OECD tries to do the impossible

  3 January 2018 International Co-operation and Tax Administration Division OECD/CTPA Dear Ladies and Gentlemen,           Circumvention of Common Reporting Standards (CRS)   May I respectfully suggest that the OECD has set itself an impossible task in...

From capitalism to rentierism?

Taxes on wages in Australia were fairly minimal until WWII, since which time they’ve been ratcheted up significantly. Federal taxes before the war consisted mainly of customs and excise charges and the federal land tax, introduced in 1910. The States and...

Where we failed: a telling chart

  In his paper American Government Finance in the Long Run: 1790 to 1990 (Journal of Economic Perspectives, Vol 14, Number 1) John Joseph Wallis demonstrates that US government finance experienced three separate phases:- Asset Finance Phase 1790 to 1842, where...

Regulatory bodies paid to look like idiots?

  All the great social philosophers have held that land must be rented, not sold, if communities aren’t to implode. One of them put it into a formula, saying that if we were to capture the social surplus, then labour and profits will receive their full and...