was shocked when I realized how reasonable it actually is.
@HDTomo9 ай бұрын
Georgism works with right wing and left wing, that's whats so great
@potato13418 ай бұрын
It's just how it is. Good ideas are good regardless of the lens you look at them through.
@factandsuspicionpodcast27278 ай бұрын
@@potato1341 I don't disagree. But considering he's been trying to convince me that taxation is theft and how roads should be privatized for a decade, I didn't expect much.
@potato13418 ай бұрын
@@factandsuspicionpodcast2727 oh dear. I wouldn't want to imagine a world with toll booths on every street to make sure the road provider got their fair share.
@Eudaletism7 ай бұрын
@@factandsuspicionpodcast2727 I can understand why hardcore anti-taxers would like it. LVT isn't really a tax, but a rent, imposed by property owners onto property users. If someone thinks individual land plot owners are due their rent in the existing system, it should be easy to convince them that land _shareholders_ would be due their _dividends._ Imagine all the problems that would occur if shareholders in a business didn't own abstract shares, but specific pieces of the business. Like maybe one person owns the HR department and another person owns accounting, one person owns the furniture and another owns the computers. That's the crazy system we have with land.
@NS-pj8dr9 ай бұрын
It really blew my mind when I first learned about it. Looking at my city where property values have practically tripled since I was a kid - it's all land value! All those million dollar homes people are sitting on? That is literally the money right there that we should have in our economy, that's our higher wages, our public services, infrastructure, and lower rents locked away on someone's asset sheet. Tax the land!
@gumarks_5 ай бұрын
Didn't know about Georgism 20 minutes ago and now I'm an absolute supporter of it.
@user-ge5ce2rr6p3 ай бұрын
Based
@regulate.artificer_g23.mdctlsk10 ай бұрын
Fun fact (IIRC): Georgism is what inspired the original board game of what we nowadays call Monopoly.
@mastertonberry92246 ай бұрын
you remember correctly
@sandralibeau4795Ай бұрын
Two versions of Monopoly too. And the one about how to really make money isn't sold.
@dirty_haute10 ай бұрын
Always a fan of spreading the knowledge of Georgism.
@scpdatabase96910 ай бұрын
I just watched that Down the Rabbit Hole video about EVE. They had the same problem in that game when speculators bought up all the factories that produced ships because they expected to make money in the future. The response was to tax all factories for simply existing. This forced speculators to sell the factories to those that would utilize them or start utilizing it themselves. Housing has become the literal worst issue for first worlds. It’s gonna cause either a true collapse or a worldwide, French style riot if it isn’t addressed. Like why the fuck am I gonna pay $1500 for a single bedroom when that’s literally a mortgage???
@Benek9182 ай бұрын
It's so depressing living in a world with the knowledge that life could be almost like a utopia for everyone yet the greed and corruption of the 0.1% is so strong that the majority lives and dies in a world so unjust
@Bram0610 ай бұрын
This is the best explanation of Georgism to date. On a side note, your outro reminds me of the lyrics of Solidarity Forever: It is we who plowed the prairies, built the cities where they trade Dug the mines and built the workshops, endless miles of railroad laid Now we stand outcast and starving midst the wonders we have made They have taken untold millions that they never toiled to earn But without our brain and muscle not a single wheel can turn We can break their haughty power, gain our freedom when we learn
@numerum_bestia10 ай бұрын
I have never heard of this song, but thank you for the recommendation. I will look it up. In comparison, it reminds me of some lyrics by a man called Eric Peterson. “I will never understand why they all only use those hands To build a stead that will always stand in old time country But settle for white rooms and hollow doors, paper ceilings, padded floors. Luxury boxes where you're stored in what was country..”
@tonih467410 ай бұрын
@@numerum_bestia And that reminds me of a Tom Paxton classic: "Little boxes on the hillside, Little boxes made of ticky-tacky, Little boxes on the hillside And they all look just the same...."
@dereklenzen233010 ай бұрын
As a long-time Georgist, this is probably the best introductory video that I have seen on the subject. Thanks for helping spread the word! 🙏👏💯
@LucasDimoveo9 ай бұрын
I love the “if you raise the rents, we tax you more”
@iammrbeat10 ай бұрын
Let's gooooooooooooo
@finnvictorsson10 ай бұрын
Mr Beast?
@the_pinkerton10 ай бұрын
Mr beast give me money
@user-ge5ce2rr6p3 ай бұрын
LVT is based
@chrisalex82Ай бұрын
You here ??? Damn!
@Daniel9H10 ай бұрын
I really appreciate you videos. They give me a different perspective on things that mainstream media doesn’t. They bring up ideas and topics that the news and politicians don’t seem that enthusiastic to talk about, all while having a positive and encouraging attitude. Thank you for spreading awareness about these topics and thus showing us, the people, alternatives to what mainstream media preach about. Keep up the good work, and I’ll be happy to see your next video, whatever it will be about.
@joedetode10 ай бұрын
I have been sold on LVT for a long time now but always struggled to get across it's benefits - this video is fantastic.
@vladm127610 ай бұрын
We need more people talking about this in academia and on the streets. Even if it doesn't turn out to be as good as you portray it, it may still be a far better solution to some of our old societal problems. You definitely sparked an interest in many of us, including me. I never heard of georgism before your first video on it. Thanks, man! Keep up the amazing work.
@jeffw829 ай бұрын
Dig into it more, then join us in getting the word out!
@lordsiomai10 ай бұрын
Sad part is, I know a lot would simply dismiss Georgism as a "bunch of commie/socialist bs" despite seeing all the advantages.
@LibertyAnd177610 ай бұрын
LVT and Pigouvian taxes are the only two taxes that don’t create deadweight loss.
@AYANOfficial39 ай бұрын
People work for their income, so it makes sense why people consider the income tax unfair. However, if you don't do anything as a land owner, it makes sense why you should be footing the bill. If you reward production and penalize non-production, naturally, there'll be more production and thus more resources and new products to go around. Land tax > Income Tax.
@feluto71728 ай бұрын
the best part is that its STILL possible not to work and live entirely off rent, but thats not enough for them!
@SuperTobyproductions10 ай бұрын
Brilliant work, it's such a shame that this idea isn't mainstream anymore (used to be in before WW2). Hopefully your work contributes in opening peoples eyes :)
@comicsans621510 ай бұрын
Britmonkey making a second video about Georgism is unexpected but I’m all for it
@v1x4z10 ай бұрын
I've been a Georgist for a couple years now, glad you're talking about it. I was saddened by jREG when he said that it's a dead ideology.
@randomotaku550010 ай бұрын
jREG doesn’t read anything he talks about, man is just all about memes. Wouldn’t follow any advice from him on politics, but I got to admit, the Quebec wall was a good idea.
@randomotaku550010 ай бұрын
@@Adi-bo5do Too many filthy Canadians are entering Quebec! They’re taking our jobs!
@elevatedmeance680710 ай бұрын
jREG is kinda right, Georgism got unirronicly railed harder than marxism did in america. Why? Because american efforts to get rid of Marxism failed, because what they did to geroge succesed, the elite completly wiped him out of economics, couldnt do that with marx
@TankEngine755 ай бұрын
Also JJ McCullough called it an "Obscure 19th Century ideology" and said that people shouldn't spend time for obscure irrelevant ideologies
@LowestofheDead2 ай бұрын
@@elevatedmeance6807 Exactly, George's book was the top best-selling book after the Bible. It was more popular than both Adam Smith and Karl Marx. That's why it was praised by so many famous people from MLK to Einstein to Roosevelt. And now no-one's heard of Progress And Poverty.
@Mycromator10 ай бұрын
As many people should see this video as possible. I think bringing this idea back into the public eye of discussion is a very good cause. I have been interested in the LVT for a while now and this video really does do an amazing job at explaining it. I'll definetly be sharing this with people. Thank you for your great work, have a wonderful rest of your day mate.
@lucasplz242910 ай бұрын
Ditch LVT and get into LTV 😉
@NoOne-dj1ou9 ай бұрын
@@lucasplz2429 I think you mixed those up
@eljestLiv10 ай бұрын
Georgism is unironically an excellent compromise between left and right, socialism and capitalism. I’m a centrist liberal and this is exactly what I want. A society where people can get rich and be rewarded if they actually create something useful (ie. ideal capitalism) but also where there is less wealth inequality (ie. ideal socialism).
@PlatinumAltaria10 ай бұрын
You are a social democrat, you are left of centre. Also I don't think you know what capitalism is.
@eljestLiv10 ай бұрын
@@PlatinumAltaria Haha no, I’m not a social democrat. Firstly, I strongly disagree with many left wing views, and secondly, I’ve had leftists tell me I don’t belong on the left even when I did consider myself center-left a few years ago.
@rumble19259 ай бұрын
@@PlatinumAltariamaybe you dont know what capitalism is?
@paulallen26803 ай бұрын
@@PlatinumAltariayou don’t know what capitalism is
@FallingSport10 ай бұрын
Dude I freaking love your videos. These topics you cover are things I am not well informed on because a lot of the time I didn’t know they existed! Even accounting for any bias you have, I still learn so much of the core of these issues. Please keep making more.
@brapmaster10 ай бұрын
I hate watching these videos because they make me realise how much better the world could be.
@afaxmachine504510 ай бұрын
Watch the videos. Realise how much better the world could be. Vote in elections and protest.
@Semper_Liberi10 ай бұрын
@@afaxmachine5045 And strike, don't forget to strike.
@shroomchild178010 ай бұрын
Im not going to lie I initially didn’t like this idea because it presents a similar problem to taxing wealth, your taxing money that doesn’t exists. But the more I listened the more I was convinced and now love the idea. Living in America makes me consider at what governmental levels this could be instituted and if I trust the government to abolish all other taxes.
@anteeko10 ай бұрын
I certainly agree that this tax scheme is likely the most fair one can think of but the problem is how to evaluate the value of the land? the government will have HUGE incentive to over-evaluate everybody's land..
@Njndirish1310 ай бұрын
Existing property assessors and their methodology. Also comparable sales.
@anteeko10 ай бұрын
"Existing property assessors and their methodology. Also comparable sales."@@Njndirish13 This seem inefficient and easy to abuse
@quintessenceSL10 ай бұрын
This is done daily (at least in the US) through appraisals and market value comparisons (otherwise how would sellers know a base price to sell). People often contest their property tax bill by hiring an appraiser. Further, if the government over-values the property, they can purchase it for that price, which also deprives them of ANY tax they would have gotten (and any more until they can sell for that inflated price).
@anteeko10 ай бұрын
"This is done daily (at least in the US) through appraisals and market value comparisons (otherwise how would sellers know a base price to sell). People often contest their property tax bill by hiring an appraiser."@@quintessenceSL Yeah that what I mean by inefficient. >Further, if the government over-values the property, they can purchase it for that price, which also deprives them of ANY tax they would have gotten (and any more until they can sell for that inflated price). The government has no obligation to buy up any property
@nienke771310 ай бұрын
Taiwan solves the problem by letting people self-report the value, which both determines their LVT and the price for which the government can take it from you, so if you report too high, you'll be responsible for setting your taxes too high, if you report too low, you risk the government taking your land and giving you less than it's actually worth.
@HotblockLLC2 ай бұрын
H. George died at 58. And not a single landowner mourned his passing, I'm willing to bet.
@KOGitnow10 ай бұрын
Yay!! Another Georgism vid. Brilliant work we always. Hello fellow Georgist! 🔰 we need to spread the word of HG as far and wide as we can!! 📣📣📣📣
@hlary832010 ай бұрын
"This is the best idea that will never happen." This was the part I was waiting for, a explanation for why despite all the pro's, this tax remains unutilized by most of the world. Landlords getting in the way surely cant explain all of it
@reillywalker1959 ай бұрын
Our inefficient tax systems in the West keep a lot of tax accountants and government bureaucrats employed.
@hlary83209 ай бұрын
@@reillywalker195 well that just begs the question of why haven't more developing nations who would love a easy to implement and effective method of taxation hasn't adopted it either.
@Candoran9 ай бұрын
Well, it IS landlords getting in the way, it’s just that at least 238 of US federal lawmakers are themselves landlords. 🤣
@elliotm2 ай бұрын
Never heard of this before and wow...
@yubin36692 ай бұрын
Ikr!
@mapk151610 ай бұрын
Based Britmonkey making yet another video on Georgism. Somebody tag Tom Nichols in this so he can watch this instead of trashing it like he did in that video on Monopoly.
@chrisalex82Ай бұрын
I will certainly use this in the future
@snakyjake910 ай бұрын
Commenting for the algorithm so we can make this go viral. WE GETTIN OUT OF THE SPRAWLED SUBURBS WITH THIS ONE
@lourencopedro110 ай бұрын
The more I learn about georgism the more I like it.
@orterves10 ай бұрын
I'm confused. How does all this make the rich richer? If it doesn't make the rich richer, it's never happening.
@thetaomega781610 ай бұрын
It makes the business rich richer, but the land rich poorer. Which is my the land rich are against this
@Candoran9 ай бұрын
@@thetaomega7816best bet for this working is the rich fighting themselves 🤣 some of them will want lower taxes while others will “but not like this” and so the battle begins.
@harry-matakios134410 ай бұрын
My eyes have been opened. Consider me a convert to georgism
@palatasikuntheyoutubecomme204610 ай бұрын
Read Progress and Poverty by Henry George
@harry-matakios134410 ай бұрын
@@palatasikuntheyoutubecomme2046 no
@crabbowiththestabbo10 ай бұрын
I’ve never been a fan of paying taxes for something I own, but this does seem like a good solution for multiple problems.
@gcvrsa10 ай бұрын
The central thesis of Georgism is that no one has any moral claim to property rights in the gifts of Nature, as they fundamentally belong to all the living in common. Therefore, the "Land Value Tax" is not really a "tax", at all, but a user fee for what you reserve for your exclusive benefit out of the common wealth. Since you don't actually "own" the land, because land cannot in any real sense be "property", you aren't paying taxes for something you own.
@VitaeLibra10 ай бұрын
I think it's more "something you use" than "something you own"
@sir.grumpypawson659810 ай бұрын
they did this in eve online and it solved their speculative investors problems real quick
@du_san10 ай бұрын
An economic system at its core, is a method to distribute resources efficiently and effectively, thus if idle resources are common, than the economic system had fail at its job, all these idle land, idle workers, idle capital, is a sign that ours economic system have failed us.
@Toini0110 ай бұрын
This would be so hard to put in place. Who would determine the value of that land vs the property ? We have a land value tax (taxe foncière) in France which adjust annually based on the CPI, but since the 70s, home prices have gone up about 500% in Paris, versus a c.30% CPI. Would that mean a 470% land value tax increase ? No, because Parisian flats are way more moderns and buildings well maintained versus what we had in the past. Furthermore, Haussmanian buildings (ie old classic Parisian ones) are worth more than those built in the 70s because they are prettier and in lower supply (we don’t build them anymore). Would this be included in the LVT or not ? Because you can extract value from the historical building by it just existing and not create anything. All you have to do is not let it collapse. Basically, there’d just be tons of loopholes to go through…
@danielmichalski9410 ай бұрын
Loopholess system of it would go like this: we check the amount of money generated in the 1km wide square around the place of this building in taxes (tax per sale, tax per rent), we get the value generated by everybody around that place, and next, we count the amount of money to be taxed each year based on the generated wealth around that piece of land. If the land do not generate any money, there will be base tax for it, low, but rising as the amount of land you have. Period. The more money you generate, the more tax you get. It would be appliable for every piece of land. If you would want to get tax lowered, because the building is of some kind cultural or historical significance and goverment forbids its destruction, it would be possible, but at the same time the building would need to be firstly in pristine shape, and after that it would need to be open for tourists, that would love to see it. The system would be very strongly based on simple excel spreadsheets, and those would be deadly for any land hoarders. After getting this law in motion, huge amount of wealthy people would try to sell their properties as fast as possible to avoid getting taxed extremely high. Huge amount of land and properties for sale means high competition, and this means price sinking to the bottom in many places, just to get rid of the excessive space. Will it be enforced in Great Britain? Without revolution, I don't think so. British nobility, multibilionaires and politicians would do anything to avoid passing this law. It would mean huge loss of their wealth. They do not like the thought giving back their land, passed across dozens of generations since medieval times to the peasants XD This is lost cause XD
@danielmichalski9410 ай бұрын
The only loophole for getting land in the city taxed for no-price, would be by freezing all movement in neighbourhood. I did not tell about scan of land around sized 1000 x 1000 meters by accident - it means, that no matter how much land you will get around the city, this 1km border around your land will also become bigger in terms of square meters, getting more and more business owners, shops, banks and landlords around into accounting. This system would require registering every cash register to the adress and piece of land, that is operating on, every business to the land that is operating on, and if the business has multiple patches of land, it would mean multiple registers. It's that simple and that extremely harmfull for every land hoarder XD
@Toini0110 ай бұрын
@@danielmichalski94 You’re just ignoring a simple fact, which is that it’s extremely hard to value the land itself. Let’s say three people selle their homes: -one sells a ground floor 50m2 home for 100,000€ -one sells a 150m2 house with a large garden in a relatively urban area for 500,000€ -one sells a last floor 100m2 flat for 300,000€ In such a situation with diverging prices based on the type of real estate that is bought, how do you value the land ? The easiest way would be to take the cheapest and value from there, because otherwise, if you took the house you could end up with a land value > house price for the small ground floor apartment. If you do that, then the value of all properties with « special features » will skyrocket because you’ll be able to consider that it’s the features of the property and not the land itself that is worth the money. Also, ironically this LVT will lead to more gentrification. Take my Paris example where the taxe foncière went up say 100% less than inflation (for argument’s sake). If tomorrow its fiscal base were adjusted, then any lower/middle class that saved enough to buy a property in Paris will be taxed significantly more on capital that it can’t use (can’t rent it since he lives in it), while his income is unchanged. This tax would effectively become a nice way to make wealthy areas even more of a ghetto for the wealthy, while the poor would all buy (if they can) in the same areas with low land value.
@Toini0110 ай бұрын
@@danielmichalski94 Also your tourist is argument is funny to me. Living in Paris, this would mean that 3/4 of the city’s houses would be open to tourists. Same thing in Rome or any other beautiful historical city. And again, this just means that a middle class family could no longer live in historical buildings because they wouldn’t have the cash for either the LVT or the refurbishment costs
@danielmichalski9410 ай бұрын
@@Toini01 And here, I need to add only two things. Firstly - you misunderstood one thing. The height of tax in my idea will not be based on price of land, but on the amount of money generated on this land and around it. Secondly - I need to set up simulation for it to check, if it would work, abuse it a little. Without it I cannot predict what would happen.
@Alexander-the-ok10 ай бұрын
Old Brompton Road Tube Station! That was the headquarters for the University of London Air Squadron. I was a member just before it was sold - some of my most formative moments happened in that building. The ‘secret’ tunnels to the old underground platform were amazing. It’s extremely depressing to see it reduced to doing literally nothing.
@EvoraGT43010 ай бұрын
Almost as depressing as the state of the UK armed forces in general......
@wtwarrior76982 ай бұрын
Well, i m convinced. But i have one question, and maybe cause i am simply uninformed, but how do we decide the value of the land? Specifically outside of the city? Specially farmers that may own alot of land and higly productive but do not make that much revenue at all.
@HS-ig4ly2 ай бұрын
i dont think anyone really has a solid or perfect method to do this since georgism isnt really talked about much. from what i see every unit of land should be worth the same as another no matter is location or surroundings and tax would be calculated based on the area you own rather than its current value. But like you said that puts unfair tax on farmers who own a lot of land without making much money (especially in the UK). Im assuming if a system were to ever be put in place, farmers would get an exemption or tax cut similar to now. This means farmers would get to keep providing and land hogs would be forced to either sell there land or have something developed on it to make money which would grow rural places without harming people who actually contribute.
@heldercaze633328 күн бұрын
@@HS-ig4lyuh, how the video said, even if definitely don't have a perfect way to calculate, it's probably defined by the demand of the land, for example in a city have much more demand per less land, which will increase the tax, which will obligate de land owners to densify and being more productive to compensate to ""lose"" land, on the contrary, is case of interior regions.
@mushroomman529 ай бұрын
I've been really interested in Georgism since Tolstoy wrote about it and supported the idea!
@lamiahhammam2 ай бұрын
This is one of the coolest channels on youtube
@Gary_oldmans_left_nut9 ай бұрын
The reason I love Georgism is because it cuts through alot of the ideologically driven debates of our time with an intuitive message: Considering that no one through their labours produced the land, why is it that you pay so much to other people for it?
@hkehk781110 ай бұрын
LVT is such a simple and effective thing, we need more people just talking about it, thanks man
@jeffw829 ай бұрын
If you dig into it enough, you'll likely be compelled to join us in getting the word out
@sunnex47410 ай бұрын
You have buffed Britain’s average handsomeness up by tons
@joebarrera3349 ай бұрын
Thanks for using your platform to highlight Georgism and the LVT. I'm hopeful we'll see more progress in my lifetime
@FatboyMcfat10 ай бұрын
These videos make me hopeful then I go outside and I'm sad again haha
@geisaune7933 ай бұрын
My pride in being an American is automatically increased by like 5% simply because of the fact that Henry George was also an American.
@BSideWasTaken10 ай бұрын
This is a brilliant idea that would benefit the mass majority of the global population... which is the exact reason it'll never be allowed to happen :(
@PlatinumAltaria10 ай бұрын
Socialist moment:
@petteringemarsson625710 ай бұрын
Best youtube video of 2023.
@jucom75610 ай бұрын
Thr thing about LVT is: it works, but it shouldn't be exclusively LVT, there are other things that need to be taxed to prevent exploitation, like giant investment firms could manipulate the markets without any concerns if they just stayed away from land for example.
@isoroxuk10 ай бұрын
Economic "Land" isn't just an area of dirt, its everything from geostationary orbits to the EM spectrum. Its things whose supply is fixed.
@jeffw829 ай бұрын
@@isoroxukalso a number of natural resources and the patent system
@WelcomeToDERPLAND10 ай бұрын
The problem I see if it were ever implemented is the government just adding this tax to the rest of them, while cutting none of the others.
@hanshintermann155110 ай бұрын
You can also just REDUCE other taxes.
@casp51210 ай бұрын
A democratic government in general has an incentive to cut taxes. People like when they have to pay fewer taxes if it comes with no downsides (like lower living standards) which makes it more likely for them to reelect the incumbent government.
@jamisongillespie352410 ай бұрын
in the latter half of the 20th century we saws reduce massively. There's no reason to believe this.
@rutgerboontjes909310 ай бұрын
Everything current politicians do is based on fear of reactions from the electorate. Governments don't want to tax the shit out of people, it loses them votes. If they could somehow convince them that this really is a tax system that is beneficial for 99% of people, they would be halfway there. Unfortunately, also 99% of people couldn't give a shit to learn about taxation and public economics, and I don't even blame them, theory about this matter is often dry and people have more urgent issues in their lives to care about.
@Kodeb810 ай бұрын
@@casp512 Pretty much this. Anytime a politician raises taxes, they get punished in the next elections hard.
@trickvro10 ай бұрын
As an Oregano, I can report that there was an effort in the very early 1900s to bring a land value tax to Oregon, very shortly after the state adopted the referendum process. The measure was rejected by voters though. I wish I knew why.
@pauls64259 ай бұрын
The people who voted no are mostly homeowners, I'll bet
@derchiongster80686 ай бұрын
"As an oregano...", may I use you seasoning in my pasta sauce? ;)
@LowestofheDead9 ай бұрын
Georgism is amazing. There are some problems, but they all have solutions: *How do you decide the land value?* I've seen multiple options: -It could be based on annual auctions -It could based on the rent (so landlords can't just raise the rent to profit more). -It could be based on property appraisals - that does involve some bureaucracy, but it ensures that property is used productively. The Netherlands already does this with their wealth tax. -In Taiwan, property-owners declare their own price. So they can say a low price to lower their taxes BUT it's also the price at which the state can force-buy your property. Also you can't avoid that by setting the price too high, because then you'll have higher taxes. *Will public parks be replaced with high-rises because that's 'productive'?* Parks can be left out of the system by the government. However, the govt has incentives to increase their tax revenue, and so they probably would turn parks into valuable real-estate. *Will the taxes on my home be so high that I'll be forced to sell and move?* Sadly yes, if you live in the city-centre. So Georgism/LVT would basically be Eminent Domain but the free-market version. At least you'd get paid the value of your land. Or you could get a loan to build an apartment block on your land and live in the penthouse. But I've seen other versions where the tax ignores your first home, and only affects rental properties/second houses/businesses (That's also how they do wealth tax in the Netherlands). *Does this cause more or less gentrification?* Less (I think). Rent and goods would be cheaper in these areas, and it'd be easier for existing residents to buy a house (because there would be fewer landlords since it'd be harder to speculate with property). -But at the same time, landlords could still choose to rent to richer tenants from other neighborhoods. And Georgism creates a pressure to build 'productive' things - which could mean rejecting the local culture and replacing it with Starbucks if that's more profitable.
@b.j.8809 ай бұрын
I agree with you, but i have some points to make, too. First of all, how does this "auction" business work? Second, i think parks would work the opposite way. Things like parks, malls, and other recreation centers (not to mention essential services like hospitals and metro stations) raise the value of adjacent properties. Which means there is an incentive in keeping seemingly "unproductive" land around, after all, only thing better than 1 productive plot replacing the park is 9 adjacent plots that become productive *because* to the park. It's the way the Hong Kong Metro Company operates. Metro lines raise the value of adjacent businesses (which the company owns) which in turn finance the cheapest (on the consumer) MTS in the world.
@LowestofheDead9 ай бұрын
@@b.j.880 So apparently it uses a "Vickrey" auction where all bids are secret and the winner pays the second-highest bid - supposedly that matches peoples' pricing best according to game theory. On parks - I suppose the neighboring buildings would collectively own the park for them to reap the benefits? To be honest it's been a while since I read into this. And I agree with you on HK's MTR!
@Candoran9 ай бұрын
I mean if all else fails, you could put those parks on TOP of buildings…. That could be fun 🤣
@olamilekanakala75429 ай бұрын
An LVT in sorts incentivizes returns cities and urban areas to the development patterns that formed most of the biggest cities around the world historically. In times past, imagine you and a bunch of settlers found a nice bend in the river to settle in. After working tirelessly to add amenities and production to that area, other people want to move in and thus the land becomes more valuable. As an owner of the land, you'd have a choice, either sell the land off and move to the outskirts for a bigger, cheaper piece of land, or increase the density or productivity of your property to accommodate others that would like to use it. You get the financial benefits of selling or leasing the new productive space you've created. The community gets more people that have an interest in using that space, and hopefully the newcomer further increases the value of land through their own ventures. So, the original landowner can benefit as well. In modern times (and similarly in the past but perhaps through different means) if the current landowner could not afford to develop their land further but didn't want to move or get kicked out by an increase in tax, they have a very good case to borrow the money to do so. And yeah, like any venture, there will be people that have bad luck, but if this entire process (development, then increase in land value, then incentive to develop further) is repeated frequently, then the cost of each iteration should be cheaper and more attainable to the average landowner. And the risk from failure should be smaller since the necessary loan wasn't that much anyways. The problem currently is that we've stifled this iterative process for so long that most people will just have to leave because the risk of staying would be too high. With good planning and political will, the fallout can be minimized. But there will be a cost to remedying decades of bad land use decisions.
@b.j.8808 ай бұрын
@@LowestofheDead Oops, sorry mate, i'm a little late to reply. That's really interesting, but it's still not very clear to me how that system works. How often are bids held? Who bids? Is this just for sale of the property or is this like a fictional bid to decide the value?
@ZOCCOK9 ай бұрын
India has this exact system for several decades (Except the Citizen Dividend). It's the first time I've realised that not all countries have it. (In India, a land is valued by the local government based on a variety of different criterias. Then that value is compared with the rent earned on the property. The higher of the two is taxed, meaning if rents rise, then the tax rises as well )
@deus_ex_machina_9 ай бұрын
Wait what? I didn't know this, and I live here!
@jeffw829 ай бұрын
From what I've read, LVT is different from the India taxation system because 1. LVT is levied against all land, not only developed land, 2. the property assessment and comparison to rent includes the value/rent of the structure, not of just the land. Seek out the GeorgismIndia subreddit for more info.
@ZOCCOK9 ай бұрын
@@jeffw82oh. I had been learning tax and all the tax stuff just sounded like the House Property Tax levied on rent collected on houses.
@hydrolifetech79112 ай бұрын
Why is it the first time in my 36 years of existence I am hearing of this awesome concept?! Love the video!!
@rascam847010 ай бұрын
Great remake/expansion of one of your classics!
@RealGreenGames10 ай бұрын
wrong bad never speak on these things again
@I_like_Potatomen210 ай бұрын
what a nerd
@I_like_Potatomen210 ай бұрын
👁👁
@nijinokanata1119 ай бұрын
your editing style is addictive!!! I'm binge watching to learn and be spoiled by the production value 😁😁😁
@hammerth1421Ай бұрын
My takeaway always is that Georgists are right, they're just not right enough. Would be a good start to then build upon though.
@fullmetaltheorist9 ай бұрын
It sounds like a lot of the UK economy is based around financial bubbles that are more important to the government than actually creating a country where people can afford to live in.
@feluto71728 ай бұрын
not just the UK but the entire european union and the west, thank the debt/mortgage economy and international banks who absolutely love the current situation
@alexanderveritas9 ай бұрын
I think the most over powered yet underrated skill *Jesus* had was the *tax evasion* ability. Truly a legendary one.
@EcclesiastesLiker-py5ts9 ай бұрын
"From whom do the kings of the earth demand taxes, from their sons or from strangers?" They replied, "From strangers." "Then, the sons are tax free. But, that we may not cause outrage, go to the water and catch a fish."
@brandonestrada27919 ай бұрын
There’s one issue with Georgism you forgot to cover, that being that the top billionaires and millionaires hold so much power that they’d never let that happen by ANY means necessary they literally run the show
@dirtywaterpj_dj10 ай бұрын
It all sounds good. But doesn’t take into account the huge levels of corruption. So much tax is given away to friends of MPs/Ministers. And it’ll never happen anyway. Too many people in Parliament own land/property and rent it out. They’ll never pass a law that takes money away from themselves.
@BigHenFor10 ай бұрын
Never say never. They said people without property would never get a vote, but they did. It took near a century to do it here in the UK, but it happened.
@JonasGranel9 ай бұрын
My landlord is a city owned non-profit organization. Its the largest landlord in my city. The second largest is a non-profit organisation owned by the state. My landlord owns the whole street. There is a community center in an old slaughterhouse, a kebab place, a couple of cafes. Everything next door. I don't own a car, because there is a tram station 5min away and I can use Carsharing if I need to transport something. My rent is low too! Actually, rent is cheap everywhere in the city. I can report issues on their website and city owned repairmen will come within 1-2 days and fix it. I like my landlord. And I like the city :)
@JonasGranel9 ай бұрын
The solution is disowning property owners in citys. If you want a house move to the suburbs. Sure, you can prevent propertys staying empty with Tax. But no amount of tax is going to prevent greedy landlords overcharging for rent while providing shitty service, Bulldozing "trendy" neighborhoods to build luxury apartments driving out residences. And it sure as hell won't lower the average rent.
@JonasGranel9 ай бұрын
Property value tax would even encourage these fancy ass gentrifying luxury apartments. If the tax stays the same, landlords will naturally build the most expensive flats possible to extract the most amount of rent. Fuck that.
@Sythemn10 ай бұрын
2nd video I've seen on this and I'm certainly liking what I'm hearing.
@rifolas7 ай бұрын
Honestly, this makes capitalism work, sure there's still ways for rich people to get away with taxes like buying art and such, however this makes it so people like bill gates buying up a lot of land essentially get punished for doing so, 10/10, would tax the land
@makelovenotwar246710 ай бұрын
This is a level up from the "Everything crisis" video about real estate 👍👍👍
@PrawnAddiction10 ай бұрын
18:38, I must say as a Kiwi, I'm downright appalled by how high how rents are. How government is just too incompetent to fix it because they benefit from it.
@JimJK8 ай бұрын
this is a very good idea
@grzegorzha.10 ай бұрын
BritMonkey continues to never disappoint.
@Aiham10 ай бұрын
Ideal system but the rich will never let it happen
@greenoftreeblackofblue662510 ай бұрын
Maybe if only rich people exist that would be the problem probably the real problem is people thinking they don't have power because they aren't rich. Also this doesn't even effect all rich people some of them might end up paying less taxes.
@VladimirLlyichLenin10 ай бұрын
Yeah. It's almost as if a system (capitalism) that makes billionaires is bad or something
@Paul_SB10 ай бұрын
Thanks for making content for us!
@MB-st7be9 ай бұрын
This is why we need to stop whining about the plight of British 'farmers'. Stop calling them farmers and use their proper name: multimillionnaire landowners.
@cmw373710 ай бұрын
Land owners aren't the only rentiers in modern society who get to sit back and make money from other people's hard work with next to no risk. Big tech platforms are similar in benefitting and taking 40% of the value from the work of creators, on an internet created with public money. People who are anti-capitalist are usually angry at rentiers, not capitalists. They really need to learn the difference. Hard working people including capitalists don't like rentiers either so if they educated themselves they might even get capitalists on their side. Capitalists invest in their businesses. Rentiers invest in lobbying a.k.a bribery and it pays well.
@jacobwortham80689 ай бұрын
The only problem I could see with this is corporations ditching physical office buildings and doing entirely remote work to avoid taxes.
@blubobbie9 ай бұрын
my one question is how do city parks work? a pretty, open field doesnt really seem like an efficient use of space, and i worry that they might cease to exist and replaced by endless buildings. i love all the ideas proposed here, but thats just the one thing im worried for
@Candoran9 ай бұрын
I would think some of these could reasonably be exempted from LVT if they’re operated by the local government as a public service.
@gcvrsa10 ай бұрын
The primary reason why it is so difficult for people to understand the benefits of a Georgist economic system is because the value of Nature is literally at the roots of all human economic activity, and a shift toward taxing land values rather than taxing economic productivity would completely and utterly transform every facet of human civilization from the ground up. This makes LVT seem as if it's overly simplistic to many people, who have been conditioned to believe Economics and Finance are terribly complex fields that cannot possibly be understood by the hoi polloi. So, when we say, "We can literally save the whole world with this one weird trick," people's brains immediately dismiss the idea.
@PlatinumAltaria10 ай бұрын
Economics is a science that people have been convinced is a religion.
@Jay_Johnson10 ай бұрын
LVT is overly simplistic as a replacement for all other taxes. Monopolistic exploitation of people's and industry's need for land is only one form of economic exploitation. Acting like land value taxes will solve all the ills of society is crazy.
@johnburns401714 күн бұрын
The criticism of land value tax is that it focuses only on land. The updated Georgist views of taxing economic rents includes finance and all monopolies. This is an aspect of Michael Hudson's work on debt.
@milobem44589 ай бұрын
Land tax has many advantages, but one thing that is almost always ignored in these videos is how to fairly appraise it's value. It's very easy to implement flat land tax (each square meter in the borough is taxed the same), and it's reasonably easy to tax the complete value of the improved land by tracking it's past selling price and maybe a threat of forced buyout if there is a suspicion of undervaluation. But how do you separate the value of land from the value of the improvements? Also the video goes a bit too far into fantasy land painting an overly positive picture of the side effects, ignoring the law of supply and demand in determining the prices of rents and services.
@thomasbroadbent95189 ай бұрын
Yeah, in the UK, the amount of council tax you pay is still linked to the price of your house for 1991. A revaluation of all houses all the time forever comes with serious drawbacks. It also doesn’t account for the issues in gentrification that such a system would entail. I admire the authors work but the lack of any meaningful evidence of disadvantages is disingenuous.
@Ildskalli9 ай бұрын
Oof, I thought this comment section was nothing but a circle jerk! Thank you for providing some needed realism.