DOMINIC FRISBY ON LVT

Except, Dominic, we wouldn’t have to levy an LVT that would raise the SAME amount as all other taxes, because current taxes carry an incredible deadweight loss of about twice the amount levied into the economy (see Martin Feldstein on income tax deadweight). Because LVT has zero deadweight loss, we’d only have to raise half the amount of other taxes! 🙂

REAL WEALTH IS WHAT’S LEFT AFTER RENT-SEEKERS HAVE HAD THEIR WAY WITH US

But the Productivity Commission, the Australian Taxation Office and our politicians can’t accept this truism.

So, who’s running the show? Rent-seekers or us?

Clearly, the 0.1 %, the rent-seekers!

“Occupy Wall Street” and Gilet Jaunes may protest, but they haven’t a clue how it’s done, because they can’t get their heads around the term, “rent-seeking”. What good’s a revolution if they don’t understand the 0.1%’s economic mechanism – and put an end to it?

This has been known for a long time. But who has the money to resist political change? Not the 99.9%!