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August 29, 2012

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Yeah! Probably not. The world is round and it means to keep moving. Progress will always be there.

The future of the world is our decision: by our public policies, we can encourage or discourage propensity for all. Much depends on the incentive of our tax system. When the US was growing, most of the cities' incomes were based on property taxes, both on the land and on the buildings and other improvements. The first had the effect of not encouraging the acquisition of land titles unless the person or organization had immediate plans to use it. It discouraged land speculation.
Lately the cities and states have resorted to tax on work, such as sales tax, wage tax, which discourages working and job creation while encouraging land speculation and land profiteering. This works again the worker and the true entrepreneur, since they see the value of their work, whether manual or mental, decreased.
A shift from taxes on work, including the building portion of the property tax to the land portion of the property tax, has been employed in some cities in Pennsylvania and elsewhere, with positive results, most easily demonstrated in the increase in building permits requested by the private sector.
http://en.wikipedia.org/wiki/Land_value_tax
http://wealthandwant.com/

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