AUSTRALIA’S GREATEST POLITICIAN?

CraigieEdward John Craigie (1871 – 1966) was the independent member for Flinders in the South Australian parliament from 1930 to 1941. A man of great integrity and brilliance, and a thorn in the side of both Liberal and Labor parliamentarians, he was finally defeated when the two parties shared preferences to oust him, although he still achieved the highest individual vote.

Speaking recently with ninety-six year-old longstanding South Australian Georgist, George Jukes, who knew Craigie as a “quiet and unassuming” man and an exceptional parliamentary performer, he recounted the story to me that when booth figures were returned following one election, the local bank manager was heard to berate his wife and daughter for having voted for Craigie. The secret ballot had not worked to help these ladies:  only one vote had been recorded against Edward John Craigie in that particular booth!

The following attest to EJ Craigie’s painstaking research and his enduring determination to repair the Australian social and economic fabric. They are great historical documents in their own right.

A study in central Melbourne land values – insights into the original subdivision of the city of Melbourne.

An appreciation of the political life of EJ Craigie

Costless Credit

General Motors-Holden profits

Jubilee without jubilation

Land and Wages – an amazing historical tour de force.

Protection or free trade

Rural rehabilitation

Sales tax versus land tax

Should the community buy back the land

Tax burden on industry

The case against the sugar embargo

The tariff and its effects on industry

The trans-Australian railway facts versus fiction

 

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IT’S A SIMPLE THING

Economics is simple.  From before the time of Confucius and the Old Testament up until today, many great philosophers have understood and supported the economic principles that have become known as Georgism. This was because the American Henry George explained it best, answering in detail each and every claim that has ever been put against it.  (If you have your doubts, you need to read Progress and Poverty – or listen to the 18-hour audio version here.)

Nations have three options.  They can can draw revenues only from land, labour or capital. (Four perhaps: from combinations of all three.)

If they draw most revenue from labour and capital, these taxes act as deadweight upon labour and capital and are passed on in prices. Economies taxing mainly labour and capital will tend increasingly to deter labour, capital and productivity, encouraging inflation – and speculation in land that grinds into regular recessions or a major deflation.

Economies that tax land will be successful, because a tax on land is actually a non-tax, a rent that cannot be passed on in prices. They will be so productive that they will encourage capital formation, higher wages and profits (without inflation), and deter speculation in land. They would be productive enough to generate a universal basic income for all citizens.

Once people comprehend these fundamental economic facts, they will marvel at the stupidity of the tax regimes under which world economies currently struggle.

How is it that economists, tax lawyers  and accountants are the last to appreciate these facts?

The only conclusion you can reach is that our education systems are failing us: we have become too ‘sophisticated’ for our own good.

 

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HALF RIGHT KPMG: FORGET THE GST HALF

http://www.accountantsdaily.com.au/breaking-news/8386-kpmg-calls-for-unprecedented-tax-reform?utm_source=Accountants+Daily&utm_campaign=Accountants_Daily_Newsletter27_07_2015&utm_medium=email

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GOOD TRY, TONY!

A Bill

A Bill 2

 

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AND THERE’S STILL NO “COSTLESS CREDIT” (n.b.!)

No costless credit_Page_1 No costless credit_Page_2 No costless credit_Page_3 No costless credit_Page_4

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FIDDLING WHILST ROME BURNS

fiddling

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PROPERTY COUNCIL TALKS ITS BOOK ON TAX REFORM

david collyer

 

 

David Collyer in MacroBusiness

 

 

 

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ARTICLE IN “THE CONVERSATION” NEATLY PRESENTS AUSTRALIA’S PROBLEM

warwick smith

 

It’s by Melbourne University research economist, Warwick Smith.

 

 

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YES, AND IS THE POPE A CATH…. A GEORGIST?

Pope Francis gives his thumb up as he leaves at the end of his weekly general audience in St. Peter's square

Pope Francis gives his thumb up as he leaves at the end of his weekly general audience in St. Peter’s square

I still had reservations about Pope Francis, until I read his encyclical Laudato Si’, since when I reckon this bloke’s the real thing.

Whilst I recommend sitting down and reading the whole encyclical–a magnificently intelligent piece–here are what I reckon are several highlights:  We’re bombarded with “… tendentious analyses which neglect parts of reality …”  This needs to be changed “..so as to hear…” “…the cry of the earth and the cry of the poor.”

Currently “…priority tends to be given to speculation and the pursuit of financial gain, which fail to take the context into account, let alone the effects on human dignity and the material environment.”

“…. once certain resources have been depleted, the scene will be set for new wars, albeit under the guise of noble claims.”

Reminding us of Leviticus 25:23: “The land shall not be sold in perpetuity … ” he says:  “St John Paul II forcefully reaffirmed this teaching, stating that ‘God gave the earth to the whole human race, without excluding or favouring anyone’.”

We’ve suffered “misguided anthropocentrism” and “…expansion of oligopolies for the production of cereals and other products needed for their cultivation.”

However, it is “…troubling that, when some of the ecological movement defend the integrity of the environment, rightly demanding that certain limits be imposed on scientific research, they sometimes fail to apply those same principles to human life.”

Under his heading “Integral Ecology”, the relationship between nature and society, Francis has this to say: “We urgently need a humanism capable of bringing together the different fields of knowledge, including economics, in the service of a more integral and integrating vision.”

“An integral ecology is inseparable from the notion of the common good, a central and unifying principal of social ethics.”

“The global economic crises have made painfully obvious the detrimental effects of disregarding our common destiny …”

“Doomsday predictions can no longer be met with irony or disdain.”

“The strategy of buying and selling ‘carbon credits’ can lead to a new form of speculation which would not help reduce the emission of polluting gases worldwide. This system seems to provide a quicker and easy solution under the guise of a certain commitment to the environment …”

“The myopia of power politics delays the inclusion of a far-sighted environmental agenda within the overall agenda of governments.”

“… the Church does not presume to settle scientific questions or to replace politics.  But I am concerned to encourage an honest and open debate …”

“Today, in view of the common good, there is an urgent need for politics and economics to enter into frank dialogue in the service of life, especially human life. Saving banks at any cost, making the public pay the price ….. only reaffirms the absolute power of a financial system ….”

Laudato Si’ covers much ground elegantly and is soundly argued.

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LEADERS’ RETREAT DISCUSSING ‘TAX REFORM'; BUT IS IT REFORM?

Increasing the GST is easy.

You’ve just got to get it past a couple of half-hearted, nay-saying State premiers, because ill-informed people believe it’s an answer to Australia’s budgetary problems.

It’s regressive: people who have no capacity to save will spend a greater proportion of their net incomes on it.

It isn’t real reform: it’s just more tax, adding further to Australia’s deadweight costs.

Land ‘tax’ reform is hard ….

…. because there is so much ignorance on the subject.

However, every study shows it to be the most efficient, encouraging economic growth, discouraging property speculation, and having no deadweight – because it’s an economic rent, not an arbitrary tax.

Let’s hope ignorance on the benefits of reformed land-based revenues can be overcome, and we don’t end up with an increased GST which, although it may raise extra revenue, will not encourage growth nor diminish Australia’s taxation deadweight costs one iota.

[See also Prosper Australia post today.]

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