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Rod's avatar

Well written, Brian.

One idea for the mix: I read of a scheme in Europe where owner-occupied homes are built on leased land. The cost of the land (which in Vancouver is possibly worth more than the building) is not included in the drastically reduced mortgage payment. The land belongs to equity funds and various tax incentives (such as deductions for depreciation) make it worth their participation.

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Jane Duval's avatar

I believe Henry George had the answer. In his book. "Progress and Poverty", George said that we cannot live without land, air and water. Putting land in the category of "wealth" is a basic category error in human thinking, which eventually leads to the downfall of every advanced society.

The solution is for gov't to move towards a tax system that is based strictly on land value. This would allow for the elimination of all other taxes --which are unfair anyway, i.e., taxes on labour, improvements, etc. (Land value, by contrast, is determined by location and community amenities. Land owners need do nothing -- profit just happens while you sleep.)

Vancouver was once a 'Single Tax' city -- inspired by the Georgist millionaire, Joseph Fels. Fels came to Vancouver in his private train to convince early city fathers to consider this most rational and just option.

Einstein agreed with Henry George, and so do I. Nothing else will ultimately work.

Jane Duval

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