Michael Hudson Part 4 Economic Rent

[0MoTheG]

Why have "property"(land)? make it government owned and auction the right to rent to the highest bidder. f.e. if someone wants to build a home he would buy the right to rent the land for 100 years, after that he would have to clear the land or set a new time(his right as the for-renter) and win the auction.

[LastReplaySC]

now they are even taxing what I breath out: CO2

I can dream up taxes all day:

sleeping tax, shit & piss-tax, fart tax, sun tax, oxygen tax, sex&wank-tax, sunglasses tax,  a super tax on taxable tax.

guys we are being fucked....... it's time to stop this shit.

[canaan1967]

@LastReplaySC

Blame the corporations they get more of our tax money than us

[LastReplaySC]

@canaan1967 "we're in a "CORPERATOCRACY" .... the merger of Govt & Corperations ...... Its a type of "facism" ... I can't blame anyone but myself for taking part in this madness ..... So get a grip wake up and act or has public Govt education and the corperate media Brainwashed you into submision?

[canaan1967]

What does he mean by lowest priced labor?

[motina10]

@canaan1967

By taxing land, and other forms of rentier income. The values of the commodity or product, will be taxed away. It is government services that raise land values. Transportation,e roads, sewage, communication, etc. Most services corporation provide is through infrastructure built by or subsidized by the government. The city of London benefits from large lands values as the result of improvements to the land. So any gains should be taxed. It was government who gave it to you.

[motina10]

continued... In the end, if people are making big off government made monopolies, or improvements, then they should pay for that service. The money made from this can be paid for better health, education, and lifestyle. The in the end it will cost the labourer less, thus requiring less money to live off, resulting in lower salary demands, and less expense on corporations who pay for this labour. It is win win.

But of course greed exists. So this is why things are not like this.

[canaan1967]

@motina10

But this won't get rid of the profit incentive will it? What about niche consumerism that wants people to buy things they don't need? If we as labourers receive less income then how are current prices, which I think are artificially set our of greed, going to be lowered across the board? 

[motina10]

@canaan1967

If you watch the other Michael Hudson videos does by the Renegade Economist, he said the junk mortgages that are worth 22 cents on the dollar, should be sold at 22 cents on the dollar, not 100 on the dollar. The Seller is at a loss, and the buyer can then sell these for 23, 24 or even 25 cents on the dollar. Thus making a profit of 1-3 cents a dollar on these junk mortgages. They are till making a profit, but the good in now a about a quarter of he original price.

[motina10]

continued...

If you want to play capitalism, someone has to be the losers, and here we have had the ones with the junk mortgages keep their unearned profits by having the government come in and buy them at 100cents on the dollar. They should have been the losers, while the one buying them at 22 cents on the dollar should have been the winner. If you want to talk about profit incentive, it does not exist. Only outright theft by the one who created the original bad debts.

[WilhelmDrake]

@canaan1967

How would taxing economic rent get rid of the profit motive? If anything it encourages people to actually work and produce things by taxing away the free lunch. People will no longer be able to get rich "in their sleep".

[grumpone]

A very interesting and forgotten economic law. Thank you Hudson for expressing it. This is indeed one of the solutions together with major government shrinkage that would revive the West.

[canaan1967]

@grumpone

I realized you are in Aus. I was referring to the US government.

[bstill3]

Thank God Mike Hudson's perspective is now preserved on YouTube forever.

[ourearthhome]

Wouldn't you like to have no tax on your income from wages or on the house you build to live in or on any other improvement you build on your land? Wouldn't you like it if cities would rebuild themselves from the inside out without the need for government redevelopment programs or any other kind of public subsidy? Wouldn't you like it if urban sprawl would end and cities grow outward only if they absolutely needed to? Taxation of economic rent could have accomplished this already and still could

[motina10]

@ourearthhome

Exactly, great for any of those who went through for architecture or urban planning. The plans used to improve living condition might actually work, instead having it all that go to banks through interest payments, when someone sells their home 4x the price than when they got it.

[nickglais]

The more people that hear him the more people will agree with Michael Hudson distribute his videos