land tax

Australia’s AAA credit rating affirmed. How’s yours?

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i photo credit: Susanica The credit rating agency Standard & Poor’s overnight reaffirmed Australia’s AAA rating. Donald Horne’s 1964 label ‘The Lucky Country’ was ironic, yet fits our unique position as the western world endures its worst financial crisis since the Great Depression of the 1930’s. S&P says the risks to Australia include its dependence […]

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Ending the Fire Services Levy – almost excellent

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At the moment, Victoria’s Metropolitan Fire Brigade and Country Fire Authority are funded by the Fire Services Levy, a charge added to fire insurance. But the FSL gives a free ride to uninsured property owners – they don’t pay for the level of fire cover provided. Free riders increase the cost on other property owners.  […]

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Did you remember to sell the house today?

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Prof. Ross Garnaut gave the Hamer Oration at Melbourne University on Thursday. He pointed out that Australia has not experienced a recession for 17 years, a record for The Lucky Country. Such a period of unbroken growth is not just an Australian record, it is a world record. But one-way tickets have built-in risks for […]

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History of Debt and Property from the Ancient East

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Michael Hudson As first published in The Invention of Enterprise: Entrepreneurship from Ancient Mesopotamia to Modern Times, David S. Landes, Joel Mokyr, and William J. Baumol, eds., (Princeton: Princeton University Press, 2010):8-39. Also on Michael’s website. A century ago economists could only speculate as to the origins of enterprise. It seemed logical to assume that […]

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Victoria’s Transport Plan a No-Brainer

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    photo credit: Schaffner Sometimes the ignorance of experts makes my blood boil.  Why can’t they do the arithmetic, the sums plainly before them? The Victorian Transport Plan will cost $38 billion and produce benefits of $180 billion, according to a state-commissioned report by Ernst and Young.  If these numbers are right, the Plan […]

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Australia’s Needless Foreign Borrowing

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photo credit: Adam_T4 Michael Hudson and Shann Turnbull* 
            Confronted by the global financial crisis that is burying foreign economies deeper in debt deflation each month, Australia needs to protect itself – indeed, to liberate itself from as many costs and risks as it can. Fortunately, many of its costs and risks are unnecessary, merely […]

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Like Gold in a Coal Mine

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photo credit: 10b travelling   Clear-eyed media commentary in the national interest is rare and sweet. Alan Mitchell’s analysis of the Henry Tax Review in the Australian Financial Review –  A tax on all your economic rents  – is such a creature. He opens with a broadside at entrenched interests pretending the changes will affect the economy: […]

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Dr Henry wants you to read his Tax Review. Really, Really.

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  photo credit: raminders We follow the glitter of celebrities and our football teams and let others do the dull work of government. Our dreams are about homes, cars and holidays. But sometimes an issue is so important it deserves our undivided attention, if only for a short while. The big issue is tax – […]

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Henry Review: what about the land tax recommendations 51 to 54?

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photo credit: Troy McClure SF Gavin R. Putland Published in today’s Crikey In contrast to the Henry report’s advice that payroll tax be eventually abolished (recommendations 55 and 57), the Rudd government has decided to increase its own payroll tax. No, really. Australia’s federally mandated, employer-funded 9% superannuation contribution is equivalent in every way to […]

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Henry Review puts Land Tax on the Agenda

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photo credit: anarchosyn The Henry Tax Review’s highlighting of Land Tax as a policy direction is a welcome and encouraging development, says Prosper Australia. “This is THE tool to liberate the people of Australia from their current financial difficulties,” Prosper Australia’s Karl Fitzgerald said today.  “Consider the enormous economic benefits this reform offers. “Taxing land […]

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https://prosper.org.au/tag/land-tax/page/18/