Common Wealth Canada graphic: Eric Lombardi quote says earned income taxed heavily while land wealth barely touched; calls it
This might just be the biggest economic injustice of all.
Common Wealth Canada graphic: Eric Lombardi quote says earned income taxed heavily while land wealth barely touched; calls it
This might just be the biggest economic injustice of all.
Common Wealth Canada graphic: Philip Collins quote says it’s odd Labour taxes work; “let’s tax land” and windfall value.
British banker points out the irony of the Labour party wanting to tax work
We should tax windfalls from land instead
And I'd drink it!
Same text as in post. Via @UBIWorks.bsky.social #UBI #UniversalBasicincome
“Basic income has been shown to reduce health care costs, including an 8.5% reduction in hospitalizations. As Dr. Danielle Martin [the newly elected Liberal MP in today’s by-election] has so pointedly said, “If we discovered a drug that reduced hospitalizations by 8.5%, we’d put it in the water.”
Amanda McPherson portrait with quote calling for a productivity dividend in the form of UBI to share economic gains
If AI is eating the world, give everyone a slice
Korea Bizwire article screenshot: “South Korea launches rural basic income pilot,” with a family holding a local voucher card
South Korea launched basic income in rural counties across the nation to boost local businesses
Kim Pan-jong, who runs a tomato juice business, said he expanded into local retail after previously selling only online. "We expect more customers from within the region"
🫰
This should be the mainstream conversation around housing and Canada's future.
See the full video recording and more photos from our Toronto meetup with @ericlombardi.ca @commonwealthcanada.bsky.social and the Henry George Foundation of Canada:
www.commonwealth.ca/blog/toronto...
There are many working examples globally already, so policymakers should be eager to explore them.
This is how we put our biggest asset to work and better reward the workers, builders, and businesses who power our economy.
This slide is decades of policy solution work summarized: Land value return. Reinvest the public value back into the local economies that created it.
- replace harmful taxes on property / income, encourage building / work
- LVC to fund more transit/housing
- rebate the cash back to households
Canada's housing crisis is mostly a land crisis
newsletter.economics.utoronto.ca/is-a-land-va...
@econuoft.bsky.social
Supply doesn't tell the full story. Canada has higher home price-to-income than other peers with similar housing per capita.
Yes, this hides heterogeneity in the housing market, but it begs the question: if we address supply, should we also address demand for the biggest financialized investment?
This is reflected in the confused language we use
When homes get more expensive, it's a recovery
When it gets more affordable, it's a crash
When stagnant, it's sluggish
When prices are in freefall, we don't really know how to talk or feel about it
Rising home values have helped some, but hurt others. Do we want them to go up or down?
This is the ultimate crux of the housing debate, of which the nation is split and Canada's National Housing Strategy is completely silent on
@gensqueeze.bsky.social
Land makes up 60% of property values across the nation, and up to 90% in urban centres like TO and Van
It's also the biggest driver of wealth and poverty. The dilemma is that we have a political and economic system aligned on maintaining or boosting unaffordability
Land is worth more than our entire TSX market cap and roughly an order of magnitude more than all billionaires combined
And unlike other forms of wealth, it most directly impacts your cost of living, and its value comes from everything/everyone around it
The answer to housing and Canada's economic prosperity starts with land value. Sadly, politicians will go out of their way to avoid talking about it.
At our recent Toronto meetup, I spoke about why our big economic priorities all have land at the centre.
www.youtube.com/watch?v=6BQ7...
More and more people are beginning to understand this.
Jon Stewart portrait with quote framing UBI as a stronger economic floor, not entitlement but investment in people.
Looks like John Stewart is pro-UBI
We hosted Alaska's former State Senate President, Rick Halford and Dr. Jack Hickel of the Permanent Fund Defenders (and son of Alaska's 2nd governor Walter Hickel) to tell us lessons from the Permanent Fund Dividend
Canadians could be getting dividends, instead of letting our commons be plundered
10 years later, we know the Ontario Basic Income Pilot worked, even though cut short
1/3 of those working found higher pay
people built businesses, got healthier
hospitalizations dropped, graduation rates rose
People against it are against data
www.thespec.com/opinion/cont...
OpenAI officially proposed a Public Wealth Fund that pays UBI
“Returns from the fund could be distributed directly to citizens, allowing more people to participate directly in the upside of AI-driven growth, regardless of their starting wealth or access to capital.”
futurism.com/artificial-i...
Variants of it are already mainstream.
Transit-based land value capture.
Split-rate taxation.
Sovereign wealth funds.
"Not only don't people work less when they are guaranteed an income, they might actually put in more effort at work. And the fact that they have more money to spend leads to the creation of more jobs."
Nobel Prize–winning economists Abhijit Banerjee and Esther Duflo
How to unf**k Canada's economy
Stop taxing the next generation by hyperfinancializing housing
"How do we help the at-risk youth with housing?!"
"Well these programs where they just give them money with no strings attached while they get things together seems to help."
"....If only there were a way. Let's do more research."
UBI as a common wealth dividend from the value generated by society as a whole, nature, and technologies.
This is the framing advocates should get behind.
A feasible model is to build social wealth funds -- very mainstream already.
Common Wealth Canada graphic: Brent Ranalli quote says land/resources are common heritage; common wealth dividends are a righ
We should see UBI as a type of common wealth dividend.
It has no cost. Rather, it's a payment to us from something we own in common, like natural resources, sovereign wealth funds, and AI dividends.
More photos and slides (video coming soon):
www.commonwealth.ca/blog/toronto...