Neil Mitchell is one of the better shock-jocks on Australian mainstream media. On 3AW this morning he was with state Liberal leader John Pesutto berating the increases in WorkCover. In my opinion they were thoroughly entitled to do so. The charges are terrible.

However, all taxes are terrible, except for the ‘tax’ that is not a tax: land ‘tax’, which is actually a rent and cannot be passed on in prices as all other taxes are currently being passed on – and getting the nation in one hell of a mess in so doing!

But Neil Mitchell is as antagonistic to land taxes as he is to all other public charges. He needs to see and understand economics’ most fundamental lesson. Here it is Neil.

First from the Classicists: –

Then from modern economists: –

So, we’re heading into a financial depression because we either deny, or are ignorant of, the socio-economic destruction that privatising publicly-generated economic rents generates each 18 years, Neil.