AGREEING ON ECONOMIC RENT?

I note on the Roosevelt Institute website, James K Galbraith testified on “Sensible Tax Reform” before the US Senate Finance Committee on 8 March 2011.

Insofar as his item 6. Should we tax labor, capital – or rent? came out in favour of the latter, Galbraith’s recommendations for tax reform are remarkably similar to those of Ken Henry in Australia.

I congratulated Galbraith on his submission by e-mail and received a thank you in reply.

With Greens on the left of politics arguing that a proper price should be put upon the use and abuse of our planetary resources, and the Tea Party right wanting taxation to be reduced, does this remarkable confluence towards the centre on tax reform represent the catalyst that might reconcile both political extremes?  

As it offers the only logical escape from the economic lunacy that has delivered the world into its deep economic plight, let’s hope so.