collect capital gains (economic rent) as it accrues
Frank de Jong
Speculation in the Toronto and Vancouver housing market – whether of foreign or domestic origin – inflates the cost of housing for everyone and kindles the risk of market crashes, as your editorial (Heat Over Houses – May 3) points out.
Rather then bickering, the former governor of the Bank of Canada and his successor could suggest steps to dampen speculation by echoing the advice of Globe columnist Doug Saunders in recommending Land Value Taxation (A Housing Crisis Of Global Proportions – April 28). Under LVT, governments would finance programs by collecting capital gains (economic rent) as it accrues, instead of taxing incomes and businesses.
Frank de Jong, Toronto
Earthsharing Canada
brendan hennigan
Frank de Jong,
There was also an article in the National Post (Canada) on how taxpayers are loosing out to condo speculation. There is an interesting fact on how Australia addressed the problem.
Date: Mon, 7 May 2012 14:08:42 -0400
Subject: collect capital gains (economic rent) as it accrues
From: fde...@earthsharing.ca
To: earthshar...@googlegroups.com
Rent’s dueSpeculation in the Toronto and Vancouver housing market – whether of foreign or domestic origin – inflates the cost of housing for everyone and kindles the risk of market crashes, as your editorial (Heat Over Houses – May 3) points out.
Rather then bickering, the former governor of the Bank of Canada and his successor could suggest steps to dampen speculation by echoing the advice of Globe columnist Doug Saunders in recommending Land Value Taxation (A Housing Crisis Of Global Proportions – April 28). Under LVT, governments would finance programs by collecting capital gains (economic rent) as it accrues, instead of taxing incomes and businesses.
Frank de Jong, Toronto
Earthsharing Canada
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