photo credit: SvenDowideit Respected Ecological Economists Herman Daly writes in Modernizing Henry George: Economists have traditionally considered nature to be infinite relative to the economy, and therefore not scarce, and therefore properly priced at zero. But the biosphere is now scarce, and becoming more so every day as a result of growth of its large and dependent subsystem, the macro-economy. … Read More
What Can’t Be Hidden from Revenue
Phillipe Legrain First published in The Times as Tax land: it can’t be hidden from the Revenue Filling the gaping hole in the Government’s finances is, in George Osborne’s words, the “great national challenge of our generation”. Unwise spending cuts and tax rises could sap economic growth; unfair ones provoke political unrest; inaction a market panic. Faced with a national … Read More
Man in Street Says Tax Me, Not Miners
photo credit: iLoveMountains.org With this weeks poll showing that many Australians were undecided on the Super Profits Resource Tax, they are effectively saying ‘please sir, tax me’. ‘No I wouldn’t think of ensuring that the privileged pay their fair share, please I emplore you – tax me!’. With 20 leading economists coming out in favour of the tax (thxs John … Read More
Negative Gearing Too Risky? So Are Property Bubbles…
The Rudd- Swan government’s flat denial of negative gearing reform proves that modern politics is incapable of dealing with the difficult questions. It was all too risky in an election year. The dreams of working families are set to play second fiddle to the propertied class for years to come. But yet the announced reforms are the most significant tax … Read More
One Handed Housing Supply
photo credit: Ian Sane On the one hand, the market delivers the best for the least cost. But on the other hand…. few are willing to call it as it is. Yesterday’s National Housing Supply Report used coded language to hint at a ‘possible over-supply of housing’ due to housing investor tax breaks (p50). However the usual suspects were missing … Read More