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Common Wealth Canada

@commonwealthcanada

"The uncomfortable truth is that Canada's high home prices are a deliberate policy choice. Our system encourages housing as an investment rather than a basic affordable need." — John Pasalis, President of Realosophy Realty

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The US, UK, Canada and Ireland all have a similar number of housing units per capita, yet Canada is far more expensive. Of course we need more homes built, but this just shows that there's more at play than just supply.

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Workers are overtaxed and 'double-billed': they pay tax on income, which funds public goods that raise their rent. The late economist Fred Foldvary said this is a major cause of income inequality and why we should tax land instead of wages.

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Common Wealth Canada

When a neighbourhood improves, owners get the wealth; renters pay that wealth. This is a fundamental imbalance in our society that land value tax solves.

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We could virtually eliminate income tax for Canadians if we better taxed land and resource rents instead. Instead, working families are getting the snot taxed out of them while rents rise.

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Common Wealth Canada

Adam Smith, the godfather of capitalism, strongly believed that we should tax land, not workers. Why tax what people have earned? We should tax what people have not earned. That would encourage more housing and make our economy work better.

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"UBI seems to be effective...I don't need it to be perfect, I just need people not to starve." - George Stroumboulopoulos

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Paypal co-founder Peter Thiel calls the US, UK and Canada a "Georgist real estate catastrophe". A giant wealth transfer from younger/working class to older/landowners. He supports taxing land (over other things) to fix housing and the economy.

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How to unf**k the economy This finance expert says tax land. Land rents are effectively a tax on the next generation and workers. We should AXE THE TAX on young people by sharing land value better. This is how to unf**k Canada

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The public has funded many technologies that today fuel massive private sector rents (excess profit). Economist Mariana Mazzucato believes we should better share this co-created wealth, through policies like citizen's dividends.

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"If we want real affordability we need to stop pretending that supply alone can fix this crisis. No matter how much we build investor demand is growing even faster."

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