It was generally an intelligent, robust debate.

Except for one thing.

Both men realised changing the tax code is central to resolving the financial crisis.

However, it was as though they’d both forgotten what generated the collapse …. this economic depression.

It was the greatest real estate bubble in the history of the world, guys – because the tax system fines labour, capital and productive enterprise and rewards real estate speculation, just as it did in Ancient Rome (Latifundia perdidere Italiam), and in the 1880s and the 1920s.

Someone erase your memories on this point?

And, of course, the proper response is for the tax code to give the right signals – by freeing up labour and capital and making people pay an annual charge based on the value of their landholdings.

It aint rocket science, but it would challenge the 0.1%, guys.

And you’ve shown neither of you have the ticker for this.

Or are you both so economically illiterate that the concept hasn’t even registered with you?

2 thoughts on “THE GLARING OMISSION”

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