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The Future of Taxation: New and Different Options

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  1. The Future of Taxation New & Different Options K. Navi Phifer (0523482) Company Taxation - Dr. Von Wuntsch College of Applied Sciences, Berlin May 12th, 2011 www.knavita.com

  2. Outline • Bibliography • How to Pay Taxes – a Voting Reform • On What to Pay Taxes • Discussion Throughout

  3. Bibliography • E-voting w/o fraud: David Bismark • Individual tax $ allocation: my own thoughts • Land tax (single tax) • Henry George „Progress and Poverty“ (1879)http://en.wikisource.org/wiki/Progress_and_Poverty • „Land & Freedom“ bi-monthly magazine (Jan/Feb 1936) • Mason Gaffney „Land as a Tax Base“ (1993) http://masongaffney.org • Irish Land Tax Implementation (Nov. 2010): http://www.thejournal.ie/government-announces-new-site-value-tax-from-2012-2010-11/

  4. E-voting Without Fraud David Bismark‘s Lecture – TED Talks Conference – Nov 2010

  5. How to Pay Taxes – a Voting Reform

  6. The Reform • Transition to online tax payment • Tax filing & voting: April 15th (vote unhappy, election Nov. 15th) • Individual allocation of tax $

  7. Discussion:Tax Payment Method Reform Positive + more democratic + fair, just + tax payment more interesting (like investing) + politicians mustcontantly prove useful Negative • rich people have more money, decisions • rich people may not favour greater good (votes of equal weight?) • certain necessities may not have enough $ (set budget) • budget chages each year

  8. Why Land Tax? • Problem: poverty & wage slavery • Philosophy & ideology: Georgism • Population growth = growth in land value • Problems of our time: • speculation & loans (Chinese, US housing market) • wars for oil & fresh water • limited space (agriculture, record human population, rising ocean levels)

  9. What Is Land Tax? • NOT property tax • No VAT, no tariffs, no income tax • NOT a flat tax • Location is important • Housing & business taxed differently • xxxx • Gov. controls natural monopolies • Land always connected to labor (moreso than speculation)

  10. The Benefits of Land Tax • Encourages landowners to be most efficient • No tax on buildings & improvements = more development • More homes & business places lowers rent • No mines held idle (gov. controls natural monopolies) ... increased production & lower prices • Environmentalists also support eco-tax • Eliminates dead-weight losses (less economic distortion) • (Allegedly) reduces speculation in housing markets • Modernization: no land tax for real-estate on water

  11. Who Implements Land Tax? • Taiwan (Republic of China) • Singapore • Russia • Estonia • Parts of Pennsylvania & Alabama, USA • Parts of New South Wales, Australia • Parts of Mexicali, Mexico • In 2010 the Republic of Ireland announced plan to introduce (partial) LVT beginning in 2013

  12. Discussion:Is Land Tax More Efficient & Just? Positive + no land mortgages binding farmers + shouldn‘t burden industry (Adam Smith) + tax fraud more difficult + tax burden shifted to wealthier peoples + Catholic / Christian belief well-suited for USA • Negative • difficult to assess land value • regular assessments • more „land grabbing“ • today‘s economy less industry, more technology & finance • can it raise enough $$ ? • no clear land titles (developing countries)

  13. Thanks for your attention!