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Land Value Taxation: Rebuttals to Common Objections

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Geolibertarian:
Zero Hedge got it right months ago: the Republican tax bill is, indeed, primarily a tax cut for the top 1% (which, as I've been saying for years, is composed disproportionately -- not of "producers" -- but of parasitic rent-extractors).

Those who blindly insist that this regressive bill benefits primarily "the middle class" and "working families" are (to put it mildly) as gullible and naive as Obama supporters were when they blindly insisted that the passage of Obamacare meant that health care was going to become more "affordable" for the average American.

https://www.vox.com/policy-and-politics/2017/12/18/16791174/republican-tax-bill-congress-conference-tax-policy-center

The Republican tax bill got worse: now the top 1% gets 83% of the gains

In its last year, the bill raises taxes on more than 53 percent of Americans.

By Dylan Matthews
Vox
Dec 18, 2017

By 2027, more than half of all Americans — 53 percent — would pay more in taxes under the tax bill agreed to by House and Senate Republicans, a new analysis by the Tax Policy Center finds. That year, 82.8 percent of the bill’s benefit would go to the top 1 percent, up from 62.1 under the Senate bill.

And even in the first years of the bill's implementation, when it’s an across-the-board tax cut, the benefits of the law would be heavily concentrated among the upper-middle and upper-class Americans, with nearly two-thirds of the benefit going to the richest fifth of Americans in 2018.



The paper is the first rigorous analysis of who wins and loses under the bill as agreed to in conference committee. House and Senate negotiators agreed to a number of changes in the bill, most notably lowering the top income tax rate for individuals to 37 percent from its current level of 39.6 percent. The analysis does not include an additional cost of the legislation: its repeal of the individual mandate, which the Congressional Budget Office estimates could cause as many as 13 million fewer people to have health insurance, reducing federal spending for poor and middle-class Americans’ health insurance by $338 billion over 10 years. That worsens the bill’s distribution for the poor and middle class.

Almost all provisions of the bill, with the exception of the reduction in the corporate tax rate from 35 percent to 21 percent, are temporary, expiring at the end of 2025. One exception is the adoption of a new slower-growing inflation measure to adjust tax brackets, a change that effectively raises taxes over time and helps pay for the permanent corporate rate cut. Since corporate rate cuts mostly help Americans rich enough to own stock, that means that in 2027, poor and middle-class Americans would see a very mild tax increase on average:

[Continued...]

TahoeBlue:
yeah is always sad ... the trickle down meme continues ...
Oh this is globalization continued ... corporate tax rates in the US are now to be normalized to the globalist agreed level ! ..

Now that US capital has been moved to all the other globalist controlled countries and the meltdown of US industry is complete ,,, Trump comes to at least stem the tide ... without any incentive to return the 10 trillion that is off shore  ...

Then also is the move to the flat tax for the little people in stealth mode with the doubling of the standard deduction and removing deductions .

as far as I can tell my fed taxes will be higher in the future ...

Oh and don't get me started on the whole global  corporate accounting in the world to day ...
Do you trust Author Anderson or KPMG  global  accounting  ?   geez

How much does oil really cost .?

How much does Google really make ?

What are the real profits of these pirates ?



--- Quote from: Geolibertarian on December 22, 2017, 09:42:58 am ---Zero Hedge got it right months ago: the Republican tax bill is, indeed, primarily a tax cut for the top 1% (which, as I've been saying for years, is composed disproportionately -- not of "producers" -- but of parasitic rent-extractors).

Those who blindly insist that this regressive bill benefits primarily "the middle class" and "working families" are (to put it mildly) as gullible and naive as Obama supporters were when they blindly insisted that the passage of Obamacare meant that health care was going to become more "affordable" for the average American.

...

--- End quote ---

Geolibertarian:
And there's nothing in the Republican tax plan that will reverse this trend. In fact all the evidence I've seen indicates it will make the rent-wage gap even wider. So get used to seeing more news stories about the "retail apocalypse," because extortionate rent-gouging is making it extremely difficult, if not impossible, for increasing numbers of Americans to go shopping. "Great again" my ass!

https://finance.yahoo.com/news/peter-thiel-vast-majority-capital-give-companies-just-going-landlords-134709786.html

Peter Thiel: The vast majority of the capital I give companies is just going to landlords

Julia La Roche
Yahoo Finance
March 16, 2018

Billionaire venture capitalist and entrepreneur Peter Thiel believes the high cost of living is stifling entrepreneurship in Silicon Valley.

“One thing I’ve been thinking about as a venture capitalist in Silicon Valley is the vast majority of the capital I give to the companies is just going to landlords. It’s going to commercial real estate and even more to urban slumlords of one sort or another. And that’s an odd thing to be doing as a venture capitalist. That’s so disproportionate,” Thiel said at an event on Thursday hosted by the Economic Club of New York.

He explained that when a one-bedroom apartment goes for $2,000 in San Francisco versus a one-bedroom in Austin for $1,000 that suggests that San Francisco is a better place to live. However, when the rent on that one-bedroom in San Francisco reaches $4,000, perhaps it’s time to be open to other areas.

[Continued...]

Geolibertarian:
Why are both high-level Democrats and high-level Republicans so vitriolically opposed to Henry George's Single Tax? Because if that policy reform were implemented, it would eliminate their economic free lunch.

http://www.latimes.com/nation/la-na-hannity-landlord-20180427-story.html?outputType=amp

In Georgia, Sean Hannity is just another landlord hiking the rent

By MATT PEARCE and JENNY JARVIE
Los Angeles Times
April 27, 2018

Fox News host Sean Hannity is one of the most recognizable media figures in America. He has the ear of President Trump. His show is one of the most popular on cable news.

But you wouldn't know it from talking to the tenants at the Meadows, a modest neighborhood of duplexes in Lithia Springs, about 15 miles west of downtown Atlanta.

"Who?" Keith Jones, a 62-year-old pipe layer, said blankly in an interview this week.

"I don't know who he is," said Sherrice Rouster, a 38-year-old self-employed childcare worker and tax preparer.

Hannity is their landlord, and he's raising their rent — a lot.

[Continued...]

Geolibertarian:

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