Renegade Economists Show 577
As broadcast on the 3CR airwaves 6 – 6.30pm on the fourth Wednesday of the month.
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Welcome to the 4th episode of the Renegade’s Georgist podcourse, with a call out to your inner tax geek. Adam Smith’s Canons of Taxation provide a backdrop for analysing the need for beneficiary pays to be more prominent in tax reform analysis. We finish with the Marxist distraction away from the necessary analysis of monopoly power.
How Land Taxes add to the economy:
This graph is taken from the Treasury Re:Think Tax Discussion paper
Modelling also suggests that broad-based land taxes, such as municipal rates, have a low economic cost (Chart 2.9). This is because land is immobile (unlike other capital) and cannot be moved or varied to avoid tax. The model applies this assumption to both domestic and foreign ownership of land. Land taxes paid by foreign and domestic landowners are only redistributed to the domestic households, providing a benefit to Australian households and generating a negative marginal excess burden for a broad-based land tax shown in the chart.
Check the previous podcourse shows, designed for those wanting to understand the basics of Georgism.
Review the past 573 weekly shows
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