Monday, 25 March 2013

Economic Myths: Work hard and you will get on in life.

Debunked over at www.buysellrentspain.com

My latest blogpost: Economic Myths: Work hard and you will get on in life.Tweet this! Posted by Mark Wadsworth at 12:07

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8 comments:

Old BE said...

Interesting. I'll get all my future advice from a get rich quick website. Did you see the next post which had HK as having a ridiculous house price boom? I thought HK was the land of milk and LVT honey. LVT being the cure-all for housing bubbles.

BE

25 March 2013 at 15:52
Mark Wadsworth said...

BE, HK is a special case, it proves the case for LVT rather than disproving it. I covered it on the KAALVTN blog.

25 March 2013 at 16:19
Old BE said...

Interesting, thanks. In which case are the "house prices" quoted on that blog really "prices for what's left of a share of a bigger lease"?

If your flat is on a patch of land whose lease expires do you end up not having any rights in the flat?

How complicated.

BE

25 March 2013 at 16:42
Mark Wadsworth said...

BE, what's the link to the HK article?

What happens when a 30 year lease expires, I do not know. Presumably the HK govt takes it over and charges you rent or auctions off the site again if there is scope to build something bigger and better.

25 March 2013 at 17:25
Robin Smith said...

MW Ignore. Troll.

Also ignore HK. LVT is happening there no more than here with UBR.

LVT has never been demonstrated ANYWHERE. For that to happen all taxation must be abolished.

The leases are resold on the inside to mates of the ruling tyranny. Get over it.

If people do not want LVT, even if you force it on them, nothing will happen. LVT is just an idea. Not the will of the people. And if an unwanted idea is forced onto the people, there will be a whole lot of trouble.

History so testifies, numerous times.

I have another idea on this that just might finally make progress. I'm waiting for others to want to think about it.

24 April 2013 at 21:42
Mark Wadsworth said...

RS: LVT has never been demonstrated ANYWHERE.

Yes it has. Of course it has. Domestic Rates, Schedule A tax, Business Rates, council housing, council allotments and so on.

None of these are anywhere near full-on LVT but they all led part-way to the results we would expect from LVT, and when these taxes were abolished or the land sold off, it always led to the dire results you would expect from NOT having LVT.

And as a matter of fact, income tax in HK is only 16%.

And we have had plenty of examples of NEGATIVE LVT (e.g. land subsidies, poll tax) and they always provably make matters worse, exactly as we would expect.

24 April 2013 at 21:50
Robin Smith said...

MW

Thanks for reinforcing my point:

"None of these are anywhere near full-on LVT"

Get it yet. Its the sort of thinking that helps one think Citizens Welfare is necessary with an LVT.

People are rent seekers. All of us. Even the ones who 'claim' to want LVT.

Whole civilisations are testimony to it. Staggering that no one can see it.

Welcome to the giant pyramid sale everyone wants to play.

Its called 'The Game'

http://gco2e.blogspot.co.uk/2013/03/the-game-defining-terms.html

Folks think The Game is a joke. Its real.

24 April 2013 at 22:06
Mark Wadsworth said...

RS, I see you are back in hyper-aggressive mode.

Unfortunately, you don't appear to understand logic or maths and are incapable of answering a simple direct question so there is not much point debating this. You're like a Home-Owner-Ist in many respects, really.

25 April 2013 at 06:49

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