Common Wealth Canada
@commonwealthcanada
By taxing land instead of buildings, owners in both scenarios pay the same amount. This encourages more efficient land use and discourages holding just for appreciation—making our housing system 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
UBC's Patrick Condon has 3 solutions to the housing crisis, and it's all about land. 1. Stop using tax dollars to boost demand even more. 2. Capture land value to benefit the public, not speculators. 3. Use that value to build affordable housing.
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It's completely absurd that a city like Toronto has so much low-density housing around transit. The incentives are all backwards. It should be more profitable, not less, to build & maintain homes than to hold land underused.
B.C. could eliminate taxes on income, property, transfer, and SVT with a single tax on land value. It could leave most households ahead and make the tax system much fairer.
"Canada has built an economy where the best way to get rich isn't to invent create or build anything, it's to own houses and wait for prices to rise" "Money from work is taxed higher than money from owning homes" Imagine a housing minister saying this
Jeff Bezos: "The bottom half workers pay 3% of all taxes – it should be zero" There is a much better option than taxing working people. If the goal is fairness, start with land. It benefits from society's productivity without contributing back.
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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