Mark Wadsworth: Giant Sinkhole Of The Week

Tuesday, 18 January 2011

From The Metro: "Sinkhole 20 [metres] wide appears overnight in garden":

David Davis said...: I bet you 5p it's in Manchuria. They are sitting on 500 years' supply of coal.; 19 January 2011 at 13:13
James Higham said...: I want one of those. Can they be ordered?; 19 January 2011 at 15:45
Mark Wadsworth said...: DD, it's in Sechuan, which is nowhere near (I think).

JH, sure. I sell them by mail order, but most of my customers ask for them to be delivered to somebody else's address.; 19 January 2011 at 15:48
Derek said...: Sinkhole! Szechuan! That's what The Powers That Be want you to believe. But no. It's Taiwan. And this is no sinkhole. It's actually an example of what happens if you introduce Land Value Tax without reducing other taxes to compensate.

The Taiwanese owner moved his land offshore in response to a decision by his government to impose LVT on vacant lots. I bet they're kicking themselves now. If they'd just increased VAT this would never have happened!; 19 January 2011 at 21:10
Mark Wadsworth said...: D, true. The Home-Owner-Ists say that LVT would lead to "capital flight" so this must be what it looks like in practice.; 20 January 2011 at 10:24

Tuesday, 18 January 2011