Renegade Economist Talkshow 10th July 2009

[bozeman14]

frenetisk- learn how to spell - or at least apologize for your for your inarticular response.

[Addex]

They only talk about the size of goverment not the politics nor how taxes are raised.

[imigrantpunk]

So the guys stressed the importance of how taxes are collected and you can have a "productive" taxation system. then they completely failed to explain what this system would be. You need to make another video explaining your ideas.

[donttalktomeabout]

Read his book, Ricardo's Law. Income tax, corporation tax, stealth taxes (sales taxes etc) should be eliminated and replaced with a more appropriate and equitable LAND tax. Currently, the 'economic rent' from land is privatised to privileged land owners. This should be socialised for the good of everybody.

The model works extremely well in Hong Kong and could also work in the U.K., U.S., EU etc. The only obstacles are vested interests (land owners), and compliant politicians...

[15peter2015peter20]

Fred do you include or exclude Sweden from the "Scandinavian model" that you admire?

I ask because Sweden has high property taxes (40% capital gains on the sale of even a primary residence); annual property taxes of 1.5% of the value of the house/flat; 31% basic income tax; 31% employer's contribution; high stealth taxes e.g. 25% V.A.T.

50% of people rent their homes and enjoy State subsidised rents (for which they pay through the nose in direct & stealth taxation).

Ricardo's Law???

[pmagrin]

Hong Kong is at the other end of the spectrum. There the government is very small but funded mainly by land taxes. Their economy has thrived over the long term.

Going for the all encompassing welfare state Scandinavian model or the laissez faire Hong Kong model is for the people to decide.

Both are perfectly viable if funded correctly.

[15peter2015peter20]

pmargin, right, and that's my point: the Swedish model is NOT funded appropriately. They are following the same principles as the U.K., U.S.A and Australia. Except they tax more in all areas.

They still have property boom-busts, the privatisation of land value increases, and the highest direct and indirect taxation on wages and employment in the world.

The Hong Kong model is the right TAXATION model, but the Swedish model is the right WELFARE model. Combine the two and hey presto...

[justjacqueline2004]

Mr Obama may await the collapse of California and the other states,federally step in with the provisio that MUNI bonds lose their tax free status.These bonds are primarily owned by families whose income is greater than $500,000./pa.This would release a huge windfall for the federal government.

[SuperBlahmaster]

So essentially the tax burden should be shifted from wage earners to home owners? How would that work?