Sharing The Land, Land Rent, and Money Commons and a Little on Conscious Evolution
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Sharing The Land, Land Rent, and Money Commons and a Little on Conscious Evolution. International Union for Land Value Taxation Conference July 25, 2013 Gary Flomenhoft, Lecturer, Environmental Science Fellow, Gund Institute, U. Vermont. Precautionary Principle for Reformers.

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Sharing The Land, Land Rent, and Money Commons and a Little on Conscious Evolution

International Union for Land Value Taxation Conference

July 25, 2013

Gary Flomenhoft, Lecturer, Environmental Science

Fellow, Gund Institute, U. Vermont


Precautionary Principle for Reformers

There is nothing more difficult to carry out, more doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.

— Nicolo Machiavelli, 1490


Conscious Evolution-Riane Eisler

Dominator to Partnership Economy

DOMINATOR

PARTNERSHIP


Conscious Evolution-Eisler

Dominator to Partnership Economy

DOMINATOR

PARTNERSHIP

CARING ECONOMY

NEO-LIBERAL ECONOMY


Conscious Evolution-Paradigm Dialectic

Thesis Anti-thesisSynthesis

DominatorAnti-DominatorPartnership

Patriarchy  Feminism  Egalitarianism

Anthropocentrism  Biocentrism  Biospherism

Infinite Growth  No Growth  Sustainability

Capitalism Communism  Caring, Justice, Geoism?


Ecological Economy = Throughput

ECONOMY

Labor & Capital

transform resources

POLLUTION

(sinks)

DEPLETION

(sources)

LAND USE

(sites)


US Severances Taxes (rent): minerals, ores, fuels, forests, fisheries, etc.

(Source:http://www.ncsl.org/issues-research/budget/state-energy-revenues-update.aspx)


http://www.swfinstitute.org/fund-rankings/)

Oil, gas, minerals, diamonds, copper, phosphates

Education, development, pensions, dividends, etc.


Alaska Model: Alaska Permanent Fund

(sub-surface minerals public property)


Sink Rent=Greentaxes


Sink Rent


+4,3

2003

2002

+2,5

2001

+3,0

2000

+2,5

+4,3

1999

FINANCIAL EFFECTS OF 1999 ETR IN GERMANY (IN BILLION EURO)

Energy taxes in Germany increased by 55 percent, additional increase in 2005 through truck toll

~ 56

~ 53

3,0

+ 3,0

Road Toll (0 → 9-14 cents/km)

18,7 bn €

= 55% in-

crease

6,5

Electricity (0 → 2,1 cents/kWh)

2005

5,0

Natural gas (0,2 → 0,6 cents/kWh)

1,8

Fuel oil (4,1 → 6,2 cents/l)

16,0

Diesel (31,7 → 47,2 cents/l)

Road toll for trucks

ETR

Petrol (50,1 → 65,6 cents/l)

~34

22,8

Total green taxes almost 90 Bn (incl. tobacco, land etc.)

Energy taxes

Energy taxes 2003/2005

1998


1999 GERMAN ETR: RECYCLING OF THE RETURNS

Almost 90 Percent was recycled to citizens in order to reduce labour cost

  • Environment Projects

  • Renewable Energies

  • Less CO2 in buildings

  • Tax break bio-fuels

Govt.

Budget use

Social Security

Economy

Pension system

  • Our Comment:

    • Great idea, in principle

    • Less than perfect execution

Decrease in pension costs = 16 Bn relief for employers, employees and pensioners


Green Tax Shift-Vermont


Green Tax Shift-Vermont

$500 Million Green Taxes


Green Tax Shift-Vermont


Capitalism 3.0-Barnes-Common Sector Trusts


VT Common Assets Trust Fund-VCAT

Protect certain common assets (such as air and water) for the benefit of present and future generations,

Establish a framework under which certain users of those common assets may be assessed fees

Deposited into a common assets trust fund

Managed so as to protect those assets and serve the interests of present and future people of the state.


VT Common Assets Trust Fund-VCAT

Legislation S.44-2007 MillerH.385-2011 Pearson

  • Based on Barnes Capitalism 3.0

  • Collect revenue on natural and social assets.

  • 25% minimum dividend for citizens


Vermont Resources-Sovereign wealth?

No oil

No natural gas

No coal

No precious metals

No gemstones

No sun

Not much wind

What do have of value?


Vermont Resources

Cows

Maple Syrup


VT Common Assets Trust Fund-VCAT

How much is it worth?

Natural Common Assets:

Air, Fish & Wildlife, Public Forests, Groundwater, Surfacewater, Minerals, Wind,

Social Common Assets:

Internet & web, Broadcast Spectrum, Land Value, Financial System, Monetary System

(Pharmaceuticals, etc not included)


COMMONS-SOCIAL

  • Financial Speculation tax: 30% of value of public companies is from publicly created value: Regulation, Stock market, liquidity, etc.

    • Money Creation/Seigniorage: Fed Reserve

    • QE3=$85B/mo = $1T/year

    • Why not Basic Income? = $3164/person/yr)

    • Isle of Guernsey-public money

    • Broadcast Spectrum: 98% given away free

    • Internet & web: US military-100% public funding

    • Land value: socially created


Public Trust Doctrine-VCAT

“As society moves forward, the list of assets that should belong to the people in common because the assets were inherited or created together, and therefore should be preserved in the common interest has expanded now logically to include natural assets such as undisturbed habitats, entire ecosystems, biological diversity, waste absorption capacity, nutrient cycling, flood control, pollination, raw materials, fresh water replenishment systems, soil formation systems, and the global atmosphere; and also to include social assets such as the Internet, our legal and political systems, universities, libraries, accounting procedures, science and technology, transportation infrastructure, the radio spectrum, and city parks. In enacting the regional greenhouse gas initiative (RGGI), the state of Vermont already has determined that the ability to discharge carbon into the atmosphere is an ability that belongs to people in common, and that needs to be managed in the common interest.”


Total Co2 Emissions in Vermont-Jennifer Kenyan and Beth Nolan

Sept 2008 Auction: $3.07/tonne x 8.44 = $25.9 million

High Estimate: $300/ton x 8.44 = $2724 million ($3gas)

(>$4 gas tax: Austria, Belgium, Czech, Denmark, Finland, France, Germany, Ireland, Italy, Netherlands, Portugal, Spain, Sweden, UK)


Fish and Wildlife Rent-Ross Saxton

Low = $10.4 Million

High = $25.1


Forests-Mark Kolonoski

Public-

State Forests

$3.2 million

State Parks

$6.58 million

Fish and Wildlife

$180,486 (logging)

Current Use Program

$17 million

TOTAL $27 million

Private-

Forest-based manufacturing

$207.4 million

Recreation/tourism

$485 million

Forestry and logging

$32 million

Paper and Pulp

$50 million

TOTAL $774 million


Revenue Generating Suggestions

  • Leave public lands alone

  • Current Use withdrawal penalty

  • Depletion of Ecosystem Services (DES) tax

  • Impose auction and insurance bond regulation

  • Vermont Public Land Bank

  • Low=10% of $32M from logging = $3.2M High = $32M


Groundwater Economic Rent-Colin McClung

Low

High: $121.4M


Surface Water-Elliot Wilkinson-Ray

  • Current Private Revenue:

  • Public Supply: $ 35,000,000

  • Wastewater Permits: $ 1,692,350

  • Hydroelectric (dams): $ 164,775,527

  • Thermoelectric (nuke): $ 316,000,000

  • Recreation: $ 109,096,309

  • Total: $ 626,564,186


Surface Water-Elliot Wilkinson-Ray

(small discharge fee)


Rent

  • Hydro:10% of revenue ($164,775,527) $16,477,553

  • End Local hydro subsidy: $ 6,000,000

  • Vermont Yankee 5c/1000gals:$ 7,600,000

  • Public Consumption 5% (over 40,000): $ 639,000

  • Other uses: $.05/1,000 gallon

  • (24 million gallons/day) = $ 438,000

  • Total surface water rent: $ 31.2 Million

  • (Low and High)


Vermont Mining Revenue 2005-Ian Raphael

Low = 10% severance tax =$9.68

High = $16 million


Public Revenue from Wind Farms-Susan Salka

  • Assume 6.6 cents per kwh* selling price** x 689,850,000kwh/yr

    • = $45,530,100 - $38,631,600 = $6,898,500.00

  • Assume 10.6 cents per kwh* selling price** x 689,850,000kwh/yr

    • = $73,124,100 - $38,631,600 = $34,492,500

  • Assume 30.6 cents per kwh* selling price** x 689,850,000kwh/yr

    • = $211,094,100 - $38,631,600 = $172,462,500


Land Rent in Vermont-Conor Casey

Current State Property Taxes are set at ~1.05%, with municipalities adding additional rates.

Current Revenue

  • Current Use Penalties

    • $489,540

  • Speculative Gains Penalties

    • $5,646,165.77

  • Property Transfer Tax

    • $38,315,508.89

  • State Property Tax

    • $696,371,326

  • Total Revenue

    • $740,822,540


Land Rent

  • Low=A state land tax of 5% would capture most if not all of this rent, collecting $1.07 billion- $740 = $329.8

  • High = 10% = $2143M

  • (Altoona, PA 36% land tax)


Internet as a Common Asset-Ida Kubiszewski

Rent Potential


Spectrum in Vermont-William Murray

“They Used to Rob Stagecoaches, Now they Rob Spectrum.”

John McCain

  • Per Capita Value of Spectrum : $1002.12

    • In Vermont (x629,908) : $625.23 million/yr

    • *40% normal profit = $250 million/yr

    • Economic rent = $375 Million/yr (Low and High)


Financial Speculation-Liquidity trust 30% Barnes

Dean Baker

Current Trading Projected Tax Rate Revenue

(Annual Rates) Volume AfterTax Volume (both sides)

Stocks $11 trillion $7.3 trillion 0.5% $36.5 billion

Government Bonds $41.6 trillion $27.7 trillion 0.1% $27.7 billion

Corporate Bonds $22.1 trillion $14.7 trillion 0.1% $14.7 billion

Futures Contracts $100 trillion $66.7 trillion 0.02% $13.3 billion

Currency $200 trillion $133.3 trillion 0.1% $33.3 billion

(worldwide) (U.S. share = 25%)

Swaps $22 trillion $14.7 trillion 0.02% $2.9 billion

Options Not available NA 0.01% NA

TotalUS Revenue(.25% RATE)$128.4 billion)

x .21%

Vermont Revenue$269M Low (2000 Baker)

$743M High (2009 Baker)


Monetary System-2004

WHO CREATES MONEY? (SEIGNORAGE)


Monetary System

Until we have 100% reserve requirements and public Money


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