The IMF says we’re in a dangerous new phase “with a recovery that is much weaker than was predicted”.
Er, hate to tell you ….. there can be no recovery until we un-tax labour and capital, and then capture our economic rents for revenue. We’ve got to get things moving again.
This revenue switch is the sine qua non for financial recovery. It’s non-negotiable, guys. Without it, economies are going to experience a lingering death – like Japan’s after its colossal real estate bubble burst at the end of the 1980s.
Got it? No recovery without capturing land and natural resource rents instead of taxes.
So, please don’t mention the word “recovery” again until it’s in the same sentence as land and other natural resource rent capture. OK?