How do we achieve:
- Cheaper housing? (Well, land actually!)
- Half-price goods and services? (Making our exports cheap!)
- Double wages – without inflation?
- Double small business profits – without inflation?
- The abolition of poverty and a decent universal income – without inflation?
- Prosperity for all – without inflation?
It’s politically near-impossible, because vested rent-seeking interests like things the way they are, but the method is extremely simple:
- We un-tax labour and capital.
- We tax land prices away by public capture of land rent. (a) That’s the dark blue 16% in this chart which showing unearned ‘economic rent’ to be 50% of the economy. (b)That will do all that current taxes and transfer payments do–and much more!–whilst abolishing the 34% of extractive deadweight losses shown in this chart, acting to abolish real estate speculation and to re-generate real wealth creation and social prosperity.
As the remedies are difficult politically, economists and politicians have given up on these reforms, preferring to tinker around the edges.
But it’s more than worth doing – and with bit of commitment it can be done!