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Common Wealth Canada

@commonwealthcanada

When you hear housing crisis, think land crisis.

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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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"All the commons, all the royalties from those commons need to go into the [Alaska] Permanent Fund… because it's ours." Canada's vast natural resources should be managed the same way. We should be using it to fund dividends for all Canadians.

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"My paycheck goes straight to rent -- there's nothing left." How many Canadians see 50-100% of their income get sucked up by land rents and income taxes? We should untax work, and shift taxes to the rental value of land.

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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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Paying everyone dividends from wealth we all have a moral claim to - whether that's natural resources, social wealth funds, or AIs trained on our data - is how we achieve Keynes' vision of 20-hour workweeks. It's how we achieve a Star Trek economy.

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Toronto real estate broker John Pasalis talks about land value tax, an old idea with renewed interest to improve the housing system.

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At the root of our housing crisis is the collective desire to treat homes as an investment, not just a place to live. How do we turn that around?

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"Those who are taking from the commons, who are making profits from our commons, should compensate the commoners. And those who are polluting the commons, diminishing our commons, should be compensating those who are suffering as a consequence." — Guy Standing

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GenSqueeze's Paul Kershaw tells the hard truth about Canada's housing crisis: "To restore affordability for all, we need home prices to minimally stall or fall, so that earnings have a chance to catch up... 70% of Canadians support this." It's time to tax land, not paycheques.

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